Press Release
Aspen Receives Critical Funding for Lumberyard Affordable Housing Project
Aspen, CO – The City of Aspen is pleased to announce the award of a $2 million grant from the state of Colorado to support the development of the Lumberyard affordable housing project. This significant funding from the Department of Local Affairs (DOLA) through the More Housing Now Initiative will kickstart phase 0 of this project. The Lumberyard neighborhood will provide 300 affordable housing units for Aspen residents.
The $2 million grant for phase 0 of the Lumberyard project will help fund the transformation of the existing industrial site into a reinvigorated housing-ready site where a private developer can build much-needed affordable housing on behalf of the city. With this grant, the City will begin critical site preparation and utility work, laying the groundwork for future construction phases.
“This is a major milestone in our ongoing efforts to address Aspen’s affordable housing crisis,” said Aspen City Manager Sara Ott. “We are incredibly grateful to the state of Colorado for their support and investment in our community.”
The grant recognizes the City’s strong commitment to addressing the region’s housing crisis and its successful record of accomplishment in planning and supporting affordable housing development. DOLA cited Aspen’s land use planning efforts, robust community support, and clear project goals as key factors in selecting the Lumberyard project for funding.
The city remains committed to seeking additional state funding and exploring innovative solutions to increase housing availability.
“We're excited to start making the Lumberyard a reality for the community. The infrastructure phase is only the beginning, and we plan to continue to seek opportunities to augment local funding sources with additional resources as those become available,” said City Housing Development Project Manager Chris Everson.
The More Housing Now Initiative is funded through the state’s severance tax on energy and mineral production.
For more information about the Lumberyard, please visit, AspenCommunityvoice.com
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For more information, please contact:
Jenn Ooton, Senior Project Manager
Phone: 970-975-3667
Email: Jenn.Ooton@aspen.gov
Heather Hendricks, Communications Coordinator
Phone: 970.309.1569
Email: Heather.Hendricks@aspen.gov