Polis urges cities to act on 106,000-home gap
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Gov. Jared Polis says getting government "out of the way" will help manage Colorado's 106,000-unit housing shortage.
The big picture: That's the estimate from a report released this week by Polis and the State Demography Office, which suggests that while the housing gap recently narrowed, thousands of homes are still needed.
Caveat: The estimates are based on 2023 figures, the most recently available data, per the state.
Why it matters: Polis, a Democrat, is putting immense political pressure on Colorado cities to enact individual policies his office believes will alleviate a housing crisis that's making it harder for people to buy homes and fueling the rise in homelessness.
The latest: This week's quarter-point Fed rate cut likely won't make buying a home easier in Denver, even amid a drop in metro area home prices reported last month.
- Policies Polis supports include dropping parking requirements, something he applauded Denver for doing this summer.
What they're saying: "If we let the status quo continue, Colorado will be less affordable, less sustainable and less liveable in 10 years," Polis tells us.
- Lack of affordable housing is a major barrier to ending homelessness, Metro Denver Homeless Initiative external affairs director Jenn Meyers said in a statement.
The other side: Six cities sued Polis in May over an executive order requiring municipalities to adopt multiple housing laws to gain eligibility for state grants, CPR News reported.
- A spokesperson for the city of Greenwood Village, one of the six cities challenging the executive order's constitutionality, said a response from the state was due early next month.
The intrigue: Colorado's housing shortfall peaked in 2019 with 140,000 units, with the state crediting roughly 43,000 new units built annually since 2020 with narrowing the overall gap.
Threat level: Affordability remains worrisome.
- The state report notes that between 2000 and 2023, the average home prices in Colorado increased by 223%, while residents' income rose by 144% during the same span.
What's next: Next month, the state will start compiling a list of local governments that are compliant with the governor's housing policies to determine eligibility for $280 million in grants.