Front Range Developers Eye 10K+ Homes to Ease CO Housing Crunch

Developers have unveiled ambitious plans for more than 10,000 new homes in the Denver metro area and Colorado Springs, targeting the Front Range's acute housing shortage initially reported by Denver7. The Denver Regional Council of Governments estimates a current need for over 52,000 units in metro Denver, ballooning to 500,000 by 2050. Common Sense Institute pegs Denver's 2022 housing deficit at 13,148 to 30,930 units, requiring 31,000 to 49,000 new units by 2028 to meet population growth, or 5,187 to 8,151 permits annually.

Statewide, House Bill 24-1313, advancing through the legislature as of April 2024, would mandate cities to rezone land near transit lines for denser housing, potentially unlocking tens of thousands of apartments and condos. In Broomfield, officials project 10,000 additional units, with 1,800 likely near Flatiron Station on the Flatiron Flyer bus line. Greenwood Village warns the bill could force 25,853 units, quadrupling its population to 77,542 without state infrastructure aid, though it only requires zoning changes, not construction.

Denver is ramping up affordable housing efforts, needing 44,000 units over the next decade per its Department of Housing Stability. A 2022 mandatory policy requires 10+ unit developments to include affordable units or pay fees-in-lieu; year-to-date 2024 saw 127 accessory dwelling units (ADUs) permitted citywide after a November 2024 zoning amendment. Mayor's office pilots tax exemptions for 2025 multifamily projects targeting $60,000-$100,000 incomes, aiming for 500 units in five developments, with a 2026 round planned.

In Colorado Springs, the HomeCoS initiative advances housing solutions, complementing Front Range momentum. These efforts come as permitting tapered in 2022 amid high interest rates, underscoring urgency for streamlined approvals to hit targets.