Denver Proposing New Development Fee to Pay for Affordable Housing

Denver Proposing New Development Fee to Pay for Affordable Housing

Jun 16, 2016

Client Alert

Brownstein Client Alert, June 16, 2016

Despite some concerns that the real estate market is slowing down, the city's data indicates that the real estate and job market in Denver continue to expand, creating an acknowledged gap between wages and housing costs. Denver’s administration is proposing to address the need for affordable housing by creating a permanent affordable housing fund beginning in 2017, paid for by a new development fee based on square footage and a property tax increase of up to 1 mill.

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