City Council To Take Up Affordable Housing Bill
DENVER (CBS4) - The Denver City Council will vote Monday evening on a bill aimed at increasing affordable housing to help some families stay in the city.
The ordinance requires developers to set aside condo units for lower-income families. It doesn’t apply to apartment units.
Current law allows developers to pay a fine to be exempt. Increased rents, higher-end housing and low inventory have forced some families to move from Denver to the suburbs.
Living in the city has become increasingly more expensive. According to a report from housing company Zillow, average Denver renters now pay about 32 percent of their income toward housing, up from a historical 22 percent.
CBS4 spoke to residents in July who said they worried skyrocketing prices are forcing them from the city.
“If you don’t make over $60,000 a year, or under $20,000 a year, you’re screwed,” Tia Henton said, noting that residents who make too much don’t qualify for government aid.
City Councilwoman Robin Kniech said then that moving farther away from downtown isn’t a solution.
“It’s not really a winner in the long run. It’s not a winner for those families and it’s not a winner for the city. We need workers of all incomes,” she said.