Today, Governor Polis and the Business Funding & Incentives division of the Colorado Office of Economic Development and International Trade (OEDIT) announced three new recipients of the Innovative Housing Incentive Program (IHIP) grant. This transformational grant continues the Polis Administration’s work to increase the supply of housing across Colorado. The funding announced today will directly incentivize the creation of over 480 attainable housing units across Colorado.
“We need more housing now, and this new round of IHIP grant funding will help create 480 new housing units for Coloradans,” said Governor Jared Polis. “With more housing, more people will be able to live in terrific communities close to work and recreation.
With this latest round of grants, the Polis Administration has awarded 12 IHIP grants directly incentivizing the creation of 2,000 attainable housing units across Colorado and contributing to the recipients’ work to create more than 7,500 units over the next three years
“The Innovative Housing Incentive Program is making a measurable difference in Colorado’s housing supply, and we know that impact will grow over time,” said Eve Lieberman, Executive Director of OEDIT. “We’re proud of the work these companies are doing to address Colorado’s housing shortage and help us ensure that our state has housing for every budget.
All three grant recipients are based in Colorado, with awards ranging from $100,000 to $722,000 in performance-based funding. Recipients include:
3D West – Colorado Springs – 3D West offers modern building technologies and pre-manufactured building methods for Accessory Dwelling Units (ADU), affordable housing and multifamily units. The company plans to build their first four units in partnership with Alquist 3D and StructureBot, both companies that have been supported by OEDIT programming to expand in the state. 3D West is approved for up to $100,000.
BYLD – Commerce City – This software and hardware company is transforming the construction industry with its unique paint-by-numbers approach, which significantly reduces labor costs and accelerates construction timelines. This innovative method streamlines the building process, enhancing efficiency and productivity. BYLD is approved for up to $722,000 in per-unit cash rewards for constructing over 350 units across Colorado over the next three years.
Studio Shed – Louisville – Established in 2008, Studio Shed is a leading manufacturer of panelized kit buildings, specializing in backyard sheds, ADUs and multifamily housing. Studio Shed has been at the forefront of innovative, scalable building solutions and has been approved to receive up to $240,000 in performance-based grant funding, at $2,000 per unit. The company plans to in turn share a $1,500 discount with its customers.
Source
oedit.colorado.gov
