Brandon Leuallen, The Business Times

Funded in part by grants, the City of Grand Junction acquired the 21.78-acre “Salt Flats” property. In a news release from the city, the acquisition is called a “significant step in addressing the community’s critical need for affordable housing.”

The city received a Proposition 123 grant from the Colorado Housing and Finance Authority Land Banking Program. Additionally, the city provided a $1 million match to secure the CHFA grant.

The city also received a $2 million More Housing Now grant from the Colorado Department of Local Affairs to fund public infrastructure improvements on the site. According to the news release, the infrastructure investments will further reduce development costs and help ensure affordability.

According to the city, the Salt Flats project will provide between 324 and 500 housing units, offering a mix of rental and homeownership opportunities with a primary focus on affordable and attainable housing. Considerations for mixed-use, commercial, and market-rate housing may also be included. The City will partner with nonprofit and for-profit housing developers to construct the housing units.

“With a housing shortage impacting our workforce and families, this site will play a crucial role in providing more affordable and attainable housing options to ensure long-term stability and economic resilience” Grand Junction Mayor Abram Herman said.

This initiative addresses the housing shortage identified in the city’s housing strategy, which highlights an “urgent need for over 2,000 additional units for households earning under approximately $100,000, with an acute need for those earning under approximately $56,000.”

According to the news release, included in the city’s adopted strategy is “direction of the city to consider allocating city-owned land or acquisition of land for housing development and investing in infrastructure to support increasing the supply of housing affordable to a greater number of city residents than the market is currently providing.”

The city released a Request for Letters of Interest seeking qualified and experienced developers to design and build housing units on the site. Interested developers can access the documents on the city website or by calling 970-244-1545. Responses are due Feb. 21 before 2 p.m.

More details about the city’s housing strategies and this project can be found online at gjcity.org or by emailing housing@gjcity.org.