Colorado Coalition for the Homeless

Amount Appropriated?

$5.0M

FFID tracks stages 1–2 — stages 3–5 vary by agency, assistance type, and earmark structure.

Project Description

Land in downtown Denver can cost more than $300 per square foot and construction costs exceed $200 per square foot. For example, a .5 acre site and a newly constructed 170,000 square foot building with the same number of units could cost more than $50 million. The acquisition of this site is less than half of that and can be placed in service more or less immediately. Investing in capital repairs will ensure the long-term viability of the building and help us to meet our ongoing programming needs. The hotel itself is in good condition, provides several quality amenities, and helps meet a variety of housing needs in our community.\n\nThe Colorado Division of Housing and the City of Denver have allocated a large amount of funding towards such hotel acquisitions and the approach has been widely supported as an essential solution to homelessness. In recent years, CCH has operated several hotels as emergency non congregate shelter for individuals impacted by Covid. These sites have further demonstrated the need for a variety of housing solutions to address homelessness and evidenced that existing hotels are an efficient and effective resource.\n\nThis $5 million investment will leverage millions in acquisition and operational funding from City, State, Federal, and private funding programs. CCH has provided healthcare, housing, and supportive services, including non-congregate shelter, for more than 30 years and has a demonstrated track record of executing programs effectively and efficiently to ensure our funding is producing the strongest results possible.