Picture a community where every person and family has the chance to feel the safety and warmth of a secure home. Housing is more than just a roof over one’s head; it is the cornerstone of thriving communities and paves the way for brighter tomorrows. Together, we’re building financial security and helping Jeffco thrive, which is good for everyone.
More people can now afford a place to live in Jeffco thanks to an innovative affordable housing collaboration with community partners, including Colorado Gives Foundation. Vance Street Lofts located at 4097 Vance Street is now accepting applications for 24 affordable housing units for individuals and families.
As the community foundation serving Jeffco, we are committed to working with partners so that all of Jeffco is thriving. We are excited to have made our first Bring it Home investment in an innovative collaboration providing housing that is affordable for essential community members like teachers, fire fighters and office workers.
Colorado Gives Foundation supported the community collaboration and provided a $500,000, low 3%-interest loan to Foothills Regional Housing to help complete the $7.5 million purchase, facilitated by Weave Social Finance’s Colorado Housing Accelerator Initiative (CHAI) Fund. The loan aligns with the Foundation’s new Bring it Home Fund’s mission to create and maintain affordable housing in Jeffco. Earlier this year, Colorado Gives Foundation seeded $15 million to the fund and began engaging companies and donors to join their efforts.
| The Project
Vance Street Lofts is a newly constructed project that preserves affordable housing through collaboration, committed partners and financial supporters who worked quickly to make the deal happen. Foothills identified a unique opportunity to gain 24 new affordable apartments and avoid losing them to the unrestricted market, and the community came together quickly to make it happen.
Vance Street Lofts features attractive brick and wood exteriors and high-quality unit interiors with stainless steel appliances and high-efficiency washer and dryers. Other amenities include onsite parking, bike storage, balconies and patios, and a community garden. The location offers a walkable community with easy access to grocery stores, restaurants, retail and mass transportation.
Twelve of the Vance Streel Lofts are subsidized for lower-income tenants at or below 50% AMI through project-based vouchers, while the remaining 12 one- and two-bedroom units are reserved for those earning 50%-80% AMI. People interested in leasing a non-subsidized unit should contact Foothills Regional Housing at 303-682-0704.
| What is Affordable Housing?
For many of our community’s essential workers, their wages have not kept pace with rising housing costs. Our neighbors earn a good income but still struggle to live near where they work.
- Affordable housing is incredibly important even to those in the middle-income bracket, typically defined as those earning 60-120% of the area median income (AMI)
- This translates to about $52,000 – $150,000 depending on household size.
| You Can Help
Colorado Gives Foundation created the Bring it Home Fund and seeded it with $15 million to help preserve or increase the supply of affordable housing. In Jeffco, nearly 20,000 new units are needed to meet the housing needs and maintaining and building affordable housing takes time. It’s a big problem that no one person or organization can tackle alone. But together, we can change this.
Donors interested in joining the effort can do so in two primary ways:
1. Donate to the Bring it Home Fund – Every dollar makes a difference, whether it’s $25 or $10,000. Donate any amount and it will be pooled to invest and support affordable housing in Jeffco. Make a one-time gift or choose a recurring gift on ColoradoGives.org.Donate
2. Open a Donor Advised Fund. – With a $25,000 minimum contribution, you can open a Donor Advised Fund (DAF) and select the Bring it Home Fund as the investment option. DAF funding is pooled in the Bring it Home Fund for greater impact. The Bring it Home Fund was created to provide a modest return. Any earnings from the Bring it Home Fund will be returned to your DAF. You, as the advisor on the DAF, can then recommend support for other causes and/or organizations you care about. Connect today with our Philanthropic Services team to establish your Donor Advised Fund.Connect With Our Team