An affordable housing mandate in Denver could be on the horizon
“Denver is considered among the most expensive metro areas in the U.S., with an average home sale price recently hitting a record $705,812.
Driving the news: A Denver City Council committee on Tuesday advanced Mayor Michael Hancock’s plan to require all new residential buildings with 10 or more units to include between 8-15% income-restricted dwellings. The pricier the area (think Cherry Creek and Union Station), the more affordable units there would need to be.
If developers don’t comply with the new regulations, they would face significant fees.”