Three builders receive state grants
Three Colorado-based builders specializing in panelized home components have been selected for grants from Colorado’s Innovative Housing Incentive Program (IHIP).
The recipients are:
Durango-based Timber Age Systems, which manufactures panelized homes using timber harvested responsibly from wildfire-prone forests in the area. The timber is milled and manufactured into cross-laminated timber panels at the company’s facility in Ignacio. The homes are then built to Passive House specifications using all-natural materials. Depending on the geographic market, the company estimates that one of its 1,000 square-foot entry level homes could start at $300,000. The company received a grant of $680,000 for the construction of 66 housing units.
Grand Junction’s Phoenix Haus, which also builds panelized homes to Passive House specifications. The company’s custom homes are designed to be used by multiple-generation households. A new home from Phoenix Haus would start around $500,000. The company received $710,000 for the construction of 90 housing units.
Littleton-based Huron Components, which builds panelized framing and floors. The company’s panels are minimally finished, which allows for a significant number of homes to be constructed in their factory space. The company built more than 1,100 homes in 2022 and plan to build more as they expand their product line. They were awarded up to $1.3 million for the construction of 450 housing units.
“We need more housing now, and our administration is stepping up to provide this third round of grants to help create 600 new housing units in Colorado starting at $300,000,” Gov. Polis said in a press release from the Colorado Office of Economic Development and International Trade. “This new housing will help support Colorado’s workforce, economy and ensure our state remains a place where people can live where they want to live—close to their jobs, schools, the places they love or where they grew up.”
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So far, the Polis administration has awarded nine IHIP grants, incentivizing the creation of 2,000 attainably priced housing units across Colorado. The grants made in this latest round include two funding mechanisms: a reimbursement for 20% of eligible operating expenses and per-unit incentives up to $6,000 for every unit built and installed in Colorado.
“We are excited to see how rapidly IHIP is expanding the development of innovative housing across the state,” said Eve Liberman, executive director of Colorado’s Office of Economic Development and International Trade. “These latest grant recipients show our commitment to addressing our housing shortage using traditional and innovative economic development tools to create new jobs and housing units.”