This project was made possible through Pueblo’s Habitat for Humanity network, American Rescue Plan Act funds and Tax Increment Financing.
Pueblo, Colo.- Apr. 20, 2023 – Habitat for Humanity Pueblo, Inc. (HFH) announced a housing partnership today that will result in three affordable residential units in Pueblo’s East Side Neighborhood. Habitat was a recipient of 2023 American Rescue Plan Act (ARPA) funds administered by the City of Pueblo.
HFH was awarded $300k for the construction of a single-family, 2–3-bedroom home or duplex. The organization’s Board of Directors elected to build on a Habitat owned parcel located at E. 6th St. and Glendale. This portion of the project resulted in construction of a 1,400 sq. ft., 3-bedroom, single-family residence with an estimated completion date of June 2023. Upon completion, this unit will serve a family that has participated in Habitat for Humanity programs.
“Collaborative projects like this serve as a great model to produce much needed affordable housing units in Pueblo. These three units will make a significant impact on the livelihood of this neighborhood and family’s wellbeing” said Johnny Galvan, Habitat’s Executive Director.
HFH’s project resides in the Pueblo Urban Renewal Authority’s (PURA) Eastside Project Area that was established to encourage residential infill activities. This plan allowed the use of Tax Increment Financing (TIF) to acquire a vacant, corner lot adjacent to Habitat’s project. Revenue generated from the sale of the first unit is intended to partially fund the construction of an owner-occupied duplex on this additional lot.
These units will serve Pueblo citizens earning 80% of the Average Median Income (AMI) or less. To demonstrate, a family of three earning 80% of the AMI in Pueblo, Colorado has a salary of $59,200 per year or less. “PURA is committed to face the challenges associated with creating housing for up-and-coming families. We know the best thing for a neighborhood are people who own and live in their homes. That’s our focus and that’s where we will push. And push hard” said Jerry M. Pacheco, PURA Executive Director.