A panelized housing construction company out of Durango called Higher Purpose Homes was awarded up to $590,000 in the form of reimbursements from the state to bolster its operations.
The award came from Colorado’s Innovative Housing Incentive Program on Feb. 6. “to support the development of the off-site construction industry and create more housing at a lower cost,” according to a press release.
Buena Vista-based VeroTouch Construction was the other recipient and secured up to $618,000 in reimbursements.
The money is to be spent over three years and will help Higher Purpose Homes construct 95 units. Already, it’s constructed a handful of houses in La Plata and Montezuma counties.
To be sure, the award isn’t a grant, so it’s not money “the state just hands over to us,” said Ethan Deffenbaugh, cofounder of Higher Purpose Homes.
“Justifiably so, we have to prove that what we spent our money on … is dedicated to providing housing to the community,” he said.
Higher Purpose Homes is dedicated to providing affordable housing in this corner of the state, according to its website. Deffenbaugh said the reimbursement award will curb their costs and ultimately support that initiative:
“It makes our efforts to provide affordable housing solutions to our community more affordable,” he said.
He specifically thanked the Region 9 Economic Development District in helping secure the award.
“Especially Shak Powers, who proves day in and day out that he cares about our community and is actively helping to make it a better, more affordable place to live,” said Deffenbaugh.
Powers, the regional projects manager at Region 9, said that from an economic development standpoint, manufactured housing “makes sense.”
He equated the economy in this corner of the state to a three legged stool: One leg is agriculture, the second is oil and gas, and the third is tourism.
Plus, we’re in an “ideal location for manufactured housing” because the area is natural disaster-free, as far as floods, hurricanes and tornadoes go.
Simply put, the need for affordable housing is “massive” – “it’s too difficult to stick build our way out of this” – and it’s a way for the area to diversity its otherwise limiting three legged stool, said Powers.
Therefore, Region 9 supported Higher Purpose Homes in the initial application for this money.
“It’s important to know that our goal is … to provide our neighbors with a less expensive house, apartment, town home, commercial building, etc.,” Deffenbaugh said. “We are part of this community and feel compelled to help reduce the cost of housing.”
