A third round of housing catalyst funding has been finalized, awarding $134,000 to area workforce housing projects.
The fund, established by the La Plata Economic Development Alliance in collaboration with its consultant team, Project Moxie, aims to identify and support potential workforce housing projects across the county.
“We are so proud to have awarded $517,052 to date from the Alliance Catalyst Fund, resulting in 464 workforce housing units developed or preserved in La Plata County,” said Alliance Executive Director Sarah Tober. “In making these investments, we are also leveraging local funds to help fast track projects and expand access to state funding. The state wants to see local investment as well as multi-organizational collaboration when possible in these Prop 123 applications. The Catalyst Fund is helping to provide just that.”
The pre-development program is designed to provide funding to support early feasibility studies, environmental assessments, site preparation, market analysis, surveys and legal fees.
The funding was granted for three projects. Two of those projects, the Animas View Mobile Home Park Co-op and Twin Buttes Townhomes, are in Durango.
Pine River Commons in Bayfield also received funding. These projects consist of a combination of units for sale and initiatives aimed at preserving mobile home parks, The Alliance announced in a news release last week.
Pine River Commons is supposed to supply Bayfield with 66 deed-restricted townhomes. It comes at a time where Durango’s workforce continues to look toward Bayfield as a cheaper living option compared to living in city limits.
Eligible Catalyst Fund applicants using state and federal subsidies must commit to providing at least 25% of available units as below-market, the organization said.
This is the second time the Animas View Mobile Home Park Co-op has been awarded catalyst funding in the last year. The organization has previously secured large victories for affordable housing efforts in La Plata County. In 2021, it helped finance the $14 million purchase of River View Mobile Home Park for its residents.
Residents wanted to buy the park to stabilize their monthly lot rent. Under the Strive Communities’ ownership, the average lot rent increased from $350 per month in 2015 to about $730 in 2021.
“The Catalyst Fund is a unique funding source and possibly one of only a few like-funds in the state providing critical early development funding for housing projects that are working to bring more affordable workforce housing into our communities within La Plata County,” said Ignacio Town Manager Mark Garcia.
Ignacio’s Rock Creek housing project was the benefactor of The Alliance’s first round of catalyst funding.
In June, Garcia told The Durango Herald that 10 new single-family modular homes will become available for purchase in November as part of the Rock Creek project.
The Catalyst Fund, which has garnered $933,000 in funding, was established based on recommendations from the 3-Year Workforce Housing Investment Strategy, introduced by the Alliance in 2022.
The Alliance plans to open a fourth round of funding in October, with awards announced by November.
tbrown@durangoherald.com
