Prop 123 is Working.
A Proven Solution to Colorado's Housing Crisis.
In 2022, Colorado voters made a historic choice to permanently fund affordable housing without raising taxes. The results speak for themselves.
Why Prop 123 Matters
Colorado faces a severe housing affordability crisis alongside a state budget shortfall. Prop 123 balances both challenges.
Every corner of Colorado is benefiting
Building affordable homes statewide
OEDIT, DLG, and DOH working together
Colorado saw some of the largest rent declines in 2025, driven by increased housing development
Prop 123 housing funds deliver measurable economic benefits to local communities
Prop 123 was built to meet state budget needs and has already committed funds
Three Pillars of Impact
Prop 123 funding flows through multiple state agencies to address housing needs across the spectrum.
OEDIT
Concessionary debt, equity investments, and land banking to create new affordable housing developments.
DLG
Building local capacity for housing planning, zoning reform, and community development.
DOH
Emergency rental assistance, homelessness services, youth housing, and tenancy support.
Prop 123 Renters Can Now Earn Cash Back
Renters at properties supported by the Prop 123 Equity Program now receive access to Colorado Renter Rewards, a free benefit made possible through the State of Colorado and powered by Stake
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Featured Projects Across Colorado
From Denver to Grand Junction, Prop 123 is funding innovative housing solutions in communities across the state.
The Irving
Sustainable, modern, affordable housing
The Irving at Mile High Vista is a new, permanently affordable, all-electric multifamily housing community in Denver's West Colfax neighborhood that offers 102 units for tenants earning 20%–80% of Area Median Income (AMI).
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The Terminal
Abandoned bus depot revitalized
The Terminal project is in development at an abandoned Greyhound Bus Station, aiming to bring safety, energy and connection to downtown Grand Junction. It will also add 107 apartment units for tenants earning between 70-100% AMI.
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Cityline Station
Former nursing home-turned-community hub
Cityline Station sits on the site of the old Bonell Campus, a former nursing home. Just blocks from the University of Northern Colorado, it offers 310 units, from studio apartments to 3-bedroom bungalows, for residents earning 70-90% AMI.
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True North
An affordable place to buy
True North will create 185 residences in Downtown Longmont. Phase 1 consists of 52 for-sale homes, with 10 units priced for buyers below 80% AMI and 42 homes for those between 80-120% AMI.
Read MoreYour Voice Matters
Have you or your community benefited from Prop 123 programs? Share your story and help demonstrate the real impact of affordable housing investment in Colorado.
Share Your Story