Apartments like these could spring up to curtail the local affordable housing shortage. KonstantinL.Shutterstock.com
Given the extreme shortage of affordable housing in Colorado Springs, the news that the Pikes Peak Real Estate Foundation has launched the area s first Workforce Housing Fund comes at an opportune time.
The fund has already accumulated more than $200,000 and serves as a collaboration among the city, regional foundations and local developers, the foundation said in a release.
Estimates of affordable housing shortfalls vary from 14,000 to 20,000 units in a city where incomes fall below that found statewide.
Census Bureau data from 2019 shows median household income in Colorado Springs at $64,712, compared to statewide, at $72,331.