Michael Pledges a 30% Increase in State-Supported Housing, Support for First-Time Homebuyers, Less Bureaucracy and Lower Construction Costs
Denver, CO — Today, Michael Bennet released a comprehensive housing platform to tackle the state’s housing crisis and build a Colorado where no one is forced to spend more than 30% of their income on housing.
“Colorado is facing a housing crisis that puts renting and owning a home out of reach for too many families. Too many Coloradans are forced into long commutes, and many of us worry our kids may never be able to afford to live here,” said Michael. “Housing is the foundation of our economy, families, and communities, and as Governor, I will make building homes for every stage of life a top priority. This plan will ensure every Coloradan can live near their work, afford a home, and build a future here.”
Michael is committed to addressing Colorado’s housing challenge by tackling every aspect: building new homes, preserving existing units, reducing red tape, lowering construction costs, and expanding support for first-time homebuyers. As governor, he will bring together local communities, the private sector, non-profits, and philanthropy to meet this urgent statewide challenge.
Michael’s “Building Colorado’s Future: Affordable Homes for Every Family” plan combines bold state investment, private sector engagement, and innovative policy to ensure that every Coloradan can afford a home – today and for generations to come. Key initiatives include:
- Building New Homes: Michael will drive a statewide surge in home construction, starting with a bold state commitment to increase the supply of state-supported housing by 30% by 2035. By partnering with communities and home builders, cutting costs, reducing red tape, and streamlining permitting, Michael aims to close the housing supply gap and increase both rental and for-sale units.
- Supporting First-Time Buyers: To make homeownership attainable, Michael will invest in building more starter homes and expand state partnerships with banks, non-profits, employers, and landlords to provide mortgage and down payment assistance and rent-to-own systems, helping Coloradans bridge the gap between what they can afford and the cost of a home.
- Preserving Affordable Housing: Michael will prioritize the acquisition and rehabilitation of existing affordable units, leveraging state resources, tax credits, and private investment to maintain homes for families across Colorado.
- Slashing Red Tape and Streamlining State Resources: Michael will centralize housing funding streams, implement a single common application for state housing programs, and set a goal for projects receiving state funding to break ground within one year of approval. His administration will integrate technology to expedite permitting, simplify underwriting, and improve data collection.
- Cutting Costs of Construction: Rising construction costs—from labor and materials to land and infrastructure—have made housing less affordable. Michael will reduce these costs by expanding low-cost financing, making land available at below-market rates where appropriate, promoting faster development, smaller lots, and increased density, and supporting innovative construction methods.
- A Coordinated Approach to Reducing Homelessness: Michael will prioritize stable funding for rental and utility assistance, legal aid, case management, and other supportive programs — investments that stabilize families and save money for renters, landlords, and taxpayers over the long term.
Michael’s plan was developed in partnership with Coloradans across local government, the private sector, nonprofits, and philanthropy to create a comprehensive, statewide solution to the housing challenge. Michael views this plan as the first step, with more to come as the work continues in the months ahead.
“The root of Colorado’s housing affordability crisis is simple – we need more homes. This is an ambitious and achievable plan to leverage a broad array of state tools to build those homes and provide Coloradans with more and better housing options,” said Luke Teater, Principal, Thrive Economics.
“Building a Colorado where we can all afford to live is going to require a leader who is thinking about the whole housing continuum, and how we serve the whole state. This plan represents that kind of leadership,” said Heather Lafferty, Senior Advisor, Ulysses Development Group and Former CEO of Habitat for Humanity of Metro Denver.
“Senator Michael Bennet understands that affordable housing isn’t just a moral imperative; it’s an economic necessity for Colorado. He’s delivering honest, pragmatic, and efficient solutions that will make a meaningful impact. His approach doesn’t just look good on paper; it’s grounded in what actually works effectively. By tackling our state’s housing issues, Senator Bennet is investing in Colorado’s workforce, stability, and long-term economic prosperity for all communities in our state,” said Haroun Cowans, Goshen Development.
“Strengthening and supporting our essential workforce and sustaining thriving communities is at the heart of this housing strategy. These ideas will open doors to homeownership, remove barriers, accelerate supply, and most importantly, bring down costs across the state. The more we align housing with affordability, accessibility, and supply, the more resilient our communities will be,” said Kimball Crangle, Colorado Market President, Gorman and Company.
“Michael Bennet’s solutions-driven leadership would be a win for Colorado, especially mountain towns like Glenwood Springs, because he listens, understands our housing challenges, and recognizes the rising costs burdening our Western Slope communities,” said Ingrid Wussow, Former Mayor of Glenwood.
“Michael’s housing plan reflects his understanding that our housing challenges will only be solved by bringing the private sector and government together. This is a plan that won’t just be window dressing and a headline but will actually fix the problem and give Colorado families long-term housing security,” said Mark Falcone, Founder, and CEO, Continuum Partners.
“Michael Bennet’s housing plan is comprehensive, creative, and action-oriented, and exactly what Colorado needs to ensure that our workforce, our seniors, our young people, and everyone in between has access to housing that meets their needs. The combination of state action, local partnerships, and private sector incentives will spur the creation of desperately needed affordable and attainable housing across the state, while also preserving critically needed existing affordable housing. The housing crisis in Colorado is deep, but I’m confident that Michael’s ambitious plan will provide a solution,” said Aaron Brockett, Mayor of Boulder.
“Michael Bennet recognizes Colorado’s housing is an ecosystem that has to be working together to be successful. His approach recognizes the need for collaboration and dialogue with all aspects of the environment. With Michael, there’s an opportunity to change our approach so that we are all working together in pursuit of housing affordability for everyone in the state,” said Leslie Summey, Arapahoe County Commissioner.
“As former mayor and current councilmember of Grand Junction, I have seen how the housing crisis affects families, workers, and the vitality of our communities. Michael understands that solving this challenge is about people being able to put down roots and thrive where they want to be. Michael knows every corner of Colorado, and knows that every community has unique opportunities for addressing our housing crisis with the state’s support and partnership,” said Anna Stout, Grand Junction City Council.
