Homebuyers worried about the lack of affordable housing on the Western Slope

Community

GRAND JUNCTION, Colo — The average sale of a home in Grand Junction was $325,000 in July. That is nearly a 20% increase compared to last year.

Of the 356 active listings, only 24 were available under $200,000.

A lack of affordable housing on the Western Slope continues to pose a threat to new homeowners.

Abe Herman with Grand Junction City Council, says, “there’s a big gap in housing especially for some of our lower-income community members. We’re trying to look at ways we can help the market, work with the developers and the builders to bring more housing to market to keep up with the demand.”

A private real estate firm in Colorado secured a 15 million dollar construction loan to help those in need of new homes in the Grand Valley.

The loan will go to help build a new apartment complex, The Eddy.

Steve Jozefczyk with Grand Junction Economic Partnership, says, “they will be building a 96-unit housing development. Multiple floors and different living arrangements for different people.”

A 74-unit RV park will also be a part of the project.

The Grand Junction Economic Partnership has redeveloped Las Colonias Park and is also looking to help bring more housing to the area.

Jozefczyk also says, “what a better opportunity to develop some of the other land that’s down in that area than by helping developers build high-density multifamily housing in that region just so people could live in one community down by the river. Live and work and play all in one convenient location.”

Along with the new addition of the Eddy, there were 356 active listings in July.

Only about 100 were below the average price of homes sold in Grand Junction, according to Bray Real Estate.

These numbers highlight that as Grand Junction continues to grow, affordable housing options must become a priority.

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