Architectural Plans Keep New Housing Affordable in Cortez

Like much of the rural Mountain West, Cortez struggles with affordable housing. The problem isn’t just inventory. With any local affordable housing development, upfront costs increase budgets and make rental payments higher for residents. Housing Solutions for the Southwest, a local affordable housing group, had plans to build a four-plex in Cortez. The lot was already purchased and the group planned to only charge in rent what it would cost to pay the construction loan. Hoping to defray some of the costs and reduce rental payments for residents, staff connected with LOR. LOR’s funding will help Housing Solutions for the Southwest purchase architectural plans and cover city fees, lowering rental costs. Once completed the complex will house Cortez residents who work in the school district and at the local hospital.