Denver Has A Plan For Its Many Luxury Apartments ~ Housing Subsidies:

Wall Street Journal | By: Laura Kusisto | January 08, 2018:

The Lower Income Voucher Equity Program will help lower-income tenants pay the difference between what they can afford and the market rent.

Denver has a plan for its glut of sparkling new, high-end rental apartments with amenities like gyms, roof decks and sometimes even pet spas: It will use them to house teachers, medical technicians and others who can’t afford the city’s soaring rents.

Under a program to be unveiled later this month, the city, along with employers and charitable foundations, will pay the difference between what a lower-income resident can afford and the market rent of an apartment.

Like other cities across the country, Denver is grappling with a shortage of affordable housing for middle-class workers. “Instead of having these units sit vacant, if we can create opportunities to help some of our employees, our residents get into those units, that’s an immediate response,” said Denver Mayor Michael Hancock.

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