Telluride Foundation - Gates Family Foundation
Project Description

The Rural Housing Initiative is a public-private-philanthropic partnership to build affordable, for-sale housing in rural Colorado. The Telluride Foundation launched the initiative to address the challenges of building housing in rural communities. The Rural Homes model will provide new housing stock that is affordable for the region’s essential workforce: teachers, medical professionals, immigrants, public employees and others that earn between 60 and 100 percent of the Area Median Income (AMI). Over four years, the fund aims to build up to 120 homes in four rural western slope communities: Nucla, Naturita, Ridgway, and Ouray.

This program-related investment from Gates takes the form of a below-market-rate loan, with principal and interest (0.5%) all due at maturity.

Amount $200,000
Year Awarded 2021
Support Type Program-Related Investment
Strategic Priorities

Community Development > Access to Economic Opportunity

Areas Served

Montrose

Website https://telluridefoundation.org/impact-initiatives/rural-housing
Term 4 years
Payment Schedule
2021$200,000