Grand Junction, Colorado (October 24, 2023) —

Governor Polis and the Business Funding & Incentives division of the Colorado Office of Economic Development and International Trade (OEDIT) has announced three new recipients of the Innovative Housing Incentive Program (IHIP) grant. This grant continues the Governor’s plans to help create a house for every Colorado budget and invests in companies working to develop more housing in Colorado. This third round of IHIP grant funding will directly incentivize the creation of 606 attainable housing units across Colorado.

Among the grant recipients is Grand Junction-based manufacturer, Phoenix Haus. Phoenix Haus specializes in the production of panelized homes built to Passive House specifications that are designed to be used by multiple-generation households.

“We’re so grateful to have been connected to the State of Colorado’s IHIP—this was brought to our attention through our awesome friends over at Grand Junction Economic Partnership. It’s really special how the economic development initiatives in the state view and support local businesses. We feel very special and happy to be located in Western Colorado,” said Bill McDonald, Founder & CEO of Phoenix Haus.

Phoenix Haus relocated to Grand Junction, Colorado in 2017 and was among the first Rural Jump Start companies in Mesa County with the support of the Grand Junction Economic Partnership. Since moving to the region, Phoenix Haus has created 23 new primary jobs and invested over $2.7 million in capital expenditures as they’ve outgrown their original facility and purchased a new facility in 2022.

Through the Innovative Housing Incentive Program (IHIP), Phoenix Haus has been awarded up to $710,000 for the construction of 90 housing units. New homes from Phoenix Haus are projected to start at around $500,000 each. The company plans to hire additional team members at their Grand Junction location including a digital fabrication department that will utilize newly invested 3D CAD software.

“We need more housing now and our administration is stepping up to provide this third round of grants to help create 600 new housing units in Colorado starting at $300,000,” said Governor Jared Polis. “This new housing will help support Colorado’s workforce, economy and ensure our state remains a place where people can live where they want to live — close to their jobs, schools, the places they love or where they grew up.”

With this latest round of grants, the Polis Administration has awarded nine IHIP grants directly incentivizing the creation of 2,000 attainable housing units across Colorado and contributing to the recipients’ work to create more than 7,500 units over the next three years.

“We are excited to see how rapidly IHIP is expanding the development of innovative housing across the state,” says Eve Lieberman, Executive Director of OEDIT. “These latest grant recipients show our commitment to addressing our housing shortage using traditional and innovative economic development tools to create new jobs and housing units.”

The grants announced today, which range from $680,000 to $1,300,000 in performance-based funding, include two funding mechanisms: a reimbursement for 20% of eligible operating expenses and per-unit incentives up to $6,000 for every unit built and installed in Colorado.

In addition to Phoenix Haus, grant recipients include Timber Age Systems based in Durango, Colorado and Huron Components based in Littleton, Colorado.

Read the full press release by visiting www.oedit.colorado.gov/press-release/polis-administration-announces-latest-round-of-ihip-grant-recipients-supporting