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Local Affordable Housing Project Receives $1.95 Million Grant
Ascent at Salt Flats development in Grand Junction selected for state funding
Apr. 7, 2026 at 10:06pm
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A conceptual still life captures the thoughtful, community-oriented design of the Ascent at Salt Flats affordable housing project.Grand Junction TodayAscent at Salt Flats, a proposed 144-unit affordable housing project in Grand Junction, Colorado, has been preliminarily approved for a $1.95 million grant from the state. The development is part of the larger Salt Flats Project, which aims to deliver between 324 and 550 new affordable homes on 22 acres of land acquired by the city in 2025.
Why it matters
The Ascent at Salt Flats project is a key part of Grand Junction's efforts to address a severe housing shortage, particularly for households earning under $100,000 and $56,000 per year. The state funding will help make the development financially viable and expand affordable housing options in the community.
The details
Ascent at Salt Flats will have studio, one-, two-, three-, and four-bedroom units primarily serving residents with incomes from 30% to 70% of the Area Median Income. The development plans to include amenities like a playground, fitness center, community room, and an onsite Early Childhood Education center. Construction is expected to begin this spring and be completed by Spring 2027.
- The City of Grand Junction acquired the 22-acre property for the Salt Flats Project in January 2025.
- Four development teams were selected to work on the Salt Flats Project in Spring 2025.
- Two phases of the Salt Flats Project are anticipated to begin construction later in 2026.
The players
Ascent at Salt Flats
A proposed 144-unit affordable housing development that is part of the larger Salt Flats Project in Grand Junction, Colorado.
Salt Flats Project
A 22-acre affordable housing community in Grand Junction that aims to deliver between 324 and 550 new homes.
City of Grand Junction
The local government that acquired the 22-acre property for the Salt Flats Project in 2025.
Jared Polis
The Governor of Colorado who announced the preliminary approval of the $1.95 million grant for the Ascent at Salt Flats project.
Colorado Office of Economic Development and International Trade (OEDIT)
The state agency that, along with the Colorado Housing and Finance Authority, selected the Ascent at Salt Flats project to receive funding.
What they’re saying
“Colorado is focused on delivering housing Coloradans can afford. These awards will expand housing options and grow stronger communities across the state, creating more opportunities for Coloradans to live close to jobs, schools and in communities they love.”
— Jared Polis, Governor of Colorado
“The developments supported through the Proposition 123 Concessionary Debt program represent new opportunities for housing stability for hundreds of Colorado families. This financing helps ensure that affordable housing developers have the resources they need to strengthen communities as they bring these homes to fruition.”
— Thomas Bryan, Executive Director and Chief Executive Officer, Colorado Housing and Finance Authority
What’s next
The Ascent at Salt Flats project is expected to begin construction in Spring 2026, with an anticipated completion date of Spring 2027.
The takeaway
The $1.95 million grant for the Ascent at Salt Flats affordable housing development is a significant step in Grand Junction's efforts to address its severe housing shortage, particularly for lower-income residents. This funding, along with the broader Salt Flats Project, will help create more opportunities for families to access stable, affordable housing close to jobs and community resources.
