We don’t often hear good news surrounding the housing market, but yesterday, we did.
Longmont leaders, project partners, and locals flocked to 913 Edge Circle to celebrate the grand opening of the True North housing community. At its peak, the complex will offer 185 income-restricted, affordable and attainable for-purchase homes.
The price is right
Home prices at True North start at $358,500 and reach only as high as $459,500. That’s a big deal when the current average for a home in Longmont is nearly $559,000, per data from Zillow. To make matters worse, living in Colorado is only getting more expensive. A recent report from the Colorado Chamber of Commerce ranks the state 48th in the nation for housing affordability.
These homes aren’t available to everyone, either. Once an applicant’s income crosses a certain threshold, they become ineligible.
“‘You don’t qualify because your income is too high.’ That’s a really cool message to send to your community,” Longmont City Manager Harold Dominguez said.
Demand is still sky-high
According to Molly O’Donnell, Longmont’s director of housing and community investment, there are roughly 2,000 affordable housing units currently in Longmont, and the demand is still exceeding supply. But more relief is on the horizon — O’Donnell says the city often receives inquiries from developers interested in affordable housing projects.
A long time coming
Getting True North to the finish line has been an idea several years in the making and not a moment too soon.
Construction began in October 2024, but planning started even earlier.
Per Dominguez, local businesses have long lamented the high cost of housing as it’s proved a high barrier for hiring new employees.
Employees successfully hired were often forced to live outside the city.
Learn more about the project here.