Who it serves

Grand Junction is facing a serious housing challenge. The City’s 2024 Housing Strategy shows that we need more homes for people at all income levels —from families looking to buy their first home, to seniors and workers needing affordable rental options.

Over the past few years, housing costs have risen much faster than incomes. In 2019, many homes were still within reach for middle-income families. But by 2025, the median home price had climbed to $420,000 — a 74% increase in just six years. At the same time, higher interest rates have made it even harder for families to qualify for a mortgage. In 2021, nearly half of homes sold were affordable to moderate-income households; by 2024, that number had dropped to less than 1 in 10. Less than 81% of households can afford current home prices in Grand Junction.

The rental market tells a similar story. Since 2019, average rents have gone up by 44%, while household incomes have barely moved. Vacancy rates are at historic lows, and lower-cost rentals have nearly disappeared from the market. Many renters now pay close to a third of their income on housing, leaving little left over for savings or everyday expenses. Currently, less than 54% of households can afford current rental rates in Grand Junction

Altogether, we need more than 4,000 new homes in the coming years to keep up with demand — including both rentals and homes for sale. This includes a shortfall of about 2,700 moderately priced for-sale homes and more than 1,200 affordable rental units.

The Salt Flats Project is part of the solution. By building a mix of affordable, attainable, and market-rate housing, Salt Flats will help make sure Grand Junction remains a place where teachers, nurses, service workers, young professionals, and families of all sizes can find a home that works for them.

To utilize the State grants for infrastructure and land acquisition, the City of Grand Junction committed to ensuring the site is no less than 70% of units must meet the definition affordable housing. Click here to see the definition of affordable housing.

30% of the units can be attainable and market-rate housing, these units help to cross subsidize and get even lower rental and homeownership rates on other units.

Currently, the Salt Flats project is expected to deliver between 324 and 550 new homes.

Based on the proposals — which may change as financing, planning, and fire review processes move forward — here is a quick overview of the first phase of the housing units, along with their estimated price points and the households they are designed to serve:

Volunteers of America/MGL - Affordable Rental Housing - 62 Units:

Construction is expected to begin in Winter 2027, with final completion in Spring 2028. The project will provide 62 new homes specifically for seniors and veterans, including 13 project-based vouchers for veterans. These homes will be reserved for households earning 60% of the Area Median Income (AMI) — which is about $50,000 for a two-person household. At this income level, the maximum allowable rent (including utilities) would be $1,377 for a two-bedroom or $1,147 for a one-bedroom. However, rents will ultimately be set so that no household pays more than 30% of their actual income, ensuring affordability tailored to each family’s situation.

Brikwell - The Ascent at Salt Flats - Affordable Rental Housing - 144 Units:

Construction is expected to begin in Spring 2026, with completion anticipated in Spring 2027. This project will bring 144 new homes for single individuals and families, offering a mix of studios, one-, two-, three-, and four-bedroom apartments. Brikwell plans to use an income averaging approach across the development at approximately 58% of the Area Median Income (AMI). This means some units will be set as low as 30% AMI and others as high as 70% AMI, creating a balance that allows for cross-subsidization within the project. For example, a studio at 30% AMI would have a maximum rent of about $535 per month, while a four-bedroom at the same income level would be capped around $888 per month.

Rural Homes - Affordable Homeownership - 48 Units:

Construction is expected to begin in Winter/Spring 2026, with completion anticipated in Winter/Spring 2027. This project will deliver 48 new for-sale townhomes designed for families. Rural Homes plans to use modular construction to build both townhomes and single-family homes affordable to households earning less than 100% of the Area Median Income (AMI).

This approach allows families to purchase homes at prices well below the general housing market. For example, a family of four earning 80% of AMI could purchase a home for approximately $262,000, or about $2,040 per month including utilities and insurance.

Detailed information on future phases COMING SOON!

A general estimate of future phases and units: