Pikes Peak Park Helps Address Affordable Housing in Pueblo, CO

Courtesy of Tamara Pleshek

Pueblo, Colorado’s housing market, like many cities, has its own unique set of dynamics. 

“One of the main challenges I see is the cost of living,” says Tamara Pleshek, director of real estate and community development at nonprofit NeighborWorks Southern Colorado. 

For some, Pueblo’s proximity to Colorado’s two largest cities, Denver and Colorado Springs, makes it a worthwhile commute. 

Pueblo is more affordable compared to those cities, but Pleshek notes that brings challenges in itself. More growth strains the city’s resources and raises prices, resulting in less affordable housing in Pueblo, CO.

Then, there’s the question about supporting local businesses. 

“Are these people spending their time and money where they live or where they work? And what impact does that have on Pueblo’s economy?” she says. 

Pleshek’s nonprofit is a member of NeighborWorks America, which has nearly 250 organizations across the U.S. The organization focuses on homeownership and wealth building for low- and middle-income families by providing financial counseling from U.S. Housing and Urban Development-certified specialists, offering down payment assistance and building new homes. 

In 2021, the City of Pueblo commissioned a housing study that concluded it would need 9,600 units by 2031 to support projected growth. 

“Pair that with home prices and current wages, and you have homes that people simply can’t afford to purchase,” Pleshek says.

Creative Solutions 

Partnering with NeighborWorks, United Way, Posada and other local organizations, the Housing Authority of the City of Pueblo addresses affordable housing needs for low-income families, the elderly and disabled.

“There’s a crisis because there aren’t enough low-income rentals,” says Pat Rivas, the housing authority’s assistant executive director. “The need is there, but is the funding and the availability there? That’s the issue.” 

She says when people are housed, it means greater economic stability, social equity, educational opportunities and workforce attraction. It makes the community healthier. 

“All are key points that help Pueblo,” Rivas says. “We have the land. We just need the housing, and the Housing Authority can help if we can get more developers to build.” 

One major project underway on Pueblo’s west side is NeighborWorks’ Pikes Peak Park, an 80-acre, 600-plus unit, master planned community that includes commercial space, a community building, fire station and over 15 acres of public parks and green space. In 2025, the community’s first condos, townhouses and single-family homes will be ready for move in. 

“They come in all price ranges by using various affordability mechanisms like sweat equity, down-payment assistance and a new concept that we adopted using a shared equity model through deed restriction,” Pleshek says. “Our focus needs to be helping those lifelong renters become first-time homebuyers and making it easier and affordable for them to do so. This will build a strong economy for generations to come.”