Could replacing HOAs with special districts help Denver's housing affordability?

To make Craft Companies LLC’s new 920 single-family home Independence development southeast of Denver more affordable, Principal Tim Craft said the development will not have a homeowners association.

Instead, it will be run by a quasi-governmental organization known as a special district.

“We do see this as a trend that will continue in the master-planned community space,” Craft said.

Several lawyers such as Matthew Dalton, a partner at the law firm Spencer Fane, told Denver Business Journal that they have also seen this trend. His firm is involved in forming more than a dozen new special districts this year to run residential developments in Denver, Colorado Springs, Aurora and the areas north of Denver impacted by the growth in development spurred by the oil and gas industries.

Special districts collect revenues for services by taxing property rather than collecting homeowners association, or HOA, dues.

Read more: https://www.bizjournals.com/denver/news/2018/09/06/special-districts-denver-housing-affordability.html

Jeff Keeley