More and more, the Denver communities’ disabled, elderly, families, and individuals are forced to choose between skyrocketing rents and paying for basic needs to survive. In Denver County, studies indicate that for a person to afford a median priced house, the earnings per hour should be an average of $35. This is far higher than the average earnings of $8.23 per hour minimum wage stipulated by the state (Colorado Public Radio).
Traditionally, the community expects the government to get involved in the building of subsidized housing in major cities to ensure that low-income earners have an affordable and safe place to live. However, the rate at which houses are being built is very slow, and it may take many administrations after that to deal fully with the affordability problem (Denverpost.com). For instance, there were just 823 subsidize units that were built last year, a very small number compared to the ever-increasing demand for safe and affordable housing.
Affordable housing is key to economic stability and mobility out of poverty. Additionally, affordability plays a significant role in maintaining a strong workforce and recruiting new businesses that ultimately lead to economic development (Denver.cbslocal.com). PMD was founded in 2017 as a response to this need: PMD believes in the self-sustainability of communities, and the need for their institutions to preserve and expand the amount of affordable housing in their region.