Denver School Addresses Teacher Housing Problem By Learning From California
The housing crisis isn’t exclusive to California. Residents in Colorado are dealing with rising housing costs, with a large part of the struggle being the ability to keep and retain teachers.
Now a network of charter schools in Denver is mimicking California’s methods for helping teachers buy a home. According to the Donnell-Kay Foundation, Denver is the second least affordable city and with teacher salaries averaging in the $40,000 to $60,000 range only top 1 percent can afford to buy a home.
The Denver School of Science and Technology has partnered with Landed to help cover the costs for housing for their teachers. We previously discussed Landed’s efforts with helping teachers at Campbell Union High School District.
So how does it work? Homebuyers from 10 percent of the down payment and Landed covers the other half. Once the teachers sold the house the money would be returned to the investors.
DSST hopes that not only will the project retain their current staff but also bring in more teachers to alleviate their shortage. Landed plans to extend the program to all Denver public school teachers if the initial project is successful.
Read more at Colorado Public Radio.