DENVER -- "Spend money now, save more later," is one of the principles behind Denver's Housing First program.

A new study shows the new program is helping Denver's homeless and also saving city taxpayers thousands of dollars.

About 150 people have been brought in off the streets so far and put in apartments.

The goal is to put 600 homeless in apartments eventually.

Steve Davis told the Denver Homeless Commission how much his life has changed in the past three years or so, thanks, he said, to Housing First.

"It's really done me a world of good, you know. I'm sober now. I don't drink any more, don't do drugs any more. I never thought I'd quit smoking weed," said Davis.

Davis is one of a number of people who have been out on the streets for at least several years when they were offered housing by the city, as well as other critical help.

"Housing First means you take a person straight off the streets who has been on the streets six or seven years," said Roxanne White, Department of Human Services manager. "You bring them inside and then you wrap them with services and supports, and you get them out of the emergency rooms, you get them out of detox, you get them out of the jails."

By doing that, the Colorado Coalition for the Homeless found that the city saved a lot of money. According to its research, the emergency services for chronically homeless individuals with disabilities was 73 percent lower after two years in the Housing First program, compared with the two years before.

It's a loud message, the Coalition president said, for both the city and state.

"So, if they can reinvest in appropriate housing and services, they can basically avoid larger costs down the road," said John Parvensky of the Colorado Coalition for the Homeless.

The state of Colorado has cut back on the funding for many of the services available for the homeless. The city of Denver has released $1.7 million to help pay for another 100 housing units.