agreed, this is a racist Jim Crow law that will benefit the rich white elites and corporations and drive out the middle class, poor who are disproportionately non-white.

That's just the the tip of the iceberg with the socio-economic effect.  Environmentally it will encourage low-denisty construction (<25k sqft & apartments 3 stories or less) and encourage suburban sprawl as it will shift the numbers in favour of building, living, renting and buying in exburbs and suburbs rather than Denver proper.