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Developers have their eye on multifamily projects on Salt Lake City’s west side that would add over 1,000 new low-income apartments that would be in addition to the long pipeline already underway along the North Temple corridor.
A recent meeting of a state board that oversees the issuance of bonds that support low-income housing, developers requested new funding that would help build hundreds of new units in buildings that would be 100 percent low-income.
Not all of the projects are new, but the developers’ requests show an ongoing interest at building the units and show the projects would continue a trend of locating subsidized housing in a relatively small area west of Downtown and far away from the city’s east side.
Together, seven new buildings would add 1,111 apartments along a roughly one-mile stretch between 900 West and 1800 West near North Temple. Those projects depend on the developers receiving subsidies from any combination of funding sources at the federal, state and city levels.
Earlier this month, the state’s Private Activity Bond board, a tax-exempt bonding authority within the Utah Department of Workforce Services, considered whether to offer funding to the projects.
The projects are among the thousands of new units that have recently been built or are at some stage in the development pipeline along the North Temple corridor.
Alta North Station
- 1865 W. North Temple
- 289 units
- 100% affordable
9Ten West
- 910 W. North Temple
- 180 units
- 100 percent affordable
Alta Fairpark
- 140 N. 1000 W.
- 147 units
- 100 percent affordable
2nd South Apartments
- 934 W. 200 S.
- 105 units
- 100 percent affordable
Folsom Apartments
- 947 W. South Temple
- 105 units
- 100 percent affordable
MODA Griffin
- 915 W. North Temple
- 110 units
- 100 percent affordable
Promontory Place
- 1025 W. North Temple
- 175 units
- 100 percent affordable
Salt Lake City’s west side has been a hotspot for low-income housing, particularly within the city’s transit zoning area within about two blocks north and south of North Temple. The corridor itself is teed up to add thousands of new housing units in the coming years, and these new projects show the pipeline is staying full.
Developers have also eyed low-income projects during the ongoing slowdown in commercial real estate. Whereas market-rate projects have slowed to a halt in much of the country, developers who specialize in low-income housing have remained active and in search of subsidies that can help make their projects pencil.
These aren’t the only low-income projects that are at some stage of the development process in Salt Lake City whose developers sought funding from the PAB board this month. Among some of the others:
New City Plaza
- 1966 S. 200 E.
- 299 units
- 100 percent affordable
Liberty Corner
- 1285 S. 300 W.
- 200 units
- 100 percent affordable
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