Salt Lake City offers affordable housing

In order to avoid tortuous foreclosure processes that lead to the depletion of a city’s justice and resources, the administration of Salt Lake City has decided to build an affordable housing project, especially aimed this time at older people who are experiencing economic difficulties.

It cannot be ignored that among the most vulnerable people in a country are the elderly. Therefore, the Salt Lake City Housing Authority and other housing developers have joined forces to provide a solution for access to affordable housing for the senior population of their community.

The Utah Housing Corporation has joined this joint effort, allocating $20 million in federal low-income housing tax credits.

The Fairmont Heights Senior Community is a great solution to the problem and demand for affordable housing for adults in Salt Lake City. However, it is a housing project that is awaiting the final phases of city planning and approval.

According to the agreement, construction will begin next year and will take place in a former office complex located east of the famous Fairmont Park. It is an important strategic point because it is close to two large supermarkets, a medical center, and several businesses in the Sugar House commercial district.

The project will feature 110 new properties and will be built in two phases. In the first phase, half of the homes will be built, including 40 one-bedroom apartments and 15 two-bedroom apartments. In a second phase, the remaining 55 units will be completed. Like many new housing projects, the construction will have various amenities and services such as a recreation center, an indoor pool, pickleball courts, and a pet area.

As the city emphasizes, the sole objective of this housing project is to reduce the risks of seniors facing foreclosure. Therefore, the construction is exclusively aimed at residents who are over 62 years old.

To access this affordable housing program, in addition to meeting the age requirement, the person wishing to be part of this beneficial project must not earn more than 80% of the area’s median income per month. Most of these properties will be reserved for those earning 50% or less of the area’s median income, with a maximum rent between $600 and $1,150 per month.

Among the housing developers who have joined the creation of this project for seniors are: Housing Assistance Management Enterprise and Lincoln Avenue Communities, companies with a long history and significant participation across the country.

To complement the project, the Utah administration plans to extend its S-Line streetcar, which should be operational when the first phase of properties is available. According to the director of the Salt Lake City Housing Authority, the aim of these new adaptations is also to keep seniors close to the neighborhoods where they raised their families and where their families now reside.

Available Foreclosures:

Salt Lake City: 150 homes available.

Sugar House: 30 homes available.