Provo creates affordable housing strategy for essential workers

Recently, a survey was conducted among public officials in the city of Provo regarding what affordable housing means to them. From all the opinions, it could be summarized that for them it ranges from a low-quality, small house to those properties that can be obtained according to the average income of the local area.

For them, especially, the administration is creating a strategy or a way for workers, who strive to keep the city functioning normally, to access the purchase of a home that is affordable and fits their income.

The Provo City Council owns a piece of land located near Lakeview Parkway and Bulldog Lane. In this place, the officials, who are driving the strategy, intend to develop a housing project that would consist of 74 homes.

The purpose of the project is to provide Provo with affordable housing; therefore, not all of the project would be intended for police officers, first responders, firefighters, teachers, nurses, etc. Only half of this housing development would be designated for public officials, while the other half would be available for any resident who wishes to buy there, adjusted to the current prices of the city’s real estate market.

According to a recent study, housing prices in the city of Provo, and throughout the state of Utah, are high. The average price of a property can exceed half a million dollars.

For this reason, the development of this housing project in this notable growing area seeks to combine various income levels and build several types of properties so that housing is more affordable and better aligned with the average incomes of residents, especially the income of city officials.

And although housing prices and interest rates in Provo are high, the project developers state that they already have a long waiting list of interested individuals who want to have affordable housing.

According to the purposes of this construction, the first homes are expected to be available by mid-2026. Apparently, the price of the homes in this project could be up to $100,000 cheaper than the properties currently on the real estate market.

The types of properties intended to be built in this project are single-family homes and some townhouses. And although the administration does not yet have a real estate developer or a construction company to carry out the work, it hopes to contribute, in the near future, with homes that are easier for many citizens who demand houses, especially for those essential workers in the city of Provo who need a place to live.

Available Foreclosures:

Provo: 45 homes available.

Utah County: 120 homes available.

By Elías DaSilva | 12 de Noviembre de 2024.