affordable housing

The clock is running out for the remaining five residents at the Prospector Condos. Park City purchased the 23 affordable housing units in May and put those residents on notice - they would need to be out by October 31. Melissa Allison brings us the latest:

The applicants for the Kings Crown Development is scheduled to run through their plans for the required affordable housing component of their project at Thursday’s city council meeting. Melissa Allison has more:

Summit County

After some discussion on Wednesday, the Summit County Council decided to take an opportunity to acquire a unit in Bear Hollow. Council Member Roger Armstrong says maybe they can tighten up the one-time deed restrictions on the unit, to make it affordable housing again.

The council is looking at a unit at 5573 North Oslo Lane. 

Armstrong said that nearly 20 years ago, they set up dozens of residences at Bear Hollow to be affordable housing. But they haven't stayed that way.

The lottery held last September for affordable housing in Park City had 92 applicants for four different projects. Two of them were Park City Municipal's which had homes on both Park Ave. and on Prospector Ave. Eleven Central Park Condos were awarded to qualified participants with the first closing on Friday. Though the journey has been a bumpy one for both the city the potential new owners - Melissa Allison finds out, all’s well that ends well.

Summit County

The South Point development application in Browns Canyon was denied by the East Side Planning Commission and Summit County Council.  It was originally a part of the Promontory special planning area but has since spun off as its own development.  However, the affordable housing requirements from Promontory were somehow assigned to the South Point development in 2016.    Carolyn Murray has this:

A Seattle based firm has acquired the affordable housing units at Elk Meadows. What might this mean for affordable housing in Summit County? David Boyle has more:

A default on a bank loan by Talisker Land Holdings LLC has opened the door for Park City to purchase a block of condominiums in the Prospector neighborhood at a low enough price that they could help meet the need for affordable housing.  Leslie Thatcher has the story:

The Summit County Council is still trying to determine the future of affordable housing in the area.  Council Member Glenn Wright said this was a major topic at the council's retreat last week, as Rick Brough reports:

At the Summit County Council's annual retreat on Monday, members talked about where they see the county 12 years out.  As Rick Brough reports, that timeframe wasn't chosen accidentally:

Park City Municipal

Park City Municipal has eight new affordable housing units ready for occupants.  The city has a goal to build a total of 800 units in town by 2026.  The city allocated $40 million to the project while making it one of the city’s critical priorities.  City housing officials say they've allocated enough to cover about 150 units. Carolyn Murray has this: