The Park City Planning Commission voted unanimously to grant a permit for the Homestake affordable housing project at its meeting Wednesday.
The project will bring 123 housing units to what is now a small parking lot owned by the city, bordered by the Kimball Arts Center and buildings in the Iron Horse district.
99 of those 123 units will be deed-restricted affordable. That means they’ll be available to people making anywhere from 40% to 80% of Summit County’s area median income, or AMI. The other 24 units will be market-rate.
80% AMI in Summit County for one person is about $75,000, according to Mountainlands Community Housing.
Project details call for primarily two bedroom units, along with some three bedrooms and studios.
The housing project is a public-private partnership between Park City Municipal and developer J Fisher Companies. It will add to the city’s goal of adding 800 new affordable housing units by 2026.
During a public hearing Wednesday, there was little criticism. Neighbor concerns centered around density, with some saying they were in full support, but simply thought the project was too big.
The building will be about 40 feet tall, with some sections going slightly higher.
The developer estimated that 315 people will live in the new building. Commissioner John Kenworthy called that number inaccurate, and pointed to the fact that the building can technically allow over 500 occupants.
“Because in winter — and I do a lot of work with seasonal housing — you’ll go to these two bedrooms, and you’ll go to these one bedrooms... and you’ll have 12 people," Kenworthy said.
"So we have a different animal here.”
Each unit will be allocated one underground parking space. The building will be located within walking distance of restaurants, shops, grocery stores, and transit stops. Dozens of bike parking spots will be available to tenants, though the commission pushed for more on Wednesday.
The city has several pedestrian improvements planned in the area in the coming years, from the addition of a 12-foot pathway on Homestake Rd., to the expansion of Munchkin Road.
The city’s prospective tunnel underneath Kearns Blvd., would also be just a short walk away.
Construction is expected to start next spring, with completion possibly coming as soon as fall 2024.
As work begins, additional parking options are expected to be made available for the Boneyard Saloon, Kimball Arts Center, and other neighbors that have historically relied on the Homestake lot for extra parking.
