In 2023 Park City officials approved Mountainlands’ plan to demolish and rebuild the decades-old affordable housing complex located along Kearns Boulevard and Holiday Ranch Loop Road.
Mountainlands Community Housing Trust Executive Director Jason Glidden expressed disappointment that the nonprofit was unable to secure low-income housing tax credits from the federal government in its most recent application.
“We fell just short, we had a really strong application,” Glidden said on KPCW’s “Local News Hour” Wednesday. “What we’ve been doing is we’re refining our project a little bit to increase our scoring, so we feel that we have actually a better application being submitted this year.”
Glidden said Mountainlands will submit a new funding application later this month and expects to know if they’ve been selected in June.
Low-income housing tax credits are distributed by the U.S. Department of Housing and Urban Development to states based on population. The Utah Housing Corporation uses an application process with a scoring rubric to allocate the funding to specific projects.
Glidden said Mountainlands is hoping to secure $2 million for the redevelopment project, referred to as HOPA.
“It’s a very competitive process,” he said. “We felt really great that, while we didn’t get funded, we were very, very close. We were second, so we were right there. So again, we’re very optimistic for this year.”
The project approved by Park City planners involves 317 affordable apartments across seven buildings. Mountainlands staff previously said they plan to rent people making around 50% of Summit County’s area median income, or AMI.
50% of Summit County’s AMI equates to around a $53,000 salary for one person, according to 2024 data.
The timeline for the HOPA project will depend on the government funding. Glidden couldn’t commit to a start date for work to begin but said the project will take several years to complete.
Construction would be completed in phases so existing residents could continue living there.
