The Engine House project under construction on Homestake Road will include 123 housing units, 99 of which are deed-restricted affordable.
The affordable units are targeting 60% of Summit County’s area median income, or AMI. A 60% AMI equates to a roughly $71,000 annual salary for a single individual, according to data from Mountainlands Community Housing.
Local developer Rory Murphy, who is leading the Engine House project, said they plan to be finished with construction in late December.
“We should have it substantially complete mid-, late-November, and then we’ll just be punching the units from there and getting it fine-tuned,” Murphy said on KPCW’s “Local News Hour” Sept. 29.
Murphy said unanticipated soil remediation work on the property pushed back the timeline for the project, which was initially slated to be done last spring.
The amenities at Engine House include a coffee bar, clubhouse, an area for dogs, and bike storage.
“We’ve tried very hard to make this a very livable and productive place for the community,” Murphy said.
Murphy said affordable one-bedroom apartments are being priced around $1,800, while two-bedrooms will be slightly above $2,200. Three-bedroom units will cost roughly $2,600.
“We cannot lease for less than six months and everyone has to be income qualified,” he said. “Its process is very strict, very exact.”
That’s because Engine House is utilizing over $20 million in low-income housing tax credits from the federal government.
That funding was necessary to make the public-private project financially viable.
Park City government is leasing the property, which was previously a parking lot, to the developer at a rate of $1 per year for 99 years.
Murphy said the state and Summit County have also provided funding for the project.
Over 500 people have already signed up to live at Engine House. Murphy said they will begin income qualifying those applications in the coming months.
To make the surrounding area more walkable and livable, Park City has been reconstructing Homestake Road this summer.
That project involves adding a new 12-foot multi-use path on the south side of the road and a new 6-foot sidewalk on the north. The work is scheduled to be completed by the end of October.
More information about the Engine House project can be found here.
