Park City Officials Think The Kings Crown Affordable Homes Will Go Quick

Aug 30, 2018

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:

The developers of Kings Crown – located just south of the Kings Crown ski run at Park City Mountain have plans to build 23 condos, seven townhomes and 27 single family lots  - eight of those units are listed as attainable and seven as affordable.

When it comes to who lives there, Assistant City Manager Matt Dias said there are several requirements, but the applicant only has to meet one of them.

“There’s a list of criteria for individuals – how long they’ve worked in the community, what their income requirements are. I think there’s a provision of working within the Park City School District – so all of that is in the staff report. So, like anything, when we’re advertising for affordable housing, all of those requirements will be made available to the public.”

The affordable homes are priced between $198,000 to almost $304,0000. The attainable homes prices range between $455,000 to $570,000. Dias said the numbers are based off the average median income in Park City.

Even at those prices, he believes the units are going to be very popular.

“If you think about that location, it’s a wonderful location," Dias said. "Its arguably a ski-in, ski-out location. You can walk in and out of Main St., utilize transit, its right next to the library. I mean, I can imagine it will be a very attractive location for a family, or for individuals that maybe it’s a two-income looking for a house like that. Unfortunately, in our community, that product, there’s not too much available right now. I mean, like you I see what’s going on with housing prices and so, we actually think there’s going to be a very, very strong demand for those units.” 

Thursday’s city council meeting begins at 6 p.m. at the Marsac Building.

I’m Melissa Allison, KPCW News.