March 20, 2024

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A record $17.7 million in funding was approved to support the construction and preservation of affordable housing in Salt Lake City at the March 19 meeting of the Board of Directors for the Redevelopment Agency of Salt Lake City (RDA). 

This is the highest dollar amount committed to affordable housing projects as part of the RDA’s seven years of competitive Notice of Funding Availability. With this approval, funds from both the RDA and the City’s Housing Stability Division have been allocated for the building of 14 projects that will yield 1,549 total residential units ranging in affordability and size.  

The project locations stretch across the City from 1900 West to 1100 East, and 2600 South to 400 North. One of the projects will use the remaining $2.7 million from the RDA’s high opportunity fund, which was set aside in 2017 to promote affordable housing development in neighborhoods recognized as providing low-income households convenient access to physical and social assets such as employment, education, transit, and high-income neighbors that would increase residents’ likelihood of upward mobility. The other 13 projects will receive varying amounts of financial support, collectively using a total of $5.9 million in RDA funds and $9.1 million HUD HOME funds.

“This $17.7 million is special not only because of its magnitude but also because of its intention. Every single dollar is committed to affordable units in planned projects, not programs or initiatives, but 1,549 actual doors that families in Salt Lake City will call home,” said Salt Lake City Mayor Erin Mendenhall. “I am encouraged by this year’s robust response to our annual competitive affordable housing funding process, as it signifies the development community’s commitment to affordability at levels we have never seen before.”

Four hundred thirty units will be rented at rates affordable to those making 40% or less of the area median income (AMI) as established by the U.S. Department of Housing and Urban Development (HUD), and 264 units will have 3- and 4-bedroom layouts appropriate for families. These tallies are a direct result of the deeply affordable and family-sized unit priorities established by the RDA Board for the 2024 fiscal year, as funding eligibility was based on each proposed project meeting at least one of the following thresholds:  

• At least 10% of its total units shall be income and rent-restricted to 40% AMI; or 
• A minimum of 10% of the total residential units shall have three or more bedrooms and shall be income and rent-restricted to those earning 60% AMI and below; or 
• For affordable homeownership development, a minimum of 10% of the total residential units shall have three or more bedrooms. 

“As the RDA Board, we believe it is critical to prioritize projects that create housing units that are affordable and accessible to extremely low-income individuals and families that are homeless or at risk of homelessness,” remarked RDA Board Chair and District 2 Council Member Alejandro Puy. “Encouraging the development of affordable 3- and 4-bedroom residences gives families and larger households the opportunity to experience urban living.”  

Only nine of the 1,549 total units will be rented at market rates, with 163 reserved for those making 61-80% AMI.

The 14 projects are as follows: 

• Norbridge Court (511 W. 200 South)
• New City Plaza Apartments (1966 S. 200 East)
• 515 Tower – Conversion Phase I (515 E. 100 South)
• 2nd South Apartments (934-948 W. 200 South)
• The Catherine – Phase 1 (1881 W. North Temple)
• The Catherine – Phase 2 (1881 W. North Temple)
• Citizens West 4 (515 W. 300 North)
• Fairmont Heights, (2557 S. 1100 East)
• Project Open 3 (529 W. 400 North)
• Pharos Apartments (915 W. 200 North)
• Book Cliffs Lodge (1159 S. West Temple)
• Liberty Corner (1265 S. 300 West)
• 9Ten West (910 W. North Temple)
• Alliance House 1805 Rebuild (805 S. Main Street) 

To see a citywide map and the exact funding allocation, unit mix, affordability levels, public benefits, and estimated timeline for each project, reference the RDA’s official competitive funding and high opportunity area memos.  

About the RDA: The Redevelopment Agency of Salt Lake City (RDA) strengthens neighborhoods and business districts to improve livability, create economic opportunity, and foster authentic, equitable communities. Acting as a catalyst for strategic development projects, the RDA prioritizes redevelopment projects that enhance the City’s housing opportunities, commercial vitality, public spaces, and environmental sustainability. More information at www.slcrda.com. 

About Housing Stability: The Housing Stability Division of Salt Lake City develops and enhances livable, healthy, and sustainable neighborhoods with a focus on the core role that housing plays in the stability and well-being of City residents. With a focus on assisting low-income, vulnerable, and underserved communities through the administration of federal and other funding sources, Housing Stability facilitates direct services, resources, and opportunities empowering the lives of residents and addressing the needs of the City’s unique neighborhoods. More information at https://www.slc.gov/housingstability/.