On Tuesday, November 19th Mayor Jackie Biskupski joined Wishcamper Partners Development, Utah Housing Corporation, and Salt Lake County officials for a groundbreaking of the rehabilitation of Lincoln Tower Apartments.
Lincoln Tower Apartments is a nine-story, 95-unit affordable senior living community in Sugarhouse, originally built in 1980. Salt Lake City’s Housing Trust Fund, using dollars from the City’s Funding Our Future initiative, provided a $1.3 million-dollar low-interest loan to assist with the project. Under the terms of the loan, the units must remain affordable for individuals making less than 60% area median income for a period of 55-years.
According to data from Utah Housing Coalition, approximately 11 percent of Utah’s population is 65 and older, with 7 percent of senior led households living beneath the poverty level.
“Creating and preserving affordability for individuals at every age is central to Salt Lake City’s affordable housing efforts,” said Mayor Biskupski. “Many of the residents of Lincoln Tower have called Salt Lake City home for decades, they are part of who we are as a City, and they deserve places of dignity to live during their golden years.”