Park City readies to sell Old Town worker housing, priced as low as $205,000
Park City on Friday began the first steps toward selecting buyers for a workforce or otherwise affordable housing project in the northern reaches of Old Town, a process that is expected to draw widespread interest as rank-and-file workers compete to win the right to acquire a unit that would put them a few blocks away from Main Street, City Park and Park City Mountain Resort.
City Hall launched the pre-application process for the first phase of Woodside Park housing. The project is located on the 1300 blocks of Park Avenue and Woodside Avenue. There are seven units — three houses and four townhouses — available. Prospective buyers must qualify through their income. One of the houses is designated as affordable while the other two are designated as attainable. Each of the townhouses is designated as affordable. The income restrictions attached to the attainable units climb above those restricting the affordable ones.
The three houses are priced at between $205,000 for a 671-square-foot one-bedroom, one-bathroom footprint and $565,000 for a 1,612-square-foot three-bedroom, 2 1/2–bathroom home. The townhouse prices are set at $359,000 for two-bedroom, three-bathroom units that are in the range of 1,400 square feet.
“We’re looking to build what we call community housing,” said Jason Glidden, the housing development manager at City Hall.
The pre-application process, involving the completion of an online form, has a deadline of Dec. 6. The pre-application inquires about a work history in the Park City School District boundaries, ownership of real property and income. The pre-application stage does not require someone to gather the detailed financial information that would be required later in the process should they proceed. Completing the form, though, is mandatory to be considered for the selection process.
The information will be verified. Those who qualify will then be split among pools based on whether they are eligible through their income for an affordable unit or an attainable one.
City Hall also is using a weighted selection process, meaning some of the people seeking a unit will have a better chance of being picked as a buyer than others.
People who are full-time emergency responders — firefighters, police officers, emergency physicians, emergency nurses, maintenance or building workers such as snow-removal and waterworks crews and emergency response managers — are given weight in the selection process, as examples.
Others who have additional weight in the selection process include people considered to be community builders. The category includes municipal workers, people in the education field like teachers, administrators and day care providers, people who work for not-for-profit organizations and health care professionals and administrators.
Additional weight is also given to people who work inside the Park City limits or have been employed in the area for longer than five years.
Once the applications have been weighted, City Hall will use software from an outside firm to make the selections randomly. Officials opted for the software rather than holding a public selection process, effectively an in-person lottery, as has been the case previously.
The software will generate a list of potential buyers, ranked numerically. Those at the top of the list will be requested to submit a full application while the others will be put on a waiting list. The full application will request employment verification, income-tax returns, bank statements and brokerage-account statements such as 401(k) retirement balances. The outside firm will verify the qualifications. The potential buyers will then be matched with units.
City Hall anticipates the selection of potential buyers will be completed as soon as early January. The timeline of closings on the units will depend on the buyers securing financing. Officials project closings will start as early as in January.
The selection and sales process for the first phase of Woodside Park will unfold amid an aggressive City Hall housing program that is designed to add 800 units of restricted workforce or otherwise affordable housing by 2026. Officials are pursuing the goal through City Hall projects like Woodside Park, units the private sector is obligated to create and partnerships between the municipal government and the private sector.
Park City leaders over the years have seen the housing program as crucial to reducing commuter traffic and bolstering socioeconomic diversity in a community where the resort-driven real estate market has priced out many rank-and-file workers.
Information about the selection process is available on a municipal website created for the housing programs, parkcityhousing.org.
The pre-application is available at: tfaforms.com/4773724. For more information, contact Rhoda Stauffer, who is the affordable housing program manager at City Hall, at 615-5152 or firstname.lastname@example.org.
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