Applications for Park City housing outstrip availability
Friday deadline nears for Old Town, Prospector projects
June 27, 2017
The number of people wanting to purchase a unit in one of two City Hall housing projects that are under construction outstrips the availability, a scenario that was anticipated as the municipal government opened the application window earlier in June.
Mountainlands Community Housing Trust, a Park City-based not-for-profit organization that is accepting applications on behalf of City Hall, said on Monday afternoon it had received 42 applications for a unit in the municipal projects or one of two separate developments in the Snyderville Basin. Scott Loomis, the executive director, said a "substantial majority" of the applications were submitted by people interested in the municipal projects rather than the Snyderville Basin ones.
The deadline for applications is Friday at 5 p.m. Loomis said Mountainlands Community Housing Trust continues to receive calls from prospective buyers and potential lenders on the purchases. Loomis said the units in Park City area attractive for their pricing and locations.
"There isn't anything available anywhere for people to buy an affordable unit," Loomis said.
City Hall is building eight houses at 1450-1460 Park Ave. and acquired the unfinished 11-unit Central Park Condominiums on Prospector Avenue. Both of the projects are expected to be completed in the fall. The prices at the Park Avenue project run from $192,153 to $280,291 while the prices at the Central Park Condominiums range from $168,136 to $288,300.
People must qualify through incomes. A one-person household cannot earn more than $57,904 annually, a two-person household cannot earn more than $66,176 and a three-person household cannot earn more than $74,448. The numbers are based on the area median income.
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The Park City Council set aside two units for seniors and another four units for essential employees like emergency responders.
Lotteries will be held if there are more applications than available units in the three categories of potential buyers – the general population, emergency responders and seniors.
More information is available on the Mountainlands Community Housing Trust website, http://www.housinghelp.org. Select "Application for New Developments."