Contrary to popular opinion, affordable housing is good for a community. It provides much needed housing for essential workers, including teachers, artists, waiters and bus drivers to name a few. It has a positive impact on price and with good planning reduces vehicle traffic, is attractive, and does not increase neighborhood crime.
These deed-restricted rental units are tied to the consumer price index every April. For example, in April of this year the rate was set at 1.9 percent. In Park City right now, there are 497 affordable units, with 20 percent owner-occupied and 80 percent rentals. By 2022 they hope to increase this number to 621.
Currently there are a number of affordable properties, including the Snow Creek Cottages (13 units), Empire Pass area of Deer Valley (42 mostly rental units) and Silver Meadows (42 homes). A lottery was held for purchase of the new 1450-1460 Park Avenue project with its 19 new units, including eight single-family homes and 11 condominiums. In the works are Park City Heights (79 units), 1440 Empire (9 units), and Talisker on Main Street (10 units). Park City’s a great place to live, if you can find a place.