PARK CITY, Utah — The Park City Housing Authority will hold a public hearing and possibly take action on the Studio Crossing Housing Mitigation Plan at its meeting on Thursday, December 15.
This Studio Crossing Housing Mitigation Plan is intended to fulfill the affordable housing obligation for the Studio Crossing Project, a proposed development at 4001 Kearns Boulevard, next to the Park City Film Studio.
The land for the Studio Crossing Project was annexed into Park City in 2012 after a legal battle between the previous owners and Summit County. Initially, the approved project was slated to consist of a 374,000 square feet motion picture studio and media campus, and therefore would require no affordable housing. The studio space was built, but the rest of the area remained empty.
Now a proponent of Quinn Capital Partners, the Studio Crossing Project has evolved. The applicants brought a revised concept plan for the land to the Park City Council in December 2021 which consists of 60,000 square feet of mix-commercial space, 100 market rate residential units, and 185 affordable housing units, although only 65 units are required to meet the project’s housing requirements.
If approved, the 65 required affordable housing units would be built in the first phase of the Studio Crossing project, and the remaining 120 affordable housing units would be constructed during phase four. For the first 65 units, qualified renters must meet a requirement of 80% of the area’s average median income (AMI) or below. For the remaining 120 units, qualified renters must meet a requirement of 120% AMI or below.
According to a staff report from the Park City Housing Authority, tenants for the first 65 affordable housing units would initially be selected in the following priority order:
- Qualifying applicants employed in the immediate Quinn’s Junction neighborhood, including, but not limited to, employees of IHC Hospital, USSA, the Peace House, Summit County Health Department, Park City Ice Arena, and Summit Pediatrics;
- Qualifying applicants employed within Park City boundaries;
- Qualifying applicants employed within the Park City School District boundaries;
- Qualifying applicants employed within Summit County.
According to the staff report, the city’s housing team believes that the current iteration of the proposal will provide a large amount of community benefit.
“The original MDP had no affordable housing requirement and none that was planned to be developed,” said a Housing Authority staff report. “In addition, the 100 residential units in exchange for the proposed 100-room hotel will reduce the number of nightly rentals on the property. The Housing Team has reviewed the plan and believes it is compliant with the Housing Resolution, exceeds the number of units required, and is supportive of approving the proposed Housing Mitigation plan.”
The Housing Authority meeting will take place after the completion of the regular Park City Council meeting, which will begin at 5:30 p.m. at the City Council Chambers of the Marsac Municipal Building, at 445 Marsac Avenue, Park City.