Real Estate

123-unit affordable housing complex breaks ground in Park City

“Access to affordable housing is a critical community need and a top priority for the City Council,” said Park City Mayor Nann Worel.

PARK CITY, Utah – In attempt to help relieve Park City’s shortage of affordable and workforce housing, Park City Municipal has collaborated in a public-private partnership with J. Fisher Companies and local developer Rory Murphy to create the EngineHouse development, previously known as Homestake, the largest affordable housing project in Park City’s history.

Community leaders and partners on the project gathered yesterday, Oct. 4, to celebrate the groundbreaking of the 123-unit development. Located at 1875 Homestake Road, the development will offer 99 deed-restricted affordable housing units available at 60% of the area median income (AMI) in addition to 24 market-rate units.

46 one-bedroom units, 74 two-bedroom units, and three three-bedroom units are to be built on the 1.86-acre, triangle-shaped lot. Included in the development is 42,237 square feet for 125 underground parking spaces and eight electric vehicle charging stations.

The maximum occupancy of the EngineHouse development will be around 400 renters.

“Access to affordable housing is a critical community need and a top priority for the City Council,” said Park City Mayor Nann Worel. “A great deal of time and dedication went into this partnership, and I am beyond thrilled to welcome hundreds of our hard-working community members home to affordable residences in the heart of our town.”

All units in the development will include cutting-edge architecture, custom cabinets, quartz countertops, and washers and dryers. Community areas, a pet grooming room, an off-leash dog run, a storage and maintenance area for bikes, and outdoor social patios are additional community amenities.

The 99-deed restricted units target individuals with incomes from 40% AMI to 80% AMI.

50% AMI for an individual in Summit County is $52,000, while 80% AMI for an individual in Summit County equals $83,200.

“We are excited to be a part of a great public-private partnership with Park City Municipal that will help deliver much needed housing in Park City. This project was only possible because of the great work and dedication from the City Council and Staff,” said Owen Fisher, Managing Partner at J. Fisher Companies.

Park City Municipal adopted an initiative to develop 800 affordable housing units by 2026, to which EngineHouse’s 99 deed-restricted units will contribute.

The EngineHouse development will be located in walking distance of grocery stores, restaurants, public transit stations, trails, and open spaces. The land for EngineHouse was acquired by Park City Municipal in 2017 and will be ground leased for 99 years.

Strategic Builders, a subsidiary of J. Fisher Companies, will construct the development. Construction is estimated to be complete in June 2025. Olive West, a J. Fisher Company, will serve as the property manager. Pre-leasing activities are expected to start in early 2025.

More information about EngineHouse can be found here.

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