The Salt Lake City Council, acting as the Redevelopment Agency decided where to put $17.6 million dollars that was set aside for affordable housing.
The money will essentially lead to the creation of 700 to 850 low-income units. The city’s long-term housing plan is to create 1000 units scattered throughout the city. That’s roughly the number of people that will be displaced when The Road Home shelter closes. A previous study shows the city needs several thousand more to meet current demand. Salt Lake City Councilwoman Lisa Ramsey Adams says it’s a start.
“We aren’t looking to have blocks of huge buildings that are all low-end affordable,” she says. “We want a really good mix and we would love to see townhomes, and we’re making funds available for that.”
Ten million dollars has been set aside for developers who have city-approved projects in mind and three million will go toward improving existing affordable housing. The city also plans to turn the Capitol Motel site on State Street into housing.
Adams expects construction to begin on some of those projects within the year.