22 May 2960 Richmond Street
UPDATE: The project has received all the funding, and the entire building will be affordable units, 25-55% of AMI. 1,2,3, and 4-bedroom units. Might break ground as early as August.
UPDATE: The Rezone from R1/7000 to RMU-45 Residential Mixed Use was approved by the City Council August 18, 2020. Now the developer will work with the community to design a project.
Here is a link to the Planning commission Staff Report: of May 27. 2020. http://www.slcdocs.com/Planning/Planning%20Commission/2020/00108StaffReport.pdf
Here is the SHCC Letter to the Planning Commission, along with all the comments received from the community:
Community Development Corporation of Utah, is requesting a Zoning Map Amendment for the parcels at 2960, 2964, and 2970 Richmond Street, from R-1/7000 Single Family Residential, to R-MU-45 Residential Mixed Use. This would allow for approximately 60 mixed income housing units.The applicant argues that much of the surrounding development is moving towards higher density and this project is compatible with that growth and would help reach the housing goals of Salt lake City. With all the new apartments in Sugar House, less than 100 are considered affordable. This would help with that.
Please read through the documents here to understand this project. We have asked the petitioner to provide a few more renderings of what the building might look like in the context of this neighborhood. We also asked for a more detailed description of what affordable housing is, how it is determined, and who might qualify to live in this building. The financing to build a project with affordable units is very complex. Depending on the loan they can get, the price they have to pay for a piece of land, the interest rate on the loan(s), all factor in to how many units can be built and the percent of affordable units will be included. This building will be a mix of housing for people of all income levels.
If the rezone is approved, we may or may not see the actual building design for approval, depending on whether the project fits the zoning code or needs some variances.