Estimated read time: 2-3 minutes
MURRAY — A new $13 million housing project is coming to Murray to provide affordable senior housing with a preference for military veterans.
"We are honored to be working with First Step House and the Utah Housing Corporation to bring this project to life and provide affordable housing to seniors who need it most," said Ryan Kelly, vice president of tax credit development at TWG, the real estate company in charge of this project. "The project will also support veterans in the community, with priority given to those who have served in our military."
Real estate development company TWG specializes in commercial, market rate, affordable and senior housing. The new developments in Murray will be called Residences at Fireclay and will be located at 152 W. 4250 South.
The four-story building will house 40 one-bedroom apartments for seniors aged 62 and up. The units are reserved for those earning up to 50% of the area median income and they will prioritize military veterans, TWG said in a statement.
TWG partnered with Salt Lake City-based nonprofit First Step House to provide services and referrals for disabled and homeless seniors in need of help. First Step House helps people in the community by addressing challenges of addiction, mental health, homelessness and criminal justice involvement.
"This partnership ensures that residents with disabilities receive the supportive services they need to build productive, meaningful and healthy lives," TWG said.
Four units of the Residences at Fireclay will be reserved specifically for disabled seniors and five units will be for seniors who have experienced homelessness. TWG said this will help combat the nationwide homelessness crisis that disproportionately affects U.S. veterans by providing a stable and affordable environment for homeless and at-risk veterans.
Utah Housing Corporation, the Olene Walker Housing Loan Fund, Raymond James Financial, and Horizon Bank are all also partners on this project.
"TWG was awarded low income housing tax credits in consecutive rounds of competition, and these tax credits provide the foundational capital for development. UHC is pleased to partner with TWG on Residences at Fireclay, which when complete, will provide low-income Utahns access to an affordable place to call home," said David Damschen, president and CEO of Utah Housing Corporation.
"Utah's need for affordable housing is at an all-time high, and partnerships such as this are critical to meeting that need."
This housing project will join TWG's other affordable housing project in West Haven called the Residences at West Haven which opened this fall.
The first units of Residences at Fireclay will become available in 2025, and construction is expected to begin by the end of this year. The new property will include a fitness room, a community-raised garden, a community room with a kitchen and a computer room.