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SALT LAKE CITY — Utah Gov. Spencer Cox may sleep a little sounder tonight after Ivory Innovations and Call to Action Foundation revealed a partnership that will bring 850 affordable housing units across the state in the next three years.
"I get asked routinely. What are the things that worry me the most about the state of Utah? What are the things that keep me up at night?" said Cox at a kick-off event Tuesday. "I never hesitate to give the answer. It is always, always the No. 1 thing that I worry about in our state is the price of housing right now."
Ivory Innovations and Call to Action Foundation announced their collaboration to create the "Housing for Impact," a partnership between the two organizations to address the needs of affordable housing in different communities. Over the next three years, the partnership plans to build seven new housing developments with approximately 850 units. The units will vary from townhomes and condos to apartments.
"We're looking so much to this partnership. They have strengths that we don't and I think it'll be just a perfect marriage as we go forward," said Clark Ivory, CEO of Ivory Homes. "But going forward, our two foundations are committed not only to these seven projects but to put all of our horsepower and our money behind building affordable housing."
The upcoming developments identified in the project included: Salt Lake City, Lehi, South Jordan, Francis, Park City, Draper and Magna. Some of the projects include:
- South Jordan Senior Center and Housing: A city partnership consisting of 17,000-foot senior center and 138 senior apartments, with patios and decks for all units.
- Mahogany Ridge, in Magna: Part of an 800-unit master-planned community developed by Ivory Homes with a mix of cottages for sale and townhomes for rent. The townhomes will feature two-bedroom and three-bedroom floor plans and multiple neighborhood parks.
- Francis Commons, in Francis: The project will be a 16-unit townhome development within the larger Francis Commons subdivision, featuring two-bedroom units. A neighborhood park will also be included.
- Holbrook Farms, in Lehi: The development consists of 240 residential units, ranging from one to three bedrooms, with a neighborhood park. A clubhouse with a tutoring center will also be featured.
- Liberty Wells, in Salt Lake City: The land was donated by The Church of Jesus Christ of Latter-Day Saints to be developed into 36 townhomes and 30 apartments. The units will all be electric.
"When you think about how important housing is, it is the best way that we can help childhood poverty and economic mobility; upward mobility is affordable housing," said Crystal Maggelet, FJ Management CEO and founder of the Call to Action Foundation. "In Utah, if you are making double minimum wage, you would have to work 70 hours a week to be able to afford housing, we have lost 41% of our affordable units since 2011. In Utah, that is almost double where California and New York have laws and affordable units in the same amount of time. This is definitely an issue."
The housing developments announced are targeted to reach different demographics of the workforce, from seniors to families. There is a need for affordable housing nationwide but the need is rampant in the Intermountain West. The governor pointed to Utah's growing population and the need for more supply to meet the demand.
"When 77% of your state can't afford the price of housing today, we know that something has gone wrong. And we also understand how economics works ... growth comes with a need for additional housing the only answer to this is more supply," said Cox, who then pointed to the partnership as a positive step forward.
"I feel like the luckiest guy in the world. Every time I feel bad about my life I just talk to any of my 49 other counterparts and I feel so much better about life because Utah is an incredible place," Cox said. "It's an incredible place because of the people you see here today. We're making it better for all of us."
