Called ‘The Village,’ the master-planned development is located in Silver Creek and will consist of 38 condominiums. This includes a mix of studio and 1, 2, and 3-bedroom dwellings.
According to C.W. Urban, a Utah real estate developer, there will be 24 units sold as workforce housing to households earning 55% to 80% of the Summit County Area Median Income. The remaining 14 units will be sold at market prices.
The affordable units will be integrated with the mark rate units. C.W. anticipates having all units completed within 18 months.
The Village at Park City is part of Silver Creek, a 250-acre, fully entitled master-planned community located off Interstate 80 and Highway 40.
According to C.W., the neighborhood began in October 2016 and has a variety of current and future community amenities.
Capital was provided by Taylor Derrick Capital (TDC) a private real estate lender based out of Salt Lake City.