Groundbreaking of new apartments at U of U to help student housing situation
SALT LAKE CITY — Officials at the University of Utah are hopeful that the groundbreaking of new studio apartments will help relief the on-campus housing crunch.
A total of 551 studio apartment units will be built. The apartments will include parking and will be accessible to Trax. However, the amount of rent students will pay is uncertain.
Ivory Homes CEO Clark Ivory says the apartments will be market value for living in-town, roughly $1,200 a month. Some units will be reserved for students in financial need.
“At least one in four students that comes to Ivory University Housing will receive substantial assistance so that they can afford to be here,” Ivory said to KSL NewsRadio.
The project is a collaboration with the Ivory family, the University of Utah and The Church of Jesus Christ of Latter-day Saints.
- Salt Lake City ranks second in nation for increase in housing prices
- Salt Lake sets aside millions for affordable housing units in the city
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