South Salt Lake City Council approves ‘moderate income housing’ plan

SALT LAKE CITY — Residents of South Salt Lake City are a step closer to somewhat affordable housing after the South Salt Lake City Council approved a Housing and Transit Reinvestment Zone in the area of the Central Pointe TRAX and S-Line station.

 

A Housing and Transit Reinvestment Zone is described by the Wasatch Front Regional Council as a method used by cities and states to “tackle the housing crisis by facilitating mixed-use, multi-family and affordable housing development within a given radius of light rail, bus rapid transit, or commuter rail stations.”

The city plans a 200-acre housing unit that will contain 2,000 new housing units. The construction is in response to a new law that requires cities have plans for moderate income housing.

And in case residents are nervous about the cost, South Salt Lake City Community Development Director Jonathan Weidenhamer said they won’t be footing the bill.

“You’re bonding against that future tax increment to make sure we put the infrastructure in now, the pathways in, now. The upgrades to our walkways and everything else,” Weidenhamer said.

According to the FHA’s Center for Innovative Finance Support, such bonding is a component of tax increment financing, a public financing tool that can be used by local governments to stimulate development.

Widenhamer said the 20-year development will focus on mobility without vehicles.

“We’re creating dog parks, public spaces and rooftop decks that the public will have access to. We’re creating public plazas and walkability,” he said.

While the plan has been approved by the South Salt Lake City Council, it still needs the nod from the Wasatch Front Regional Council.

Related: Salt Lake City ranked one of the most affordable metros for renters