Affordable Housing in
A Resort Community
ULI Housing Opportunity 2014
Denver, CO
Area Profile
Affordable Housing in Park City
 Year Round population of 7,558 & influx during high season ≥ 35,000
 67% o...
Affordable Housing in Park City
0
100
200
300
400
500
600
700
800
Less than
$15K
$15K to
$35K
$35K to
$50K
$50K to
$75K
$7...
Affordable Housing in Park City
Affordable Housing in Park City
2012 Park City
Housing Affordability Analysis
% of
workforce
wage Annual Income
Monthly re...
Use of City Resources
Affordable Housing in Park City
 Gap financing, lines of credit
 Employer-assisted housing
 Donat...
Snow Creek Cottages
Affordable Housing in Park City
 Highly Energy Efficient
 PV and solar thermal
 Ground Source Heati...
Rhoda Stauffer
Affordable Housing
Park City Municipal
Affordable Housing in Park City
Rhoda.stauffer@parkcity.org
435-615-...
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Housing Opportunity 2014 - Innovative Financial Structures to Impact Resident Health, Rhoda Stauffer

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Rhoda Stauffer, Park City Municipal Corporation

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Housing Opportunity 2014 - Innovative Financial Structures to Impact Resident Health, Rhoda Stauffer

  1. 1. Affordable Housing in A Resort Community ULI Housing Opportunity 2014 Denver, CO
  2. 2. Area Profile Affordable Housing in Park City  Year Round population of 7,558 & influx during high season ≥ 35,000  67% of jobs in tourism sector – 25% below average wages  Area AMI for 2014 = $98,000 (88,200 – family of 3)  Current Park City Workforce Wage = $52,826  Households needing assistance range from very low-income to those earning over 200% of WFW ($112k annually)  Rural -- Non-entitlement area – high cost area doesn’t match Federal subsidy programs
  3. 3. Affordable Housing in Park City 0 100 200 300 400 500 600 700 800 Less than $15K $15K to $35K $35K to $50K $50K to $75K $75K to $100K $100K to $150K $150K and more #ofhouseholdsineachincomecategory Income Distribution in ParkCity 2010 2000 1990
  4. 4. Affordable Housing in Park City
  5. 5. Affordable Housing in Park City 2012 Park City Housing Affordability Analysis % of workforce wage Annual Income Monthly rent or mortgage Purchase Price 60% $ 33,248 $ 720 $ 124,166 80% $ 44,571 $ 966 $ 174,974 100% $ 55,714 $ 1,207 $ 224,974 120% $ 66,857 $ 1,449 $ 274,991 150% $ 83,571 $ 1,811 $ 349,972 175% $ 97,500 $ 2,112 $ 412,474 200% $ 111,428 $ 2,414 $ 474,971
  6. 6. Use of City Resources Affordable Housing in Park City  Gap financing, lines of credit  Employer-assisted housing  Donated land  Developer  Loan Guarantee  Regulatory relief  RDA
  7. 7. Snow Creek Cottages Affordable Housing in Park City  Highly Energy Efficient  PV and solar thermal  Ground Source Heating/cooling  SIPs Panel construction  Recycled materials  Sold at 55% of market value
  8. 8. Rhoda Stauffer Affordable Housing Park City Municipal Affordable Housing in Park City Rhoda.stauffer@parkcity.org 435-615-5152

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