Sep 19, 2023 1924 views
This morning, Ivory Homes, in collaboration with Ivory Innovations and Call to Action, made a significant announcement regarding introducing seven groundbreaking housing projects to address the pressing issue of housing affordability in Utah.
The featured initiatives encompass:
These initiatives are geared towards making housing more accessible and affordable, targeting both renters and homeowners. The approach involves cost-saving measures in utilities, efficient construction techniques, and incorporating water-wise landscaping. The Salt Lake Tribune stated, "About a quarter of homes at Liberty Wells and the other six sites will be rented at market rates, while 35% will be set aside for those making 80% of area median incomes prevalent in the county where they live, and 40% will be for those earning 60% of AMI. (For comparison, an individual in Salt Lake City making 80% of AMI has a yearly income of about $59,400.)"
Utah Governor Cox underscored the situation's urgency: "When 77% of our state's residents can't afford current housing prices, we recognize that a significant issue must be addressed." Utah stands at the forefront of housing innovation, ushering in transformative changes in the homebuilding industry to provide high-quality, affordable homes for families in Utah and beyond its borders.
"Our two foundations are committed not only to these seven projects but to putting all of our horsepower and our money behind building affordable housing...We are very excited about these projects, and we're promising many more to come. We're incredibly enthusiastic about our partnership and could not have better partners with great commitment and great ability to perform."
-Clark Ivory