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National Developer TWG Announces Construction of New $9 5 Million Affordable Senior Housing Development in Utah
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Sevier County Housing Summit
On Mar. 11 elected officials from city and town governments in Sevier County, along with mortgage lenders, commercial real estate developers, residential developers, planning commissions, and planners presented their perspective on the current housing conditions in the county.
A lack of affordable housing, along with a lack of housing overall, were two of the topics discussed along with being more prepared for commercial businesses. One individual compared the current housing market to the toilet paper frenzy of 2020, with the high demand leading to high prices.
From Nov. of 2019 to Nov. of 2020 the average sales price of homes in the county jumped from $155,072 to $283,643, an increase of 82.9%. This price rise was attributed to less homes being for sale as more and more people have been moving away from cities to come to smaller communities causing a 61% decrease in the number of homes for sale.
Deseret News
Funding is ‘the most money that housing has ever received,’ director says
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Kristin Murphy, Deseret News
SALT LAKE CITY Amid an ongoing housing crisis as the Beehive State’s population continues to grow, the Utah Legislature set aside $35 million for affordable housing projects this year, drawing gratitude from advocates.
“This is the most money that housing has ever received. Homelessness has received lots of funding in terms of building infrastructure that they need to support homelessness, but we also need to invest in the infrastructure of housing where people can live,” said Tara Rollins, Utah Housing Coalition executive director.
| Updated: 1:32 a.m.
Utah legislative leaders said the process of setting next year’s $21.7 billion budget was one of the easiest they’ve ever experienced. Having more than $1.5 billion in extra money to spend can help clear any roadblocks that pop up.
“This is probably the smoothest budgeting process I’ve seen in my nearly decade of doing budget negotiations with the Senate,” House Speaker Brad Wilson, R-Kaysville, told reporters Friday.
Last year, the unfolding coronavirus pandemic forced legislators to cut nearly $1 billion from the budget they had approved just a few months earlier. But, the economic damage from COVID-19 was not nearly as bad as they predicted.
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