Loan Amount: $9,098,000
Developer: Housing Connect and Columbus Foundation, Inc.
The Hub of Opportunity Apartments is an 146-unit multifamily affordable housing development, with 40 units restricted to household earning up to 50% of the area median income (AMI) and the remaining units restricted to households earning up to 60% of the AMI, serving low-income households and persons with disabilities as part of a larger 157-unit mixed-use HUB community. The project is distinctive for its transit-oriented design on ground-leased land from the Utah Transit Authority, incorporating integrated parking, commercial/retail space, and adjacent units for individuals with autism spectrum disorder, while a conditional use permit mandates 50 non-driving tenants to reduce parking needs and promote sustainability. Unique amenities and services include a community center, fitness room, lounge/library, flex space, in-unit Energy Star appliances and washer/dryer, onsite residential support for skill-building and independence, and leasing preferences for persons with disabilities.
4% LIHTC Loan Amount: $6,098,000; 9% LIHTC Loan Amount: $3,000,000