Park City, Boyer partners in housing project

Park City has agreed to be full partners with The Boyer Co. in a planned housing development on the city's eastern border.

By unanimous vote last week, the City Council decided to spend $5.5 million to buy land in the 200-acre project.

If built, the new neighborhood will be across the street from a shiny new Intermountain Healthcare hospital at the intersection of state Route 40 and S.R. 248.

Newly re-elected Mayor Dana Williams has thrown his full support behind the project, which could include up to 60 "affordable" homes controlled by the municipality.

"Basically, one of the things that the community has talked about for a long time is the government being more proactive about the development going on in the area," Williams said. "This is a little bit out of the norm in terms of things that we've done, but it gives us certain opportunities and certain control."

In addition to the affordable housing, the project could include up to 200 market-rate single-family homes. However, part of Park City's plan in becoming a full partner in the project is to reduce the overall density, said city affordable housing coordinator Phyllis McDonough Robinson.

The affordable units will fulfill work force housing requirements for a plethora of projects in the city, including the hospital and residential developments. City code requires the affordable-housing component to ensure that its work force can afford to live in the trendy ski-resort town.

Profit margins for the city have not yet been estimated, but outgoing City Councilman Jim Hier says the city's investment so far is more about project control than revenue.

"We have veto and approval power over anything that gets planned," Hier said. "Whether the city will make any profit on it or take our profit contribution in additional open space has not yet been determined."

Boyer and the city plan to write a development agreement in the next two years. If they fail to agree in that time, the city could be forced to pay $5.5 million more for the rest of the property, or Boyer could go it alone.

If the parties agree, the property in question will have to be annexed into the city from unincorporated Summit County. The project has been in the works five years.

"It's a unique opportunity when you have a chance to work with a municipality," said Boyer project manager Patrick Moffat. "I think this is a great deal for the city. It's a great deal for us."

Park City is already making plans to mitigate the additional traffic that would be created by the project. A 750-space park-and-ride lot has been built just a mile away, and S.R. 248 could be expanded to accommodate a dedicated bus lane.

Thursday, the City Council will meet with Boyer to hammer out details of profit-sharing and co-tenancy.

To read the contracts and staff reports online, visit parkcity.org.

e-mail: rpalmer@desnews.com