In the heart of Utah's breathtaking landscapes and vibrant urban centers, an escalating concern looms: the increasing challenge of securing affordable housing. As the cost of living rises and demand for housing surges, affordability in Utah is becoming an ever more pressing issue. In response to this growing crisis, the Utah Housing Preservation Fund (UHPF) is dedicated to ensuring that safe and affordable housing remains within reach for all Utah residents.
By focusing on existing affordable housing properties, UHPF aims to create a sustainable and inclusive housing ecosystem for the benefit of the entire community. Through a multifaceted approach encompassing the purchase, deed restriction, and meticulous management of properties, the Fund ensures that Utah's current affordable housing stock remains accessible to those who need it most.
This commitment is especially critical in the face of expiring Low-Income Housing Tax Credit (LIHTC) restrictions and the encroachment of out-of-state investment, which threaten to reduce the already dwindling affordable housing stock in Utah.
The mission of the UHPF would be impossible without the unique blend of private and public investment partners that are coming together to build a sustainable solution to the housing crisis in Utah. By collaborating with a wide array of social impact organizations, we are able to help our tenants holistically, providing them with the assistance they need to succeed. Financial partners help to provide stable housing to those in need and solve Utah’s housing crisis.
Social Impact Organizations include:
Financial Partners Include:
One of the cornerstones of UHPF's strategy is the concept of "evergreen affordable housing." This visionary approach signifies the Fund's steadfast resolve never to sell the housing it acquires, thereby keeping it affordable in perpetuity. By adopting this principle, UHPF not only prevents the displacement of vulnerable communities but also stabilizes rents at a level that remains attainable for low-income individuals and families.
In essence, UHPF's work transcends mere property management; it is a commitment to the social fabric of Utah itself. By safeguarding existing affordable housing, the Fund fosters stability, resilience, and inclusivity within communities. Families can lay down roots without fear of displacement, and individuals can pursue their aspirations without the burden of exorbitant housing costs.
Moreover, UHPF's impact extends far beyond the present moment. By preserving affordable housing for future generations, the Fund creates the foundation for a more equitable and sustainable future. Each property safeguarded today is a testament to our collective responsibility to uphold the principles of fairness and compassion for years to come.
In a landscape where change is constant and challenges are manifold, the Utah Housing Preservation Fund stands as a steadfast guardian of Utah's housing legacy. Through its unwavering dedication to the ideals of affordability and accessibility, UHPF illuminates a path forward—a path where every Utahn has the opportunity to thrive in a place they can proudly call home.
Learn more about the Fund’s impact in the 2023 Utah Housing Preservation Impact Report here.