Utah Business has published news of the Fund's newest acquisition: Ascent at Marmalade, a 72-unit multifamily community in Salt Lake City's Marmalade district. The transaction closed on July 29, 2026, and the Fund will hold the property as its long-term owner, investing in capital improvements while keeping the homes affordable in perpetuity. What drew us to this property is what it can become. It sits within a couple of blocks of downtown, with direct access to transit, employment, health care, and the civic core of the capital city, and it is served by Washington Elementary, Bryant Middle School, and West High School, all within two miles.
Location like this is exactly where preservation does the most good. Ascent at Marmalade falls inside a Salt Lake City high opportunity area as defined by Dr. Raj Chetty and the Opportunity Insights team at Harvard, whose research established that the neighborhood a child grows up in has a measurable causal effect on their earnings as an adult. As Fund Manager Lukas Ridd put it, "we can preserve that access permanently, improve the homes that are already here." The acquisition brings the Fund's portfolio to 13 properties and 1,156 units preserved statewide, serving more than 2,700 residents.
Read the full announcement in Utah Business: Walk to school, stay in the neighborhood: Utah Housing Preservation Fund acquires Ascent at Marmalade