Matching Grant from Solomon Family Will Help Address Critical Housing Challenges
Mountainlands Community Housing Trust and Park City Community Foundation today announced a $1 million matching grant committed by the Solomon family to create new affordable housing units in Park City. This grant will act as a catalyst that will facilitate a multi-million dollar project to redevelop the properties of Holiday Village and Parkside.
“Our most sincere thanks goes to the Solomon family whose visionary and unprecedented donation of $1 million in matching funds has jump started our efforts to raise the next million,” says Pat Matheson, Executive Director of Mountainlands Community Housing Trust. “Over the coming months, Park City Community Foundation and Mountainlands will work collaboratively to inspire local philanthropy to support this important project.”
Beano Solomon was also recognized as one of the Citizens of the Year by Park City Rotary Club today. Solomon came to Park City 25 years ago and she and her family have been instrumental in supporting the community.
“Our goal is to keep Park City affordable for all income levels so that we can retain a thriving and diverse community, and allow the people who make our town run to live in our town,” said Joel Zarrow, President and CEO of Park City Community Foundation. “We believe that community governments, businesses, and donors all have an important role to play in solving this issue and are inviting contributions to meet this generous challenge grant.”
“We are working hard with project stakeholders to design and structure a project that will improve the existing units for our current residents and add a significant number of new units to the sites to address our community’s growing need for housing,” continued Pat Matheson.
The Community Foundation is partnering with Mountainlands in raising the matching dollars that will help to facilitate and enhance the redevelopment of Holiday Village and Parkside Apartments. The raised funds will improve the lives of hundreds of community members by reducing the project’s debt to achieve three core objectives:
- Affordability: Increase the number of new units that are restricted for households with lower incomes to ensure an appropriate balance of any market rate units.
- Carbon Neutrality: Improve environmental conditions for residents and decrease the project’s reliance on carbon-based energy.
- Equity and Inclusion: Create spaces and facilitate services that meet the diverse needs of residents, especially for senior residents and neurodiverse residents living with developmental disabilities. Mountainlands is excited to work with the local nonprofit, Bridge 21, to enhance the experience for neurodiverse residents.
The existing 122 units at Holiday Village and Parkside have been home to thousands of families over the 40 years since their completion, including many beloved community leaders and friends. Given the projects’ superb location, current and future residents will enjoy easy access to schools, grocery stores and employment centers via bus lines and other alternative modes of transportation.
Many of Park City’s most cherished and long-time residents live with disabilities and limited incomes. Rental subsidies secured years ago by Mountainlands support these and other low-income tenants, and these subsidies will remain in place.
To donate or learn more about the project, contact Pat Matheson at firstname.lastname@example.org.