New affordable housing development breaks ground in Salt Lake City

SALT LAKE CITY — City leaders and developers broke ground Thursday on a new affordable housing project aimed at helping working families stay in Salt Lake City as housing costs continue to rise.

The development, known as Camden Court, will bring 96 income-restricted apartment units to the city's west side. Officials said the project is designed for households earning between 30% and 60% of the area median income.

The groundbreaking comes as Salt Lake City continues to face housing affordability challenges driven by years of population and job growth. City officials said nearly half of renters in Salt Lake City are considered cost-burdened, meaning they spend more than 30% of their income on housing.

Charles Schmid, CEO of Chelsea Investment Corporation, said the project represents more than simply adding housing units.

"Affordable housing is a hot topic all over the country, but it's much more than just about numbers of units and dollars," Schmid said during the groundbreaking ceremony. "To us, it's about our mission, which is to change lives for the better in the communities we serve."

Chelsea Investment Corporation, a family-owned affordable housing developer, is partnering on the project.

Jon Olsen, Chelsea Investment's Utah representative, said Camden Court's affordability will be made possible through a combination of federal, state and local funding incentives.

According to Olsen, qualifying residents could pay rents starting at about $600 per month for a one-bedroom apartment, while larger three-bedroom units could rent for as much as $1,800 per month, depending on household income.

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"The goal always with these projects is to keep them affordable," Olsen said. "No more than about 30% of your income should be going to rent."

Salt Lake City Mayor Erin Mendenhall said the project builds on ongoing investments in the surrounding neighborhood, including improvements along 300 West that added protected bike lanes, landscaping and pedestrian-friendly infrastructure.

Mendenhall said the development will provide families with access to nearby parks, grocery stores and other amenities while creating additional housing opportunities in a growing part of the city.

Construction is expected to take about 20 months, with Camden Court scheduled to open in spring 2028.

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