Wasatch Development seeks development agreement to build 217‑unit mixed‑use project at Wolfpack and Hyde Park Lane

Representatives of Wasatch Development Group presented a concept for a mixed‑use development at Wolfpack and Hyde Park Lane and asked the Hyde Park City Council to work toward a development agreement that would allow the project to be built under the city’s prior mixed‑use standards rather than under a recently revised code.

The developer described a multi‑building site with a mix of apartment building types, ground‑floor retail on the corner building and on‑site amenities including a clubhouse, pool, fitness center, pickleball courts, dog parks and play areas. The proposal calls for about 217 total residential units and 22 AMI (area median income) units—roughly 10% of units designated for affordability under the developer’s proposal. Wasatch said the total building square footage was about 83,000; under the older mixed‑use standard the project team used, a 15% commercial requirement would have meant roughly 12,450 square feet of commercial space and the developer estimated the actual design was closer to about 14,000 square feet. The developer said the new mixed‑use code would instead require 40% commercial (about 33,000 square feet) and that applying the new standard would reduce the project’s residential unit count by an estimated 17–40 units, which the developer called “a complete nonstarter.”

Jaden Smith, Wasatch Development Group, said the project is designed to deliver a range of unit sizes (1‑, 2‑ and 3‑bedroom units; currently proposed split: 25% one‑bedroom, 50% two‑bedroom, 25% three‑bedroom) and a professionally managed rental operation with on‑site staff and maintenance. Bracken Atkinson, also with Wasatch, described the firm’s experience managing AMI/tax‑credit properties and offered to include reporting and deed‑restriction language to ensure the AMI units remain available at the agreed rates.

Council members asked about parking, retail demand for the corner location (including drive‑through configurations the developer showed), unit sizes, whether elevators and four‑story construction are planned, and how the AMI units would be enforced and reported. The developer said parking, retail leasing and stacking for drive‑throughs are part of the discussion and that some retail demand in off‑Main Street locations is uncertain; they said they would negotiate deed restrictions or a recorded agreement to secure the AMI units. The council generally signaled willingness to continue negotiating a development agreement and directed staff and council members to work with the developer on specifics; no final vote or agreement was adopted at the meeting.