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Springdale selects Park Place Residential to develop Trapper Circle workforce housing
Summary
Council selected Park Place Residential (doing business as Arcia Ridge LLC) to develop workforce housing on the Trapper Circle parcel, approving a staff motion to negotiate a development agreement that includes a proposed 50‑year deed restriction and rent‑restriction concepts tied to area median income.
The Springdale Town Council voted March 11 to select Park Place Residential, operating as Arcia Ridge LLC, as the town's development partner for workforce housing on the Trapper Circle parcel.
Tom Dancy presented the RFP process and staff recommendation and introduced Kyle Arbazoo of Park Place Residential. Arbazoo described a concept level site plan that "includes 10 one‑bedroom townhome units with garage parking for nine," and discussed design and cost considerations, including soil and foundation work that could increase site costs. He told the council the developer expects construction costs around $1.6 million and outlined a financing approach that relies on deed restrictions and income‑restricted rents to make the project viable.
On operations and affordability, Arbazoo said the developer proposes rent restrictions tied to Washington County AMI benchmarks rather than strict household income caps, and suggested a rent cap (staff and the housing committee discussed a model at about 100% AMI for illustrative purposes). He explained the proposal contemplates deed covenants and a long‑term land contribution from the town to enable development; the proposal in the RFP called for a 50‑year term and the draft outline provided a revisionary clause: if the developer fails to perform, property rights can revert to the town after a specified period.
Council members pressed on unit size, proposed rents, transfer/default protections and a definition of "substantial progress" tied to the construction schedule. One councilor asked staff to clarify substantial progress milestones for the development agreement; staff indicated those contract details and protections would be negotiated and returned for council approval in April.
Council voted to select Park Place and directed staff to negotiate a development agreement consistent with the proposal, including deed restrictions and verification protocols. Staff said they will return a finalized development agreement and related materials for council approval at an upcoming meeting.
Next steps include negotiating the development agreement language, clarifying construction milestones and protections for the town, and returning the contract for formal approval.
