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Garbett Homes project would build 46 townhomes, 23 set aside as affordable under CRA plan
Summary
Garbett Homes proposed a 46-unit townhome project (Bridal on 10th) with 23 units (50 percent) affordable at 80–100% of area median income; CRA staff recommended partial funding and described a down-payment assistance model using silent 0% second mortgages tied to Utah Dream Fund.
Staff described Garbett Homes' Bridal on 10th proposal as a 46-unit townhome development with half the units — 23 — proposed as affordable, ranging from 80% to 100% of area median income. Staff said CRA funds would support a pool of down-payment assistance housed with the Utah Dream Fund as revolving, 0% interest "silent" second mortgages that appreciate with the home’s value and are repaid to the fund at sale.
Staff told the board vertical construction for the Garbett development could begin this summer, with the initial round of home sales beginning in 2027 and finishing in 2028. Using the selection rubric, staff recommended partially funding Garbett’s proposal (to deploy Westside Community Initiative and school-district family-housing funds) and noted Garbett’s proposal also met a project priority for public open space but would require CRA funds to remain deployed for a longer affordability period (proposed minimum 35 years for the set-aside units).
