A new affordable housing development for seniors is being developed in Murray, Utah.
Residences at Fireclay will offer 40 one-bedroom apartments for residents 62 and older. The units are reserved for those earning up to 50% of the area median income, with a preference for veterans. The project also includes four units reserved specifically for disabled seniors and five units available for seniors who have experienced homelessness.
Developer TWG is partnering with First Step House, a Salt Lake City-based nonprofit that assists disabled and homeless seniors. This partnership ensures that residents with disabilities receive the supportive services they need to build productive, meaningful, and healthy lives.
“We are honored to be working with First Step House and the Utah Housing Corp. (UHC) to bring this project to life and provide affordable housing to seniors who need it most,” said Ryan Kelly, vice president of tax credit development at TWG. “The project will also support veterans in the community, with priority given to those who have served in our military.”
Residences at Fireclay will also include a fitness room, a community raised garden, a community room with a kitchen, and a computer room.
The $13 million development is being financed with the help of low-income housing tax credits from UHC and syndicated by Raymond James Affordable Housing Investments. Additional financing for the project comes from the Olene Walker Housing Loan Fund and Horizon Bank.
“Utah’s need for affordable housing is at an all-time high, and partnerships such as this are critical to meeting that need,” said David Damschen, UHC president and CEO.
This project follows the opening of Residences at West Haven, an affordable senior housing project developed by TWG in West Haven, Utah, this fall. Construction on Residences at Fireclay is expected to begin this year, and the first units will become available in 2025.
Founded in 2007 and headquartered in Indianapolis, TWG is a fully integrated real estate development company specializing in commercial, market-rate, affordable, and senior housing developments across the country. The firm has transacted over $2 billion in development costs and over 10,000 units nationwide.