Hunt Capital Partners and CJM Development Group announce the grand opening of Homestead Landing Apartments, which took place on April 22. Located in Price, Utah, the brand-new residential development introduces 168 affordable two- and three-bedroom homes dedicated to households earning up to 60 percent of the Area Median Income.
This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20260520380318/en/
A kitchen inside a newly constructed apartment home at Homestead Landing Apartments in Price, Utah. The 168-unit affordable housing community, developed by Hunt Capital Partners and CJM Development Group, offers two- and three-bedroom homes for households earning up to 60 percent of the Area Median Income.
The newly constructed community provides residents with a comfortable, modern living experience. Each apartment home features central air conditioning, walk-in closets, and fully furnished kitchens. These kitchens come complete with a refrigerator, an in-unit washer and dryer, a microwave, a dishwasher, and a range with an oven. Beyond the individual apartments, Homestead Landing offers a wide variety of shared amenities designed to foster community connection and well-being. Residents have access to a clubhouse, a landscaped courtyard, a fully equipped exercise facility, a swimming pool, a jacuzzi, and a children’s playground. Complimentary Wi-Fi is also available throughout all common areas.
|
“The opening of Homestead Landing Apartments marks a vital step forward in addressing the critical need for affordable housing in Utah. Partnering with CJM Development Group has been instrumental to our shared vision. We are deeply dedicated to community development and will continue to prioritize investments that provide hardworking families with safe, high-quality, and affordable places to live.” — Jeff Weiss, President, Hunt Capital Partners |
|
“We are incredibly proud to contribute to the creation of Homestead Landing alongside Hunt Capital Partners. Our team remains deeply committed to providing high-quality, affordable housing that gives families a secure and beautiful place to call home.” — Chris Miller, Founder and CEO, CJM Development Group |
A robust collaborative financing effort made this development possible. The project received $17.5 million in federal Low-Income Housing Tax Credits (LIHTC), $6.9 million in Utah state LIHTC, and $420,000 in 45L New Energy Efficient Home Credits, all facilitated through a Hunt Capital Partners multi-investor fund. Zions Bank provided crucial construction and permanent financing for the project. Furthermore, the Utah Department of Workforce Services delivered soft financing through the Olene Walker Housing Loan Fund.
CJM Development Group led the project as the primary developer and will continue to serve as the property management agent for the community. The expert development team also included Bonneville Builders, who acted as the general contractor, and Think Architecture, Inc., who served as the architect of record.
About Hunt Capital Partners
Hunt Capital Partners (HCP) is the tax credit syndication division of Hunt Companies, Inc. (Hunt). HCP specializes in the sponsorship of Federal and State Low-Income Housing, Historic, and Solar Tax Credit Investments funds. Since its inception in 2010, HCP has raised over $4.1 billion in tax credit equity in 49 proprietary and multi-investor funds, financing development in 48 states and territories. Founded in 1947, Hunt is a privately held company that invests in businesses focused in the real estate and infrastructure markets. The activities of Hunt’s affiliates and investors include investment management, asset management, property management, development, construction, consulting and advisory. For more information on HCP, please visit www.huntcapitalpartners.com, or for Hunt, please visit www.huntcompanies.com.
View source version on businesswire.com: https://www.businesswire.com/news/home/20260520380318/en/
Media gallery
