Ivory Innovations and Call to Action Foundation announce plan to create approximately 850 affordable homes in the next three years
SALT LAKE CITY—Ivory Innovations and Call to Action Foundation have joined forces to create the “Housing for Impact” partnership, a new and unique partnership focused on addressing the need for affordable housing in Utah. The partnership hopes to positively impact those they house as well as pave the way for future affordable housing developments in Utah.
To kick-off this new partnership, local leaders including Gov. Spencer Cox gathered today to announce seven upcoming affordable housing projects and a goal to build 850 affordable housing units over the next three years. In addition to Salt Lake City, the following communities have been identified as locations for upcoming developments: Lehi, South Jordan, Francis, Park City, Draper, and Magna.
“There’s an acute need for affordable housing in Utah right now and too many Utah families can’t afford an average home. Together, we can change this narrative and build a brighter future for all Utahns,” Gov. Spencer Cox said. “I appreciate the Housing for Impact Partnership’s efforts and hope they inspire others to join in finding innovative solutions for addressing our affordable housing needs.”
According to a recent publication released by the Kem C. Gardner Policy Institute at the University of Utah, homeownership has become more difficult for many of Utah’s 333,000 renter households due to higher home prices and a doubling of mortgage rates. To address this growing need, Ivory Innovations and Call to Action Foundation, two private operating foundations, have partnered to develop and increase the availability of affordable housing units across the State of Utah.
Over the next three years, Ivory Innovations and the Call to Action Foundation plans to build seven new housing developments in Utah resulting in the creation of approximately 850 affordable homes. These townhomes, condos, and apartments will bring stability and security to Utah households. These affordable units will serve both new residents drawn to the area by our state’s burgeoning job market, but also long-time Utahns who have increasingly found themselves priced out of the communities to which they have contributed so much over the years.
Research shows that fewer than half of Utah’s families can afford the average home. “That is a statistic we’re working hard to change through this exciting new partnership with Ivory Innovations,” said Crystal Maggelet, Founder of Call to Action Foundation.
“Our partnership with Call to Action amplifies our shared commitment to creating communities where every family has a place to call home. We’re building a foundation for a more inclusive and vibrant Utah,” added Clark Ivory, CEO of Ivory Homes.
Ivory Innovations was founded in 2017 by Clark Ivory, CEO of Ivory Homes. It is an applied academic institution at the University of Utah’s David Eccles School of Business dedicated to catalyzing high-impact innovations in housing affordability. Ivory Innovations seeks to promote the most compelling ideas in housing affordability by working across sectors, providing monetary awards for groundbreaking innovations, and leveraging its network and resources.
Call to Action Foundation
The Call to Action Foundation is a private operating foundation dedicated to increasing access to education, affordable housing, and food security for underserved communities throughout the West and Midwest. In 2023, we will devote more than $22 million to creating and preserving safe, affordable housing for families in our region.