Salt Lake City's Alta Vue aims to provide housing to households earning around 60% of the area median income in the Poplar Grove neighborhood.
The 218-unit development was built in March 2025 by Alta Bay Capital, a private equity real estate firm in Salt Lake City founded in 2016 with a focus on affordable and workforce housing. Alta Vue is part of the Low-Income Housing Tax Credit program.
According to the development's website, the household income restrictions set forth by the U.S. Department of Housing and Urban Development include the following:
- One person must earn $51,540.
- Two people must earn $58,920.
- Three people must earn $66,300.
- Four people must earn $73,620.
- Five people must earn $79,560.
CoStar data shows the rent of a one-bedroom apartment at Alta Vue is $1,111, which is about 12.8% less than the market rent of $1,599. The entire Alta Vue building showcases modern architecture and features amenities that include a clubhouse with a full kitchen, a 24-hour fitness center, multiple coworking and lounge spaces and courtyards with shaded seating and recreation areas. The complex also includes an off-leash dog park and pet spa. The apartments contain in-unit laundry setups, stainless steel appliances, 9-foot ceilings and expansive windows.The project aims to strengthen Poplar Grove, which is Salt Lake City's second-largest neighborhood. It's a few miles southwest of downtown and isn't known for being very walkable. It does provide easy access for the local workforce as it's near various employers such as the University of Utah, as well as two major interstates.
"Alta Vue shows how thoughtful partnership can redefine what affordable housing looks like," April Pond, employee relations leader for Cornerstone Residential, the property management company for the complex, said in a statement.
For this reason, Alta Vue earned a CoStar Impact Award, as judged by a panel of regional industry experts.
About the project: Construction on the 144,738-square-foot building began in 2023.
What the judges said: "I chose the Alta Vue project since it provides a solution to a critical problem in our region — affordable housing," said Ajla Akšamija, a professor at the School of Architecture at the University of Utah. "The project provides 218 affordable housing units. Sustainable design strategies and occupants' well-being were considered as part of the design process for this development."
They made it happen: Jereme Thaxton, founder and CEO of Alta Bay Capital; Jamie Ney, director of operations for Alta Bay Capital; Chris Sherwood, COO of Alta Bay Capital; Rachel Grudzien, relationship manager at KeyBank; Josh Bahn, vice president with Goldman Sachs; Eric Jones, principal with JZW Architects; Greg Walker, co-founder of WOW Atelier; Roy Bartee, partner at Ridgemark; Maxine Pizarro, property manager with Cornerstone Residential and Claudia O’Grady, vice president with the Utah Housing Corp.
This article was updated on March 25 to correct the names of people listed under They made it happen.