South Jordan officials announced Tuesday that the recently approved Housing Transit Reinvestment Zone (HTRZ) will provide the necessary funding to create affordable housing options within the new 'Downtown Daybreak' urban development. The zone, which sits along the Mountain View Corridor, aims to drive economic growth and transit use in the southwest portion of Salt Lake County.
Funding for Affordable Housing
The HTRZ was approved by a special committee composed of elected and appointed officials from various local and state government entities. This committee was led by the Governor’s Office of Economic Opportunity. The project area is strategically positioned between two existing TRAX stations and is centered around a third proposed stop, as well as the still-to-be-completed Mountain View Corridor.
Development Density Limits
To make high-density housing financially viable under current market conditions, the development will rely on money invested by the developer pooled with increased property tax increments. These funds will be generated from the additional development and shared among several taxing entities, including the city, county, school district, and utility districts.
The City of South Jordan clarified that this mechanism does not constitute a tax increase for existing residents. The previously mentioned taxing entities will continue to receive the same amount of revenue they generated prior to the creation of the HTRZ. Instead, the project area only receives the taxes generated by the increase in value resulting from the new, higher-valued development. Once the HTRZ project timeline is complete, all tax revenues generated within the project area will be distributed to the taxing entities.
Transit and Traffic Planning
The development plans include specific density regulations for the urban center. While certain portions of the 'Downtown Daybreak' area are planned for approximately 65 units per acre, the overall gross density for the entire town village designation is capped at 50 units per acre.
To balance this increase in urban density, the City noted that other areas within the broader Daybreak community must remain less dense. The gross density for the entirety of the Daybreak community cannot exceed five units per acre.
Master Development Agreement
As part of the Urban Center and Bees Stadium Project, South Jordan is working with the Utah Department of Transportation (UDOT) and the Utah Transit Authority (UTA) to manage traffic and transit needs. The City is coordinating closely with LHM and UTA to add a new TRAX station specifically to support the ballpark.
Plans for transit during major events at the stadium are expected to mirror the methods used for large-scale events in Salt Lake City. To prepare for the impact on public transportation, South Jordan officials are sharing expected ridership numbers with the UTA so the transit authority can plan for anticipated demand.
Infrastructure and Economic Goals
The new urban development is part of a broader Master Development Agreement with the City that anticipated both commercial and residential growth. This agreement forms the framework for how Daybreak will expand alongside the new stadium project.
In addition to addressing traffic flow, the City's complete plan aims to allow for multiple modes of transportation through the corridor.
Projected Impact
The primary objectives for the HTRZ remain the creation of affordable housing in what the City describes as the fastest-growing quadrant of Salt Lake County, the encouragement of public transit use, and the generation of economic development opportunities.
