Arroyo Crossing is a 41-acre Community Land Trust subdivision just south of Moab in non-metro Grand County, Utah. The Moab area is a popular outdoor tourism destination and is experiencing a severe affordable housing crisis, which constrains its local economy. The undeveloped site was donated to the nonprofit Moab Area Community Land Trust by a generous private donor and the Land Trust received approval for the eventual development of 300 affordable housing units and three “community buildings” (non-residential buildings with neighborhood-serving uses such as daycare). The overall unit mix will include single-family homes, duplexes, townhomes, cottages, and apartment buildings, with both rental and ownership opportunities.
CDFA’s New Markets Tax Credit financing was used to construct the subdivision infrastructure: streets, sidewalks, drainage improvements, and utilities. With infrastructure completed, developers lease available parcels from a Land Trust affiliate, build the housing units, then either sell or lease them at rates affordable to local households with incomes between 30% and 120% of the County’s median income. The Land Trust model ensures that housing will remain affordable in perpetuity.
