Hunt Capital Partners Marks Grand Opening of Homestead Landing in Utah
Hunt Capital Partners and CJM Development Group have officially celebrated the grand opening of Homestead Landing Apartments, a newly developed affordable housing community in Price, Utah. The ribbon-cutting ceremony, held on April 22, marked a significant milestone for local housing efforts and highlighted a growing commitment to expanding access to quality, affordable living options for families across the region.
Homestead Landing Apartments introduces 168 newly constructed residential units designed specifically for households earning up to 60 percent of the Area Median Income (AMI). The development includes a mix of spacious two-bedroom and three-bedroom apartment homes aimed at supporting working families, individuals, and residents seeking affordable yet modern housing in Carbon County.
The project arrives at an important time for Utah communities that continue to experience rising housing costs and increasing demand for affordable rental options. By offering well-designed residences paired with extensive amenities, Homestead Landing seeks to provide residents with not only affordable housing, but also a high-quality living environment that supports long-term community stability and well-being.
Developed with a focus on comfort and functionality, each apartment home at Homestead Landing features modern interior finishes and practical living spaces intended to enhance everyday life. Residents benefit from central air conditioning, spacious walk-in closets, and fully equipped kitchens that include modern appliances such as refrigerators, microwaves, dishwashers, and ranges with ovens. Every unit also includes an in-unit washer and dryer, adding convenience and reducing the burden of additional utility expenses for residents.
Beyond the apartment interiors, the development emphasizes community engagement and lifestyle amenities. Homestead Landing offers a variety of shared spaces and recreational features designed to create a welcoming residential atmosphere. Residents have access to a clubhouse that can serve as a gathering space for events and activities, along with a landscaped courtyard that provides outdoor relaxation areas for families and neighbors.
The property also includes a fully equipped exercise facility, allowing residents to maintain active lifestyles without the need for external gym memberships. Recreational amenities such as a swimming pool and jacuzzi further contribute to the development’s focus on wellness and quality of life. For younger residents and families, a dedicated children’s playground creates a safe and enjoyable outdoor environment.
To support connectivity and convenience, complimentary Wi-Fi is available throughout all common areas within the community. These features reflect the broader vision behind the project — creating a modern, inclusive housing community where residents can thrive socially, physically, and economically.
The completion of Homestead Landing Apartments was made possible through a complex and collaborative financing structure involving both federal and state affordable housing programs. Hunt Capital Partners played a key role in facilitating the financing package that helped bring the development to life.
The project received approximately $17.5 million in federal Low-Income Housing Tax Credit (LIHTC) equity, one of the primary financing mechanisms used to support affordable housing developments across the United States. In addition, the project secured $6.9 million in Utah state LIHTC financing, further strengthening the project’s financial foundation.
Homestead Landing also benefited from approximately $420,000 in 45L New Energy Efficient Home Credits, which support the development of energy-efficient residential properties. These credits reflect the project’s emphasis on sustainability and operational efficiency, helping reduce long-term utility costs while promoting environmentally responsible construction practices.
All of these financing components were facilitated through a Hunt Capital Partners multi-investor fund structure, which brought together multiple funding sources to support the successful completion of the project.
Zions Bank served as a major financial partner by providing both construction financing and permanent financing for the development. The bank’s involvement was instrumental in ensuring the project moved smoothly from the construction phase through long-term operations.
Additional support came from the Utah Department of Workforce Services through the Olene Walker Housing Loan Fund, which delivered soft financing to help bridge funding gaps and support affordability objectives. The combination of public and private investment highlights the collaborative effort required to address affordable housing shortages in growing communities across Utah.
CJM Development Group led the development process as the primary developer for Homestead Landing Apartments and will continue its involvement as the property management company overseeing daily operations and resident services. The firm has emphasized its commitment to maintaining a safe, professionally managed, and resident-focused community.
The development team also included Bonneville Builders as the general contractor responsible for construction activities and project execution. Think Architecture, Inc. served as the architect of record, designing the community to balance functionality, aesthetics, and long-term sustainability.
Together, the development partners worked to create a project that not only addresses housing affordability challenges but also contributes positively to the broader Price, Utah community.
Affordable housing developments such as Homestead Landing are increasingly viewed as essential infrastructure investments that support economic growth, workforce stability, and community development. By providing affordable, high-quality housing options for working families and moderate-income households, projects like this help reduce housing insecurity while strengthening local economies.
Community leaders and project stakeholders noted during the grand opening celebration that Homestead Landing represents more than just a residential development. It reflects a long-term investment in the future of Price and surrounding communities by ensuring residents have access to stable housing opportunities in a modern and supportive environment.
As housing affordability continues to remain a major challenge across many parts of the United States, developments like Homestead Landing Apartments demonstrate how public-private partnerships, tax credit financing, and community-focused planning can work together to expand access to quality housing for families in need.
With its combination of affordability, modern amenities, and strong community partnerships, Homestead Landing Apartments is expected to play an important role in supporting residents and enhancing the local housing landscape in Price, Utah for years to come.
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