Park City's EngineHouse Apartments Two-Thirds Leased Ahead of Schedule

Rory Murphy, part of the development partnership behind Park City's EngineHouse Apartments, said 67 of the project's 99 income-restricted units had been leased as of late March, putting occupancy significantly ahead of the timeline the team originally projected.

Murphy, representing J. Fisher Companies in the joint venture with Park City, said marketing for the apartments at 1875 Homestake Road began at the end of 2025. The original projection called for eight to 10 leases per month. "Leasing is way ahead of schedule. The response is overwhelming," he said.

The 123-unit building sits on a city-owned parcel of just under two acres near Kearns Boulevard, mixing 99 income-restricted apartments with 24 rented at market rates. Income-restricted units are available to households earning within 60% of Summit County's area median income. Each unit comes with an underground parking spot in a building positioned near bus lines, restaurants, and retail along the Kearns Boulevard corridor.

Murphy described the tenant mix forming at EngineHouse as a cross-section of the local workforce: ski workers, young families, hospital employees, and restaurant staffers. "Mixed-income developments are considered the healthiest socioeconomic neighborhoods that you have," he said. "You want people all over the spectrum living in the same place and getting along."

The city structured the deal as a 99-year ground lease with J. Fisher Companies at $1 per year, keeping the land in municipal ownership while enabling a large-scale private build. Subletting is prohibited across all units. City Hall has pointed to EngineHouse as a template, and two additional housing projects are currently in various stages of discussion.

Park City has argued for years that deed-restricted housing reduces the grueling reverse commutes that define daily life for many service workers and helps diversify a market dominated by resort-driven real estate. EngineHouse's leasing pace now gives the City Council and planners something more useful than projections: a real-world data point showing that income-restricted inventory in the right location draws immediate and significant demand.