The Howick, a 150-unit affordable housing complex at 4101 S. Howick St. in Millcreek, has leased about 115 apartments since opening in February. Every one- and two-bedroom unit is spoken for, but three- and four-bedroom apartments remain available.

Todd Reeder, CEO of the Community Development Corporation of Utah (CDCU), told Building Salt Lake that the demand pattern surprised him.

"I thought the (one bedrooms) would be hardest (to lease) because they're close to market rate, but what's surprising is the three and four bedrooms are still lagging behind," Reeder said. He noted that four-bedroom units, priced at 60% of Area Median Income (AMI), run $2,000 a month.

The complex serves households earning between 30% and 60% of AMI. According to CDCU, that translates to annual incomes between $25,770 and $51,540 for an individual, or $36,810 and $73,620 for a family of four. Rents start at $1,300 for a one-bedroom.

The building includes 41 one-bedroom, 40 two-bedroom, 41 three-bedroom and 28 four-bedroom apartments. That means 73% of the units are two bedrooms or larger. Most recent Low-Income Housing Tax Credit (LIHTC) developments in the Salt Lake area have focused on studios and one-bedrooms, Building Salt Lake reported.

Eleven units are set aside for people transitioning out of homelessness, with case management provided by First Step House. CDCU community navigators also offer housing counseling to residents at risk of falling behind on rent.

The $61 million project drew roughly $30 million in federal and state tax credits and $30 million in private activity bonds, according to Building Salt Lake's earlier reporting. The Olene Walker Housing Trust Fund, Salt Lake County Housing Trust Fund and the Utah Department of Workforce Services contributed nearly $7 million combined. Millcreek waived building fees and streamlined permitting, according to CDCU.

The leasing snapshot comes as the broader Salt Lake City multifamily market shows mixed signals. A Q2 report from Northmarq found asking rents in the metro posted a 1.6% quarterly gain, the strongest since 2022. But Reeder told Building Salt Lake that even affordable projects in Salt Lake City are struggling to stay full amid an oversupply of new apartments.

Reeder said developers remain bullish on long-term demand, pointing to population growth along the Wasatch Front and the 2034 Olympics as reasons investors keep putting money into Utah.

The leasing data also lands amid a broader Millcreek conversation about housing supply. A 2024 city housing report projected Millcreek will face a shortage of 3,180 units by 2030, with the steepest gap at the lowest income levels. City Manager Mike Winder presented those findings to the Millcreek City Council on Aug. 10, as reported by the Millcreek Journal.

Next door to The Howick, CDCU's Morrissey, a 64-unit affordable senior apartment community, is under construction and expected to open in late 2026. Residents interested in The Howick's remaining larger units can contact property manager Karen Grenko at 385-317-6723.