All 99 income-restricted units at Park City's EngineHouse Apartments are now leased, roughly five months after the building opened and at more than double the developer's projected pace.

Rory Murphy of J. Fisher Companies said the final lease was signed shortly after July 4. The developer averaged 16 to 17 leases per month on the income-restricted units, compared with the six to eight per month the company's internal financial projections had forecast.

Only six of the building's 123 total units remain available. Those are market-rate rentals; 18 of the 24 market-rate places are already under lease.

What the city put in

The Park City Council approved a 99-year ground lease at $1 per year for the city-owned parcel at 1875 Homestake Road at its July 13, 2023, meeting. Council members also waived up to $2 million in building permit and impact fees for the project at the same meeting. The city had earlier approved a $740,250 soil remediation contract for the site at its June 22, 2023, meeting.

Who lives there

Tenants include restaurant workers, government employees, teachers, and service-industry staff, Murphy said. Income-restricted units are capped at households earning 60% of area median income. Advertised rents range from $1,781 for a one-bedroom to $2,452 for a three-bedroom, with 12-month leases.

Murphy, a veteran Park City developer involved in projects including Empire Pass and Silver Star, said the demand reflects a deep shortage. The Park City Community Foundation reports the median single-family home in Park City sells for $3.95 million as of mid-2026, and approximately 11,000 workers commute into the city from outside its limits.

What comes next

The leasing pace arrives as the city navigates talks over income-restricted projects at Clark Ranch and in Bonanza Park. City officials are also preparing a review of various tracts of municipal land for housing potential, according to a July 10 Park Record report, though no date for that review has been confirmed.

Residents interested in the six remaining market-rate units at 1875 Homestake Road can contact J. Fisher Companies directly.