SALT LAKE CITY — Chelsea Investment Corporation joined city leaders, housing partners, and community members Monday to celebrate the grand opening of Latitude, a newly completed 105-unit affordable housing community in Salt Lake City’s Fairpark neighborhood.
Located at 950 West 200 South, Latitude expands access to high quality, affordable rental housing for individuals and families. Following a groundbreaking in April 2025, the six-story development was completed ahead of schedule, received its certificate of occupancy in October 2026, and is now open and leasing to residents.
“Affordable housing is essential to our city. Through the Salt Lake City Community Reinvestment Agency, we’re investing in projects like Latitude Apartments to help meet our community’s housing needs,” said Council Chair Alejandro “Ale” Puy. “I’m grateful to Chelsea Investment Corporation and all the project partners for their work to expand housing options and help more people call Salt Lake City home.”
The community includes studio, one-, two-, and three-bedroom apartments for low-income individuals and families. Sixteen of the units are reserved for households earning at or below 30% of Area Median Income (AMI), helping address the housing needs of residents facing the most severe affordability constraints.
“When we broke ground in April 2025, we knew how important this project would be for Salt Lake City,” said Charles Schmid, CEO of Chelsea Investment Corporation. “Now, we’re excited to see Latitude completed and ready to welcome individuals and families looking for a quality, affordable place to call home. This project wouldn’t have been possible without the support of Salt Lake City, our public and private partners, and the many people who worked hard to bring it across the finish line. We’re grateful to everyone who helped make this happen.”
The opening comes as Utah continues to face growing demand for affordable housing. According to the National Low Income Housing Coalition’s 2026 Utah Housing Profile, the state faces a shortage of approximately 44,000 affordable and available rental homes for extremely low-income households. Developments like Latitude help address that need by providing income restricted housing in established neighborhoods near employment, transportation, and other services.
Just 1.3 miles from downtown Salt Lake City and approximately half a mile from the Jackson/Euclid TRAX station, Latitude provides residents with convenient access to public transportation, employment opportunities, and nearby amenities. The completed development features a resident lounge, fitness center, outdoor courtyard, laundry facilities, indoor bicycle storage, and garage parking with EV charging.
“I’ve been a wife, a mother, a grandmother and an aunt, always taking care of other people. Now I get to take care of me, and I feel like I can move forward,” said Lynda Davison, a resident of Latitude Apartments. “Everybody here comes from a different background, and every story is different. You learn from each other and you learn to be compassionate.”
Latitude was made possible through collaboration among Chelsea Investment Corporation, Salt Lake City, Utah Housing Corporation, Citi Community Capital, The Richman Group, and other public and private partners.
The grand opening also provided an opportunity to recognize distinguished state and local housing leaders in attendance, including Steve Waldrip, Governor Cox’s Senior Advisor for Housing Strategy and Innovation, and Dennis Rutledge with Salt Lake City’s Housing Stability Division. Chelsea Investment Corporation extended its gratitude to the dedicated team of partners and professionals, including Bonneville Builders, JZW Architects, and numerous others whose expertise and collaboration helped transform the vision for the community into reality.
Monday’s celebration featured remarks from Chelsea Investment Corporation and representatives from The Richman Group, Citi Community Capital, Utah Housing Corporation, a resident at Latitude and Salt Lake City Council Chair Alejandro Puy. The ceremony concluded with an official ribbon cutting led by the Salt Lake Chamber Ambassadors, followed by a reception and guided tours of the property.
Latitude Apartments is now open and leasing. For more information, visit latitudeslc.com
About Chelsea Investment Corporation
Chelsea Investment Corporation is an affordable housing developer focused on creating and preserving high-quality rental homes for individuals and families. With more than $3 billion invested, over 150 affordable housing communities developed, and more than 15,000 apartments built, Chelsea has helped change tens of thousands of lives. The company specializes in affordable housing development, financing, construction, and long-term ownership, working with public and private partners to expand housing opportunities in communities across the country. Learn more at chelseainvestco.com
