Mercy Housing Utah and Fannie Mae have announced the completion and opening of Francis Peak View, a 120-unit apartment development in Kaysville.
The apartments, originally constructed by a private owner in 1975, were purchased by Mercy Housing, which completed $3.5 million in renovation work.
Fannie Mae, through its tax credit syndicator partner Red Capital Group, invested $3.4 million in the property.
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Only families earning 60 percent or less of the area median income are eligible to rent at Francis Peak. Low-income tenants receive rental subsidies from USDA Rural Development that pay the difference between 30 percent of their individual household income and the project's restricted rents of $368 to $660.