Millcreek, Utah — November 22, 2024 — The Utah Housing Preservation Fund (UHPF) proudly announces a significant milestone in its mission to preserve affordable housing across Utah: the preservation of 1,000 housing units, benefiting more than 2,000 residents statewide. This achievement underscores UHPF’s commitment to ensuring long-term housing affordability and fostering vibrant communities, an effort made possible through innovative partnerships and the support of forward-thinking investors like WCF Insurance.
The milestone was celebrated at a ribbon-cutting event at The Monaco Apartments in Millcreek, Utah, the Fund’s latest acquisition. This 247-unit property exemplifies UHPF’s dedication to preserving housing affordability and enhancing community well-being. Residents at The Monaco benefit from their partnership with Project Access, a nonprofit organization that offers programs such as health workshops, childcare, tutoring, and community-building events, creating a strong sense of belonging and support.
“This event was a powerful reminder of the impact we can have together,” said Lukas Ridd, Fund Manager at UHPF. “Preserving 1,000 units represents a major step in our efforts to improve lives, ensure stability, and strengthen neighborhoods across Utah. We are deeply grateful to our investors and partners, like WCF Insurance, whose commitment to community-building has been vital in making this milestone a reality.”
WCF Insurance, an early investor in the Utah Housing Preservation Fund, has played a pivotal role in advancing the Fund’s mission. At the event, CEO and President of WCF Insurance, Matt Lyon, highlighted their shared commitment to strengthening communities, stating, “Investing in our local communities is more than just a financial commitment–it’s a commitment to the people who live and work here. Partnering with the Utah Housing Preservation Fund allows us to create lasting change and foster stability for thousands of families.”
The celebration included remarks from local leaders, guided tours of The Monaco Apartments, and highlights of Project Access’s impactful programs. The event not only showcased the preserved housing but also the partnerships that transform these properties into thriving, connected communities.
For banks and institutional investors, the Utah Housing Preservation Fund represents a unique opportunity to align financial goals with meaningful social impact. By investing in UHPF, institutions like WCF Insurance demonstrate how targeted, mission-aligned investments can drive economic and community growth while delivering measurable results for stakeholders.
