Utah Community Builders frequently highlights businesses going above and beyond to make an impact in our community.
With a groundbreaking ceremony on May 13, the Utah-based Clark and Christine Ivory Foundation announced plans to partner with The Church of Jesus Christ of Latter-day Saints to create Ivory University House, which will provide over 500 units of housing for University of Utah students.
According to the Ivory Homes website, the project will include a four-building, 552-unit apartment community at the corner of Mario Capecchi Drive and South Campus Drive. The first building will be completed Summer 2023, and all net proceeds will be dedicated to students for scholarships, housing stipends and internships.
“Rather than making a one-time donation, we wanted to produce an ongoing gift for student support,” said Clark Ivory. “We are taking a $24 million investment and producing an annuity that will likely generate more than $1 billion in impact over 99 years.”
Banners at the ceremony echoed this sentiment, labeling the project “the gift that keeps on giving.”
The Ivory family thanked The Church of Jesus Christ of Latter-day Saints, who is leasing the property for 99 years to Ivory University House, for its support. The dorms will replace one of the church’s older chapels.
“This innovative new model will transform the university’s housing situation and help serve thousands of students,” said University President Taylor Randall. “Public-private partnerships are key to our future growth allowing us to provide expanded opportunities for Utah students.”
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