CDC to develop 44-unit condo, retail project near downtown SLC
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Rattle, Barbara
Community Development Corp. of Utah, an organization whose goal is to help low-income families achieve home ownership, plans to break ground this fall for Ninth Street Place, a condominium and commercial project at 153 W. 900 S. on property owned by the Redevelopment Agency of Salt Lake City.
The project will consist of 44 units in a five-story "L" shape facing both 900 South and Jefferson Street with parking behind, said Darin Brush, executive director. In addition, three live/work units will be built on a small parcel separated from the main building by an alleyway.
Most of the units will be what we call one-plus units, with one bedroom and a den that can be used as a second bedroom or an office," he said. "We expect these to be highly popular, through our market research. Those will be about 800 square feet. In addition to that we'll have a handful of straight one bedrooms and close to another 10 two-bedroom units."
Roughly 1,000 square feet of space on the corner of 900 South and Jefferson Street will be dedicated solely to commercial use, while the main building will be home to five work/live spaces with approximately 500 square feet on the ground level, suitable for retail use, and 1,000 square feet of living space above. Top level penthouse units will have 12-foot ceilings and substantial views.
The project has been designed by GSBS Architects and will be built by Okland Construction, which should complete the project in an approximately 12-month time frame, Brush said. A broker will be engaged to market the condos.
"Given our market analysis we don't want to be in the luxury condo market," Brush said. "It doesn't fit there anyway and there are plenty of those coming up in the next couple of years. We have great confidence that the market will absorb these units. This is our big project right now."
Copyright Enterprise Business Newspaper Inc. May 19, 2008