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Old Posted Feb 3, 2018, 1:44 PM
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delts145 delts145 is offline
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Salt Lake City & MSA/CSA Rundown

Winter Metroscape - Sundance Resort - Southern Metro

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By B. Crockett...

Snowbasin - Northern Metro

Developers propose 24-story apartment tower on State Street in downtown Salt Lake City
The Salt Lake Tribune - By Mike Gorrell

“We’re excited to see residential on State Street, which is a fairly new addition to the ecosystem,” said Christian Harrison, the Downtown Community Council chairman.
“It is a good sign that State Street is turning a corner. We do hope it spurs more development farther south along State Street.”

“Offices are daytime [operations] and don’t create vibrancy or activity in the evenings. In downtown, they create dead zones,” Planning Director Norris added. “Apartments put eyes on public spaces basically all day long. Those residents tend to go out at night and walk around the neighborhood. It enlivens downtown.”

(Artist's rendition courtesy of Cowboy Properties) Cowboy Properties and Boyer Co. are looking to build a 24-story apartment building on the east side of State Street between the Federal Building on 100 South and the Maverik headquarters building on 200 South. The $90 million project is being praised for its prospects of bringing more residents to downtown Salt Lake City.

Convinced that downtown living is increasingly desirable, real-estate developers Cowboy Properties and Boyer Co. want to build a 24-story apartment building on State Street between 100 and 200 South...

...The $90 million high-rise would include roughly 300 apartment units and a rooftop swimming pool. A five-story parking terrace would be built on its east side, hidden from street views by surrounding buildings.

Although rent levels would vary, Cowboy Properties President and CEO Dan Lofgren said most would cost near the “top of the market in today’s market. We’ll have studios to very large two bedrooms, units that go for under $1,000 [a month] while some of the largest will be several thousand.”...

...“As the downtown residential market has evolved, and as we massaged what we thought was the best option, this residential tower emerged,” Lofgren said. “Downtown Salt Lake City has become an amenity-rich environment. It’s become a great neighborhood. The pieces that were missing 10 years ago — not that it was bad then — are now filled in.“

First and foremost: the Harmons City Creek market at 135 E. 100 South. “The grocery store makes it a neighborhood,” Lofgren said. “For many household configurations, the option of living downtown has become the preferred option. These are households hoping to live without a car, households looking for the convenience of being close to work, households energized by all the activities downtown, households attracted to this notion of a high-rise and the views and lifestyle it offers.”

At the projected rent levels, he sees these apartments appealing to people working at high-tech and financial-services companies, law firms and banks. Retirees also are likely renters, Lofgren added, “drawn especially by the arts downtown — the symphony, the ballet, Eccles Theater. That’s a pretty full basket of offerings.”...

...Planning Director Norris said the shift from office tower to residential high-rise is “certainly consistent with our master plan policies, which try to increase the number of people living downtown.”


Last edited by delts145; Feb 13, 2018 at 3:12 PM.
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