Downtown Update
Broadway Park Lofts, Moving Closer To Getting Back On Track
saltlakedigs.com
http://www.slcrda.com/meetingsmin/20...C.PBL_Loan.pdf
1. PROJECT SUMMARY
BPL South Tower LLC (BPL) closed on the acquisition of 51 residential units located in the
incomplete second phase of the Broadway Park Lofts on September 27, 2012. Currently, the
second phase’s superstructure, 89 underground parking spaces, trunk lines for fire suppression,
and elevator are installed and complete. BPL has a budget of $3,323,500 to complete
construction of the common areas and residential units. BPL will start with an initial capital
outlay of $1,500,000 to get the project sealed as quickly as possible. This will include pumping
and forming each unit’s concrete floors, completing the rooftop deck stair housings, installation
of the interior stair infrastructure, installation of all exterior and interior courtyard windows and
doors, and completing the drainage, damp proofing, and concrete related to the common
Once the building is sealed, BPL will begin finishing individual units. The units consist of 17
two-story live/work units that will sell for $95,000, ten 700 square foot two-bedroom units that
will sell at $176,000, two 580 square foot two-bedroom units that will sell for $150,000, ten 900
square foot two-bedroom units (with roof deck,) that will sell for $230,000, and twelve 1,200
square foot two-bedroom units (with roof deck) that will sell for $375,000-$525,000. The intent
is to complete 15-20 units by April 1, 2013, with the remainder being completed by the end of
2013. BPL has already accepted 14 reservations for the residential units. Each reservation
required a 3% refundable deposit.
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