A local investment firm that has developed several projects on Salt Lake City’s west side has come forward with its latest plan to add more low-income units in the Fairpark neighborhood.
The investors are proposing building a 162-unit project in a six-story, single-use building at 144 N. 1000 W., according to a new Transit Station Area proposal released this week.
If it receives city approval for the proposal, Alta Bay Capital would replace a row of single-family houses with the new project, which would include a mix of studios, one- and two-bedroom units.
After using parking reduction bonuses for being in close proximity to transit and including low-income housing, the investors are proposing including 46 parking stalls for the project.
County records show Alta Bay started assembling the properties for the project last January.
Projects Details
- Studio: 57
- One-bedroom: 80
- Two-bedroom: 25
- Total: 162 units
Studio units would average 300 square feet, though some would be as small as 282 square feet. One-bedroom units would average 610 square feet, and two-bedroom units would average 940 square feet.
According to the renderings, no ground-floor retail or other public uses are proposed as part of the project.
Based on the city’s existing TSA scoring process, the development team has indicated it has enough points to move forward through the fast-track approval process. That means the project could break ground this year if financing, labor and materials are lined up.
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