$40M Salt Lake City Mixed-Use Project Underway
- Sep 09, 2020
Construction has begun on 6th & Main, a $40 million, 170-unit, 283,936-square-foot mixed-use development in downtown Salt Lake City designed by MVE + Partners for developer Lowe Property Group. The eight-story asset will have 141,149 square feet of residential space and 10,100 square feet of commercial space and is slated to begin leasing in fall 2022.
Zwick Construction is the general contractor for the development at the gateway to Salt Lake City’s downtown. The mixed-use property is located within walking distance of public transportation and Salt Lake City’s shopping and nightlife area and minutes from Interstates 15 and 80.
The 170-unit residential community will have a mix of studio, one- and two-bedroom market-rate apartments for young professionals and small families. Amenities will include a street-level lounge, co-working space, fitness center, pool and spa and a parking garage. The two-level fitness center and rooftop clubroom will be situated at the corner of 600 South and Main Street to provide visual appeal from the street and also provide views of the downtown skyline and adjacent Grand America hotel.
MVE, which is also designing the interior spaces of 6th & Main, is planning a modern, urban design for the exterior featuring natural materials and exposed concrete expected to appeal to young professionals.
Ben Lowe of Lowe Property Group, a Salt Lake City-based family-owned real estate development and investment firm, said in a prepared statement the intersection of 600 South and Main Street will become one of the most desirable intersections in the city because of all the new developments and the addition of a new stop for the TRAX light rail system.
Salt Lake City Revitalization
MVE is also working with Lowe Property Group on several other mixed-use projects in Salt Lake City, including Post House Apartments, a $144 million, five-building development with 580 residential units. The 488,754-square-foot project began construction in June and is being developed in a partnership of Lowe Property Group, BCG Holdings and Q Factor. Bridge Investment Group is the primary capital partner for Post House.
In addition to Post House, MVE and Lowe Property Group are working on several other revitalizing projects in Salt Lake City including Sugar Alley, an eight-story, mixed-use community in the Sugar House District and Dixon Place, a boutique, 59-unit property slated for completion in 2021.
Ben Kolendar, director of the Salt Lake City Department of Economic Development, said in prepared remarks there is tremendous interest in downtown Sale Lake City as a hub for business, residential development and cultural attractions. He noted projects like 6th & Main will provide much-needed housing in the downtown and also serve as a gateway to the city and the downtown amenities.