Utah PaperBox Site Ready To Become Mixed-Use Development
- Jan 25, 2016
Salt Lake City—The city-owned downtown site located at 340 West 200 South, known as Utah PaperBox, is ready to become home to a new mixed-use residential project, according to The Salt Lake Tribune.
Talks with two exclusive developers are underway, as the Redevelopment Agency board approved the agreement, which gives the developers 90 days free of outside competition while negotiations for a purchase price are occurring. Both developers, ClearWater Homes and PEG Development, own property next to the two-acre site. The two companies partnered with VCBO Architecture to design the project.
The new mixed-use development will include 168 residential units, commercial and retail, as well as live-work-play uses. Salt Lake City purchased the downtown parcel in 2010. In addition, the developers plan for the proposed project to contain a park of at least 10,000 square feet, as well as a plaza that integrates with the properties located in the city’s core. The city’s agreement bars surface parking lots and encourages underground parking. The two five-story buildings proposed for the southeast and southwest corners will offer studio, one- and two-bedroom floorplans.
Rendering courtesy of ClearWater Homes