SALT LAKE CITY, UT – Downtown SLC Partners LLC, a joint venture between New York- and New Orleans-based The Domain Companies and SLC-based Giv Development, has been awarded the 4th South TOD RFP by Salt Lake City (to be named “The Exchange”). The mixed-use development will feature a diverse mix of housing anchored by a food hall, retail, and a Salt Lake City location for Domain’s “Shop” co-working platform.
“The Domain Companies believes that successful development engages entire communities,” said Matt Schwartz, principal of The Domain Companies. “We’re excited to become a part of the Salt Lake community, where a dynamic, thriving entrepreneurial ecosystem continues to support diverse economic growth. The Exchange is the first of many developments that Domain plans to pursue in Salt Lake, and we look forward to making a positive impact on the city for years to come.”
The Exchange will feature a balanced residential community leveraging creative planning, density, and innovative design to create over 400 mixed-income apartments, including unique micro-units. Approximately 50% of the apartments in The Exchange will be affordable to households ranging from 40% to 80% of AMI. The market rate units will be positioned at the top of the SLC market. The ground floor will offer more than 20,000sf of street-front retail, anchored by an international food hall and marketplace in partnership with the International Rescue Committee’s Spice Kitchen business incubator program. Pedestrian level art and valuable community amenities within a public plaza will also be included.
“This exciting project will help us increase quality, affordable housing and grow local businesses,” said SLC Mayor Jackie Biskupski. “A strong and vibrant Salt Lake City absolutely depends on diverse and truly affordable housing opportunities, and we will continue to lead out and support ways to make that happen.”
The Exchange will also include “The Shop at Salt Lake City,” Domain’s innovative co-working and business accelerator platform. The 30,000sf space will offer amenities and programming aimed at stimulating entrepreneurship, small business development, and community engagement.
The Exchange will offer an energy-efficient, entrepreneurial, exceptionally-designed development capable of supporting a wide range of residents and businesses. The project covers 2.24 acres directly along the TRAX light rail system line, and serves as a cornerstone of the ongoing development along 400 South and SLC’s Civic Campus.
“The site’s location as an endcap to Salt Lake’s iconic, multi-block civic square brought a unique responsibility to the design,” said Chris Parker, executive director at Giv Development. “We hoped to create a place that lived up to that, one where people from all incomes and backgrounds could enjoy living, working, and being in.”
“The Exchange is a community of opportunity,” said Schwartz. “It moves beyond traditional housing and workspaces, fostering a rich environment that inspires the exchange of ideas, encourages creativity and innovation, and stimulates economic growth across a wide variety of incomes and cultures.”
Groundbreaking is anticipated to occur in the fall of 2018 with completion expected in late 2020. KTGY will serve as architect for The Exchange and Wadman Construction as general contractor.
About The Domain Companies
Founded in 2004, The Domain Companies is based in New Orleans and New York and specializes in the development and management of unique, mixed-use properties in core urban locations. Domain creates high-quality properties that stand apart through innovative design and exceptional management, enhancing the communities in which they build. Domain’s projects include the new construction and preservation of affordable, mixed-income, and luxury housing; the acquisition and repositioning of distressed housing; historic restoration; brownfield redevelopment; seniors and special needs housing; and hospitality, retail, and commercial development. www.thedomaincos.com
About Giv Development
Giv Development is based in Salt Lake City and focuses on mixed-use, catalytic developments in urban corridors. Giv boasts significant experience across a broad range of real estate classes, creating sustainable, lasting, innovative structures that reside well in their place. Giv’s projects serve as a testing ground for the company in new and emerging community design and building techniques. The company believes in creating community benefit and serves as the primary funding sources for its sister non-profit, Giv Communities. www.givdevelopment.com