Apartment complex scheduled to be built in SLC 'opportunity zone'

One of the underutilized areas in Salt Lake City’s central business district has been named as the site of a mixed-use urban in-fill housing complex. Utah homebuilder CW Urban will construct a six-story apartment building, replacing a 0.34-acre surface parking lot at 218 S. 200 E. in downtown Salt Lake City. Dubbed “The Birdie,” the site is located in one of Salt Lake City’s qualified "opportunity zones."

The building will feature 61 residential units over a one-story podium with condominium-level finishes including quartz countertops, black stainless-steel appliances, gas ranges, 10-foot to 12-foot ceilings with a mix of traditional floor plans and oversized penthouse units. The 4,220-square-foot roof-top plaza will feature a tree canopy, gazebos and fire pits. Transportation-centered amenities include a bus stop outside the front doors, long-term conditioned bicycle storage, an indoor bike wash station and 2,300 square feet of ground-floor space for commercial use.

The Birdie will incorporate City Lyft, a three-story mechanical parking garage system that will maximize space by stacking and organizing vehicles vertically and horizontally in assigned stalls. Due to the site’s tight constraints, the parking system allows cars to be taken off the street while making the best use of a small amount of space.

CW Urban will take advantage of tax incentives with the federal qualified opportunity zone program to build the complex. “We were deep into the due diligence process on this project when the QOZ maps were released,” said Darlene Carter, division president of CW Urban. “Our team was nimble to be able to follow the rules and regulations associated with the QOZ and close on this project with QOZ funds to build a ‘community within community.’ The opportunity zone program, established under the 2017 Tax Cuts and Jobs Act, provides special incentives for investors to spur economic development and job creation while substantially improving distressed communities.

Construction is anticipated to commence by July and be completed in the fall of 2020.

Argosy Real Estate Partners of Denver will partner with CW Urban to fund the project. Based in Centerville, CW Urban is an urban real estate developer specializing in the construction of urban in-fill townhomes, condos and apartments.