FOR IMMEDIATE RELEASE
July 28, 2017
Melissa Jensen, Housing & Neighborhood Development
801-535-6035 - email@example.com
Matthew Rojas, Mayor’s Office
385-881-3393 | firstname.lastname@example.org
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Developers named for Salt Lake City’s Barnes Bank 400 South Project with plans for a split of affordable and market-rate housing, retail, and co-working space
Mayor Jackie Biskupski is pleased to announce Downtown SLC Partners LLC as the winner of the request for proposal (RFP) for the Barnes Bank 400 South Project in downtown Salt Lake City. Downtown SLC Partners is a joint venture between locally based Giv Development and Domain Companies, a New York City-based firm pursuing its first project in Utah.
Together the companies presented an energy-efficient, entrepreneurial, affordable, and beautifully designed development for affordable and market-rate housing, retail, and co-working space. The building will be known as “The Exchange.”
The Exchange will cover 2.24 acres on the 300 East block of 400 South. The property formerly held Barnes Bank and Salt Lake Roasting Company.
The site is a cornerstone of the ongoing development along 400 South and the Civic Campus, anchored by the Public Safety Building and the City Library. It sits directly across from the TRAX line.
Groundbreaking is anticipated in fall of 2018.
“This exciting project will help us increase quality, affordable housing and grow local businesses,” said Mayor 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.”
In addition to the critical additions of affordability and investment in small local business, Salt Lake City is pleased to welcome Domain Companies to the development market, adding expertise in both affordability and design.
“The Domain Companies believes that successful development engages entire communities. We’re excited to become a part of the Salt Lake City community, where a dynamic and thriving entrepreneurial ecosystem continues to support diverse economic growth,” said Matthew Schwartz, Principal with Domain Companies. “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 proposal highlights the use of art and green space and commitment to energy efficiency while creating a design that compliments existing structures.
“The Exchange as endcap to Salt Lake's iconic, multi-block civic square brought a unique responsibility to the design,” said Chris Parker, Giv Development Executive Director. “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 will feature a balanced residential community leveraging creative planning, density, and innovative design to generate 196 high-quality affordable apartments combined with 216 market-rate apartments. The ground floor will feature more than 20,000 square feet 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.
Other notable features of the development will include “The Shop at Salt Lake City”, Domain’s innovative co-working and business accelerator platform. The 30,000-square foot space will offer amenities and programming aimed at stimulating entrepreneurship, small business development, and community engagement. A significant component of pedestrian level art and amenities within a public plaza will also be provided.
“Affordability is a key component of this development, and The Exchange serves as a great example of the goals Mayor Biskupski outlined in Growing SLC: A Five Year Housing Plan,” said Melissa Jensen, Director of Housing & Neighborhood Development.
“The Exchange represents what is possible when you combine partnership and creativity. Not only is The Exchange providing a wide range of affordability, it also invests in local business. This joint venture represents where the city is going and our commitment to partnerships that create vibrant and affordable neighborhoods.”