SALT Development Breaks Ground on $275M Multifamily, Office Project in Salt Lake City
SALT LAKE CITY — SALT Development, a privately held commercial real estate developer, has broken ground on Hardware Village, a $275 million, four-building mixed-use development situated on 400 West between North Temple Street and 200 North in Salt Lake City.
Situated one block from the Vivint Smart Home Arena, home of the Utah Jazz NBA franchise, the project will include two seven-story multifamily buildings known as Hardware West and Hardware East, a 10-story office building known as Hardware Station and a four-story office building known as Hardware Crossings.
“From the beginning we have envisioned creating a experience where residents are excited to work and live,” says Thomas Vegh, managing partner of Salt Lake City-based SALT Development. “Hardware District is the perfect complement to 4th West Apartments and the Salt Lake Hardware Building as it provides a sense of community with first-class living and working amenities.”
The 265-unit Hardware West will feature 48 studios, 134 one-bedroom units and 83 two-bedroom units ranging from 450 to 1,800 square feet. The ground floor will feature 37 two-story brownstone townhomes averaging 1,400 square feet. Completion of the Hardware West building is scheduled for February 2018.
The 144-unit Hardware East building will feature 32 one-bedroom units and 107 two-bedroom units ranging from 500 to 1,800 square feet. All units will have 10-foot ceilings, and the ground floor will feature five three-bedroom, two-story brownstone townhomes averaging 1,500 square feet. Completion of the Hardware East building is scheduled for August 2018.
Residential units will feature stainless steel appliances, granite countertops, kitchen cabinets with soft-close doors and under-cabinet lighting, tiled showers and tubs, nine- or 10-foot ceiling heights, open floor plans, Google Fiber connectivity, NEST thermostats, full-size washers and dryers and walk-in closets with built-in shelving.
Townhomes will feature polished concrete floors, circular steel stairs and kitchen cabinets with white quartz countertops.
Community amenities will include video walls, pool tables, an infinity-edge pool, Jacuzzi spa, outdoor fireplaces and gas torches, locker rooms and outdoor showers, hot sauna and massage room, library lounge with bar and two-story water fall, two-story fitness center with a yoga room, fire and water fountains in the courtyard, and a parcel pending package delivery system.
The 200,000-square-foot Hardware Station will span seven floors of Class A office space above a three-story, 800-stall parking podium. Hardware Station will connect to the historic Salt Lake Hardware Building via a pedestrian plaza that will also connect to the North Temple Viaduct serving both TRAX and Frontrunner light rail lines.
Hardware Crossings will be a heavy timber and glass commercial building with 60,000 square feet of creative office over a parking podium. It is named “Hardware Crossings” for its immediate connection to both TRAX and Frontrunner light rail lines and a UTA (Utah Transit Authority) bus stop.
No timeline was given for the delivery of Hardware Station or Hardware Crossings.
The project team includes architects WRNS Studio and Arch Nexus. Greystar will manage the multifamily properties upon completion.
SALT Development has over $400 million of development currently underway, comprising Class A office and luxury residential neighborhoods. SALT’s investment partners include university trust funds, REITs and high-net-worth individuals.
— John Nelson