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Salt Lake City bids $4M to buy back blighted State Street housing project

Salt Lake City bid $4 million at a Tuesday foreclosure auction to buy back an acre of property at 255 S. State St. — once envisioned as a cultured blend of affordable housing, shops and cafes, and instead marked by vulgar graffiti, wind-blown waste and naked, decaying steel.

The sale to the city’s Redevelopment Agency isn’t final, but RDA boss Danny Walz said Tuesday that the proposed acquisition “has the potential to be a very good victory for the city.”

It’s the second time the city has purchased what was once branded as the “Plaza at State Street.