Developers began Tuesday to convert an old mid-block industrial site in downtown Salt Lake City into a project known as Paper Box Lofts, which will have three residential high rises, retail spaces, a visually striking open plaza and a unique automated parking system.
Officials with Utah-based ClearWater Homes and PEG Development broke ground on the 1.99-acre property at about 340 West 200 South, just south of the Utah Jazz’s Vivint Smart Home Arena. When done, the project will include 195 apartments.
Under an agreement with the city’s Redevelopment Agency, which has helped subsidize the project, developers will keep 36 apartments affordable to residents making 60 percent of the area median income.