In The News

 

Library condos soon ready for new owners

Deseret News (Salt Lake City), Jul 12, 2004
by Wendy Leonard Deseret Morning News


With six weeks left of construction, the condominiums at Library Square are taking shape. Thirteen of the 29 units are already reserved, and the remaining units are expected to sell fast.

In celebration of National Homeownership Month, Salt Lake City officials, representatives from the Community Development Corp. of Utah, HUD and Fannie Mae, developers, architects and the interested public gathered recently at the condo site, 226 E. 500 South, to introduce the project and take a tour through two partly finished units.

"This helps to put people next to the library, people who are students, people who work downtown and people who just want to be downtown and move out of the suburbs," said CDC executive director Bruce Quint.

The $3.5 million project began one year ago as a revitalization plan for downtown housing. It is the first condominium project built from the ground up by the nonprofit organization. The project received a $2.26 million low-interest loan from Salt Lake City's Redevelopment Agency and a $250,000 grant from the city for construction and financing.

"We knew when we designed the open space at Library Square that the combination and the synergies created between the main library, the gardens, the fountains, the green space, the new "Leonardo" -- all of that would stimulate more housing on the adjacent blocks," said Salt Lake City Mayor Rocky Anderson. "We see it all over the country -- when you build spaces like this, great public places, the housing then follows."

### CDC ###