NEW AFFORDABLE APARTMENT PROJECT IN SALT LAKE CITY
July 2, 2018 | By Bree Morris
SALT LAKE CITY, June 11, 2018 /PRNewswire/ — J. Fisher Companies, a Utah-based fully integrated real estate firm, gathered with Millcreek city officials and community partners to celebrate the groundbreaking of Moda Meadowbrook in Millcreek, Utah.
“The Moda Meadowbrook groundbreaking was an exciting event for our companies. We have spent a lot of time working with local city officials and national partners and consultants putting this project together. It has been a huge success so far and having representatives from all of these organizations attend the event was a tribute to what is to come.” –Owen Fisher, CEO, J.Fisher Companies.
This mixed-use, affordable apartment project will provide housing to Utah’s workforce that are earning at, or below, 60 percent of area median income (AMI). J. Fisher Co has acquired several properties with the intent to develop affordable apartments and improve neighborhoods in the Salt Lake Valley. Their hope is that these new developments will be the beginning of a solution for the housing crisis Utah is currently facing.
“As Utah’s economy and population continue to grow, the unintended side-effect is an increasing pressure on the housing market in general. This has caused many families to shoulder an outsized burden on the cost of safe, comfortable, and reliable housing. Our commitment is to continue to promote a diverse community where residents can live and work in their own neighborhoods, without being pushed to the margins.” –Jake Wood, Development Partner, JF Capital.
Moda Meadowbrook will be the ninth development under J. Fisher Companies’ multi-family “Moda” brand. Designed by Tuttle and Associates Architecture, Moda Meadowbrook will include one and two-bedroom options, smart home technology, in-unit laundry, and pet friendly living. Community amenities include a large clubhouse, fitness center, and bike maintenance facilities. Additionally, this 145-unit development is only a five-minute walk from the TRAX Meadowbrook station, which provides quick access to Salt Lake Valley’s employment, shopping and recreation.
JF Capital and Strategic Builders are subsidiaries of the J. Fisher Companies and have a proven track record of delivering high quality commercial real estate projects on time and on budget to their partnerships. Construction will take an estimated 21 months, with the first units scheduled for occupancy in Fall 2019.
With three other multi-family projects already under construction and an estimated eight project starts in 2018, J. Fisher Companies is projecting significant continued growth in the greater Salt Lake City market.