Construction begins on The Exchange mixed-use scheme in Utah

WCN Editorial Team 19 Mar 2019 NORTH AMERICA BUILDINGS

Real estate investment and development firm The Domain Companies has announced the financing and commencement of construction on The Exchange’s first building, an $89m, mixed-use development in Salt Lake City, Utah.

The project, which will feature 286 apartments and more than 14,000ft² of retail space, is a joint venture with Salt Lake City-based Giv Development.

With construction beginning on the first phase, the second phase is expected to be taken up shortly, which will include 126 unique, efficient ‘Smart Unit’ residences and a second iteration of The Shop co-working space, the first of which is currently housed on the third and fourth floors of the Contemporary Arts Center in New Orleans.

The Shop workspace will provide access to programming aimed at stimulating local entrepreneurship, small business development, as well as community engagement.

The Domain Companies co-CEO Matt Schwartz said: “We’re honored to officially become a part of the Salt Lake City community.

“The commencement of our first project in the city is a tremendous milestone for us, and we look forward to making a positive impact for years to come.

“We’re thrilled to take this first step, and grateful to our project partners and the Salt Lake City community for welcoming us.”

The first two floors will have more than 14,000ft² of food/beverage- and service-related retailers, anchored by an international food hall and marketplace in partnership with International Rescue Committee’s Spice Kitchen business incubator programme.

The announcement marks the beginning of The Exchange’s focus on public art, residential and community amenities, and sustainable design, natural materials, and engaging local artists and artisans.

SLC Mayor Jackie Biskupski said: “This project demonstrates that through partnership we can have it all, and that [Salt Lake City] is a city for everyone.

“Once complete, approximately half of the units will be affordable; refugees will have space to share their business and culture as part of the Spice Kitchen incubator program; incubators will foster local business growth; and the building will introduce a state-of-the-art product to the market.”

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Image: Rendering of The Exchange mixed-use scheme in Salt Lake City. Photo: Courtesy of The Domain Companies.

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