January 20, 2023

Argosy Real Estate Partners Begins Construction of theYARD, an Opportunity Zone Project in Salt Lake City, UT

We are pleased to announce that Argosy Real Estate Partners, in partnership with CW Urban, has started construction of theYARD, a nine-acre Opportunity Zone site in Salt Lake City, UT. The project will be, a 157-unit single-family build-to-rent townhome community, located in the emerging Poplar Grove submarket of Salt Lake City, approximately 1.5 miles west of downtown along the Jordan River. The site is also located immediately south of a large 100-acre redevelopment site currently owned by Rocky Mountain Power, which is slated to transform the North Temple corridor over the next ten years.

The project will feature a mix of two- and three-bedroom, three-story townhomes with attached garages.  Units will offer condo-quality finishes including quartz countertops and stainless-steel appliances consistent with that of for-sale townhomes. Community amenities will include a clubhouse with leasing office and fitness center, an outdoor swimming pool, a landscaped greenway bisecting the site, and a riverfront amenity area. The project is well-differentiated from both under construction and existing multifamily communities in the submarket, which typically feature small unit sizes within four- to six-story buildings. The partnership will pursue a LEED certification for the project.

The project will be developed in partnership with CW Urban, an experienced developer with in-house design and construction teams focused on high-end single-family, multifamily, and townhome development along the Wasatch Front. This is Argosy’s fourth investment in partnership with CW Urban.