Utah 14 July 7, 2019

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State Supplement sponsored by:

UTAH STATE EDITION

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July 7 2019

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Vol. IV • No. 14

“The Nation’s Best Read Construction Newspaper… Founded in 1957.” Your Utah Connection – Debbie Hansen – 1-702-239-0348 – dhansen@cegltd.com

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Demolition Marks Start of $110M ‘The Exchange’ in Salt Lake By Cindy Riley CEG CORRESPONDENT

Construction crews in Utah are working on a $110 million project that will be among downtown Salt Lake City’s most architecturally significant buildings. Totaling 2.3 acres, The Exchange will feature a mix of housing, retail, coworking and incubator space. “The need for housing that’s affordable to middle- and lowincome people has never been higher,” said Developer Ivan Carroll of Giv Development Group. “The Exchange seeks to provide both market-rate and

affordable, high quality downtown living to help alleviate some of those needs.” Plans call for more than 400 apartments. According to a May 2018 Kem C. Gardner Policy Institute report, since 2011 the state of Utah has had a shortfall in housing units that’s been persistent and will likely continue. The study also showed that apartment vacancy in Salt Lake County has dropped from 6.1 percent in 2005 to 2.6 percent in 2017. The need for new housing, particularly in the downtown area near transit, work opportunities, shopping and recreational activities, has been prevalent for

Tyler Hollon, Wadman Corporation photo

Three structures were demolished to facilitate the new construction.

Tyler Hollon, Wadman Corporation photo

Concrete pumps and cranes are among the equipment being used during construction. Main materials will include concrete, steel, ACM and GFRC.

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many years. The vision was to create space where individuals from all incomes and backgrounds can coexist. “We believe a community can benefit from multiple viewpoints and is stronger, and more fun to live in, when people from different walks of life can call it home. If

that community can provide housing, recreation and workspaces for people in different stages of life, even better.” Carroll said the goal was to create something that fits into the surrounding location, while also adding something new. “This includes artwork and design elements that will be

viewed from the outside, as well as common amenities residents will be able to enjoy. A lot of time was spent ensuring that the pedestrian interaction with the buildings would create a place where people want to spend time. “Due to the location of these buildings and their proximity to see EXCAVATION page 6

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