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Article: Midvale project aims to provide affordable housing
- Article from:
- Deseret News (Salt Lake City)
- Article date:
- October 5, 2009
- Author:
CopyrightCopyright 2009 Deseret News (Salt Lake City). Provided by ProQuest LLC. (Hide copyright information)
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MIDVALE -- Rising from the ashes of a historic smelter is a
federally subsidized housing project that city leaders hope will be
an example for property management citywide.
The $26 million Florentine Villas project is being funded by a
hodgepodge of sources, including the Utah Housing Corp., Wells
Fargo, Zions Bank and Prudential Real Estate. About $5 million of
the total cost will be funded by the sale of tax credits, and
another $1.35 million will come from an interest-free, federal
stimulus-package loan, according to Wasatch Advantage Group
financial officer Jeff Nielson.
The 214-unit, nine-building project will be great for young
married people and professionals just starting out in ...