SALT Development has completed 4th West Apartments, a 493-unit luxury community in downtown Salt Lake City. Greystar manages the $100 million development designed by Architecture Belgique Inc.
Located at 255 N. 400 W., in the West Capitol Hill neighborhood, the community features 73 studio units, 256 one-bedroom/one-bathroom units and 164 two-bedroom/two-bathroom units. All units feature 1G, NEST controls, gas ranges, stainless appliances, washers and dryers, built-in closets, large decks and Anderson windows. With rents starting at $1,374, Greystar has secured one of the highest prospect capture rates in the state, according to Thomas Vegh, managing partner of SALT Development. The property is adjacent to two light rail systems, one block from the Vivint NBA Arena and has easy access to Interstate 15 and Highway 89.
“SALT Development saw the opportunity to provide a true luxury product for an underserved market in one of the fastest-growing cities in the country,” said Vegh in prepared remarks. “We have exceeded our own expectations at 4th West Apartments with rents above our projections.”
The project’s seven-acre lot was formerly home to the Diggity Dog Resort, a parking lot and several storage facilities.
The resort-style onsite amenities include a one-acre rooftop lounge, a 3,500-square-foot fitness center, business center, sports club, bike shop and storage, and dog park. The lounge features a barrel-roofed clubhouse, zero-edge swimming pool, two heated spas, sundeck with cabanas, large kitchen/bar and rentable event space. The health club includes a 1,600-square-foot yoga and spin room and full-size sport court. The sports club has a TruGolf premium commercial golf simulator, putting green, 16-screen multiplex LED video wall, billiards, shuffle board and darts. The dog park features two dog wash stations.
Images courtesy of 4th West Apartments