L59 Multifamily downtown apartments
108 apartments and 10 three-story townhomes in the Downtown Redevelopment Project Area. The RDA approved $350,000 in affordable housing fund assistance as amended January 19, 2021, with onsite management required.
- Where it stands
- Approved
- Type
- Development agreement
- Location
- 150 South 100 East
- Homes
- 118
- Applicant
- L59 Multifamily, LLC
Every hearing and vote
January 5, 2021 · City Council
Workshop: agency assistance to L59 Multifamily, 150 South 100 East (Resolution 21-03 RDA)
Discussed
Developer Skyler Jenks proposes 108 apartments and 10 three-story townhomes in the Downtown Redevelopment Project Area, with 177 parking stalls plus 17 visitor stalls. He requested $500,000; the Economic Development Committee recommended $350,000 from the RDA Affordable Housing Fund, payable on completion. Demolition is estimated at $435,164, and the developer would buy 0.5 acres of Garff Gardens from the city for $185,000, including a $10,000 nonrefundable deposit. Jenks said the townhomes would be market-rate rentals, construction could take about 18 months and first-year cash-on-cash return is about 7.51 percent. Council Member Jensen stressed onsite management; Simmonds asked that trees north of the sidewalk and along the park driveway be preserved, and Jenks said the north side would be preserved and the south side removed. Economic Development Director Kirk Jensen said units were cut from 120 to 108, a parking structure was removed and staff added a third story without Planning Commission review. Action was set for January 19.
- Units: 108 apartments, 10 townhomes
January 19, 2021 · City Council
Agency assistance to L59 Multifamily, 150 South 100 East (Resolution 21-03 RDA)
Approved with conditions · 5-0
The RDA approved, as amended, assistance for 108 apartments and 10 townhomes recommended at $350,000 from the Affordable Housing Fund, payable on completion; the developer requested $500,000. Demolition is estimated at $435,164 and the developer would buy 0.5 acres of Garff Gardens for $185,000. Gail Yost asked why at least 10 percent of the apartments were not required to be affordable and why landlords are not penalized for blight; Gary Saxton of the Logan Downtown Association emailed support. Council Member Simmonds pressed for onsite management and noted the townhomes must be finished before the apartments' occupancy permit. Council Member Jensen moved to make onsite management a project-specific stipulation. Amy Anderson and López raised the need for a formal definition of affordable housing.
- Units: 108 apartments, 10 townhomes
- Condition: onsite management