Rendering of The Exchange, to be built in Salt Lake City.
New Orleans-based Domain Companies, developer of the South Market District, is expanding to Utah with a $110 million mixed-use development in downtown Salt Lake City, dubbed The Exchange.
The project will feature a diverse mix of housing anchored by a food hall, retail. The Exchange will also feature the next location for The Shop, the co-working platform they launched in New Orleans.
Located at 320 E. 400 S. and 338 E. 400 S., the city-owned 2.2-acre site will replace three under-used retail and commercial buildings with nine stories of residential, retail and co-working spaces. The parcels include the old five-story Barnes Bank building and the two-story Salt Lake Roasting Co., and a 25,000-square-foot surface parking lot.
Domain Companies partnered with Salt Lake City-based developer Giv Development on the project. KTGY Architecture + Planning is the architect, and Wadman Construction will serve as general contractor.
The Exchange will include over 400 mixed-income apartments, 20,000 square feet of street-front retail, 361 parking spaces, 30,000 square feet of office, and an energy-efficient, transit-oriented design. Approximately 50% of residences will be affordable to households ranging from 40%-80% of the area median income.
“The Domain Companies believes that successful development engages entire communities,” said Matt Schwartz, principal of The Domain Companies, in a written statement. “We’re excited to become a part of the Salt Lake community, where a dynamic, thriving entrepreneurial ecosystem continues to support diverse economic growth.”
Groundbreaking is anticipated to occur in the fall of 2018 with completion expected in late 2020.