JF Capital breaks ground on new development, Moda Granary Place

SALT LAKE CITY, Feb. 1, 2017 /PRNewswire/ — Construction is set to begin on the latest in a series of JF Capital’s Moda developments. The current project will be defined as Moda Granary Place. The five-story mid-rise building will include 134 apartment spaces, and will be located at 258 W. 700 S. Salt Lake City, in the area known as the Granary District.

The development helps deliver on part of JF Capital’s mission to provide affordable workforce housing to Salt Lake City residents. Floor plans will include both one-bedroom and two-bedroom options, and will feature state-of-the-art design and architecture, Dwelo smart home wireless technology, washers and dryers in each unit, custom cabinets and quartz countertops. Additional community amenities include access to an outdoor social deck, bike maintenance facilities and a pet-washing room.

“We are excited to be a part of a great project that will contribute to our vision of growing downtown Salt Lake City’s workforce housing.”-Owen Fisher, Managing Partner

“Salt Lake City’s growing population and healthy economy has spurred a housing development boom which has been good for the overall economy of the city. However, as a result, many of the city’s hard working citizens have been priced out of the rental market and struggle to find suitable, affordable housing. Moda Granary Place aims to alleviate this problem by providing a state-of-the-art apartment building offered only to working professionals and workforce citizens making 60% or less of the Area Median Income.” -Adam Paul, Partner

Strategic Builders, a J. Fisher Company, will serve as the contractor on the project. Construction will take an estimated 14 months, with the first units scheduled for occupancy in March, 2018.

MORE ABOUT JF CAPITAL

JF Capital is a local private equity firm affiliated with the J. Fisher Companies brand, which is dedicated to its vision of provided a unique ‘full vertical integration model’ in real estate. JF Capital’s success is demonstrated by the over $800 million in projects it has capitalized or structured to date. To learn more about JF Capital, visit jfcapital.com.