Silos North - Salt Lake City, UT

Silos North is a historic redevelopment of an iconic cereal mill, dating back to the 1930s. The project is located in the Granary District of Salt Lake City, UT, a historically industrial and undercapitalized neighborhood, which has experienced rapid transformation in recent years. Plans for the project include transforming the existing structure into retail and event space, executing ground leases for both a 180-unit LIHTC building and a hotel development, the development of a .3-acre park, a food and beverage pavilion, and a parking garage to serve residents and commercial visitors.

• Total Project Cost: $34.3mm

• Catalyst Equity Investment: $25.5mm

• Impact Thesis:

  • Execute lease with non-profit organization to anchor the commercial space with a business incubator that supports underserved refugee and minority-owned food service businesses

  • Ground lease parcel to LIHTC developer to build affordable housing units serving residents earning less than 60% AMI

  • Creation of publicly accessible park within a mixed-income, mixed-use neighborhood will become a community gathering place and will foster interaction between community members of differing socio-economic status