Press Room
Town homes to be built on 25th St.
Ogden RDA approves $1.9 million loan for 60 units on long-vacant lot
By CHERYL BUCHTA
Standard-Examiner staff
OGDEN -- New town homes will soon be going up on a long-vacant lot on Ogden’s most talked about street.
The Redevelopment Agency unanimously approved a $1.9 million loan to Proterra, a Utah-based development firm, to build 60 town homes and 10,400 square feet of retail space in the 100 block of historic 25th Street.
Proterra President Charles Akerlow said despite the weak economy, lenders are enthusiastic about putting housing back into downtowns.
"We think adding residents . . . will take you to the next step."
The $10-million project replaces the proposed Botticelli Square project that did not pan out.
Named Union Square, the mixed-use development will occupy approximately 3.4 acres with frontage on both 25th Street and Wall Avenue. Much of that land has been undeveloped for about 30 to 40 years.
The town homes, which will be available in two- and three-bedroom units will sell for between $130,000 and $160,000.
The first phase of the project is scheduled to begin in November and to be completed by spring 2002.
Akerlow said his firm specializes in in-fill projects such as the one proposed. Past projects include Salt Lake City’s Wyndham Hotel, the Brickyard and American Plaza. The company is presently involved in building town homes near University of Utah and in Draper, redeveloping a brown field in Woods Cross, and a neighborhood project in Farmington that includes town homes, single-family housing, equestrian lots and commercial sites.
"The older I get, the more important it gets to me that our cities thrive," Akerlow said.
Executive Vice President Gerard Tully said the group walked 25th Street before jumping into the project and had only positive vibes from the street and its shop owners.
"The only place anyone wanted to be was on 25th Street -- except for one funny guy with cut-outs in his windows -- all seemed to be happy," he said. "We’re not going to let one person scare us off and we don’t think the public will be either."
Tully was referring to signs posted in the windows of the vacant Helena Hotel and the El Borracho by owner Bruce Edwards. Edwards, who has an ongoing feud with the city, agreed to take down the signs.
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