Salt Lake County Invests in Downtown Magna Apartment Complex
Salt Lake County broke ground Friday on a new 288-unit Apartment Complex near historic Main Street in Magna. Local officials hope it will entice young families to live in the area.
This past year the township of Magna added more than 500 new jobs locally, and a new 2.3 million square foot industrial complex in nearby West Valley City is expected to create nearly 3,000 jobs. Trish Hull is President of the Magna Chamber of Commerce.
“We are kind of the hidden gem and we like it that way, but we do want more business out here,” Hull says. “We want to have people come. We want to have them enjoy the things that we are providing for the community.
Salt Lake County Township Executive Patrick Leary says The Oquirrh Hills Apartments project was not an easy feat for local developers.
“There is a perception that Magna is not on the rise,” Leary says. “So it sounds like the some of the banks weren’t’ too interested, but we’re proving them wrong and we’ll see future investment from those other banks.”
Bank of Utah eventually stepped up to finance the project. Rent ranges from $785 to $1085 per month. Salt Lake County is reimbursing the developer for a portion of the construction and landscaping costs. The complex is expected to be complete in about two years.