Located at 3400 S. River Road, the Fountain Heights Apartmentswill offer below-market rates for 50 of the 60 units to familiesearning 60% or less of the area media income. Units will range fromtwo- to four-bedroom units and 885 to 1,352 sf.
Construction is already under way and is expected to becompleted in June 2002.
"Quality rental housing is increasingly in demand insouthwestern Utah, particularly with increased tourism to thearea's national parks and steady growth in the local economy," saysTobias Washington, vice president and regional community lendingmanager at Washington Mutual. "The advantage of the FountainHeights complex is its flexibility to provide quality housing for afull spectrum of renters -- from individuals paying market-raterents to low-income renters needing more affordable rates."
Continue Reading for Free
Register and gain access to:
- Breaking commercial real estate news and analysis, on-site and via our newsletters and custom alerts
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical coverage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
*May exclude premium content
Already have an account?
Sign In Now
© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
