Flats at Capitol Hill

Word now on the Flats at Capitol Hill project – urban lofts being developed in vacant lot on the SE corner of 300 W and 500 N. The spaces will initially be marketed as apartments rather than condos.

Not sure if any of you have visited this part of town lately, but file it under the category of next hip place to live. Well, one of them. So let’s talk about it…

For starters, it’s north of North Temple. Plenty of downtowners follow the rule of “I don’t go past I-80,” and the same applies to North Temple for most of us unless we’re talking something cool near Capitol Hill or the Avenues. However, the warehouse’ey district in the northwest corridor has some great spots, cheaper relative prices, and lots of character to offer. With young people moving more and more towards this part of town, opportunities to get in on something new abound.

According to Devin Overly of Metaview Development, the company responsible for The Flats, financing for a development in the apartment market is a much easier deal right now compared to the condo market.

The Flats will be built as higher-end, “design driven” rental spaces, with the target market being young, design conscious professionals and couples. Ground should be broken by the end of this year or beginning of next, with availability beginning in the late summer or fall. Stay tuned.

Comments are closed.