New apartment complex will be built at Ogden's Riverbend

Wednesday , December 06, 2017 - 5:00 AM

MITCH SHAW, Standard-Examiner Staff

OGDEN — A new apartment complex is scheduled to be built at Ogden’s Riverbend development next year. 

The development group known as 20th Street Investors LLC, which is headed by PEG Development, has submitted a proposal to the city that involves the construction of a small apartment complex and mixed-use building at 271 Park Blvd.

According to city planning commission documents, the plan calls for an approximately 6,500-square-foot complex that would include commercial space and eight individual apartments. Each apartment would include a one-car garage.

The building would be built on the south side of Park Boulevard, just west of Grant Avenue and between existing housing structures at The View on 20th apartments.

RELATED: Ogden City hopes new downtown apartments will help push neighborhood’s economy

The city’s planning department has recommended approval of the project and it will be discussed at an Ogden City Planning Commission meeting set for 5 p.m. Dec. 6 at the Ogden Municipal Building, 2549 Washington Blvd.

The proposal will ultimately come before the city council for final approval.

Ogden Community and Economic Development Director Tom Christopulos said if the project is approved, construction would start in the spring of 2018.

The project marks additional progress on the 60-acre, city-incentivized development at the northern edge of the city’s central business district.

Seeds for the development were planted in 2002, when the city council voted to establish the Ogden River Redevelopment Project Area.

RELATED: New riverside Ogden apartments give 'downtown living' experience

The designation allowed developers to receive tax increment financing — an action where the city redevelopment agency uses tax revenue increases generated by new development to help finance projects and pay for property acquisitions and maintenance in the area.

The RDA adopted a 15-year tax increment budget when the project area was established, based on a projected private investment total of $150 million. The tax increment collection period is set to expire in 2027.

The once vacant and blighted 60-acre patch of land now includes apartments, town houses, restaurants and retail shops. Since the RDA was established, retail businesses like Gear:30, Kneaders and Slackwater have opened, along with housing complexes like The Meadows at Riverbend and The View on 20th apartments.

A restoration of the Ogden River, which cost more than $6 million, was also completed in the area.

You can reach reporter Mitch Shaw at mishaw@standard.net. Follow him on Twitter at @mitchshaw23 or like him on Facebook at Facebook.com/MitchShaw.StandardExaminer.

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