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No Comments [ Add Comment ]Alaska company moves ahead on East Gate
By Mitch ShawLAYTON -
- Developers in the Layton East Gate Business Park have spent nearly $7 million on 66 acres of land in the first phase of the project.
JL Ventures LLC, of Anchorage, Alaska, announced Friday it has acquired the 66-acre parcel of land from Wasatch Integrated Waste Management District for $6.6 million, with an option to purchase an additional 25 acres.
"We're very excited to bring this development to fruition," said Leonard Hyde, JL Properties principal, in a news release. "We believe both Utah and Layton City will benefit greatly from the project, and it demonstrates the confidence we have in the area's future."
The newly acquired property runs adjacent to the recently constructed East Gate of Hill Air Force Base and will be the cornerstone of the East Gate Business Park.
"This is a huge step in the overall development of the East Gate project," said Ben Hart, city economic development specialist. "It's a commitment by the developer to begin with the project."
The project, which is aimed at bringing "family-sustaining" jobs to Davis County, will eventually encompass 650 total acres.
County officials are hopeful the park will bring between 2,000 and 4,000 new jobs to Davis County.
The development agreement between JL Properties and Layton contains requirements the city has for infrastructure, including a "loop road" needed to go around the perimeter of the property.
Officials said the loop road is integral to the project and will extend from Fairfield Road to 1700 East.
The loop road will be built in phases, and because the site has been designated as an economic development area, future development activity will share in the cost of the overall project.
"Once Layton completes Phase I of the loop road, we will begin construction on the first building," said JL representative Eric Roman. "We've completed initial site planning and are now working on the architectural design of a 75,000- to 100,000-square-foot building."
Construction on the first phase of the development is expected to begin in the fall.
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