LAYTON -- As far as city officials are concerned, everything about the Kays Crossing project looks good. Now the developer simply has a few more tasks to complete before groundbreaking on the five-story building can begin this fall.
On Thursday, Layton's Redevelopment Agency adopted a development agreement between Layton and Kays Crossing, LLC., an arm of MV Properties. The agreement captures everything from terms and conditions for the development to regulating how the development will look and feel aesthetically.
The RDA also reviewed the property design with Jared Nielson of MV Properties.
"This will set a high standard for future developments that will come into the area," said Ben Hart, Layton's economic development specialist. "We wanted to make sure that the product is well-designed and the next developers who come into Old Downtown will have a standard to live up to."
Kays Crossing will total 156,000 square feet covering 2.85 acres. The building will sit between the two parking lots for the FrontRunner station on Main Street, on land currently owned by three property owners. The building will feature 2,400 square feet of retail, 3,000 square feet of office space on the ground level and four levels of multifamily apartments.
The agreement calls for a completion date of Dec. 31, 2013. However, Nielson hopes the building will be completed before that date. He said the project should take about 15 months to complete, and if the groundbreaking is this fall, then the building could be done by the beginning of 2013.
With the agreement complete, Hart said that Nielson can finish the construction drawings and do everything else needed to start the project.
Nielson met with Utah Transit Authority officials on Friday in an effort to finalize the land swap deal with UTA and another property owner. He said he also has to finalize a permit with Davis County for a slight stream alteration to Kays Creek as well as finish engineering plans and turn them into the city for a permit.
"In reality, we're extremely close (to breaking ground)," Nielson said.
Along with UTA, the other two landowners -- Gibbs Smith and Larry Hill -- have worked well together in order to make sure the project has come together.
"I applaud the landowners for sitting down and negotiating the sale of the land because that's prime property," said Mayor Steve Curtis.
The four floors of apartments will have 156 units, which means hundreds of new residents in Old Downtown. With the building being within walking distance of UTA's FrontRunner, the residents will experience a new type of city lifestyle.
"The transient-oriented development is going to be a huge asset for the city," Curtis said. "It's going to be a key addition to a lot of hard work that has gone into the planning of the historic downtown Layton area."