OGDEN -- A proposed development agreement is being fine-tuned that may enable a Salt Lake City firm to purchase about six acres downtown from the Ogden Redevelopment Agency as part of the long-awaited Ogden River Project.
The RDA is expected to consider the agreement in the next few weeks for the sale of land to SouthRiver LLC, allowing the construction of 69 townhomes and retail space, Jonny Ballard, the city's community development manager, said Monday. The company hopes to begin construction in July, he added.
Negotiations are still under way regarding the sale price for the property, located east of Grant Avenue between 20th Street and Park Boulevard.
Officials with SouthRiver could not be reached for comment regarding its proposed purchase of the property.
However, SouthRiver has said in a proposal submitted to the city and obtained by the Standard-Examiner that it intends to make a private investment of $16 million to $20 million in the project.
Work on the development would be the first of its kind in the Ogden River Project, which has been on the drawing board since 2002.
The project area encompasses about 60 acres straddling the river from 18th to 20th streets and Washington Boulevard to Wall Avenue.
SouthRiver also would be the first firm required to comply with a new $50,000 master plan formulated by Pittsburgh-based Urban Design Associates.
The aim of the master plan is to offer an array of housing types and sizes to accommodate Ogden's population in the downtown area, according to a report from Urban Design Associates.