The Boston developers, who have not been discouraged by the reviving pandemic, continue to build a new luxury residential building on State Street, which is to be the tallest skyscraper in Salt Lake City.
The Astra Tower will stand 450 feet at its highest point and will bring approximately 372 luxury apartments spread over 40 floors to the growing city center, according to financial backers from the Boston-based Kensington Investment Company, which began work on a short founding ceremony on Wednesday.
The new tower is expected to launch at 200 S. State Street – the former site of Carl’s Jr.’s fast food restaurant. and the adjacent surface car park – will be completed by October 2024.
The tower will be built to some of the world’s highest environmental standards and will be joined by at least half a dozen new high-rise office and residential buildings being built or currently under construction in the Utah capital, amid an unprecedented rise in construction along the Wasatch Front. .
“We took our dreams and today we are turning it into reality, “said Ed Lewis, CEO of a private company. Astra Tower has faced “several obstacles” over the past three years – even ridicule that the project was “stupid or a little crazy,” Lewis said, “and maybe they’re right.
“Anyway, Utah is our home.” We’re not going anywhere, “Lewis told several dozen people who had gathered at the Gallivan Center in advance. “Salt Lake City is fast becoming a world-class city, and I believe the tower will be the future of residential housing in Utah. ”
The Astra Tower was designed by HKS, an Dallas-based architectural firm with offices in Salt Lake City, reminiscent of The Kensington, a residential tower built by the same developer in Boston in 2013.
The new high-rise luxury studio, one-and two-bedroom apartments in Salt Lake City, which are likely to reach the highest urban strata on monthly rents, will be completed by two floors of exclusive penthouses, serviced by a dedicated high-speed elevator.
Other top facilities in the Astra Tower will be spread over three separate floors, according to plans approved by the town hall, and will include a rooftop pool, clubhouse, park, sky lounge and terrace with panoramic views.
Salt Lake City Council member Ana Valdemoros, along with other city and state officials, praised the company’s decision to build the US Green Building Council-certified approach to sustainability, which will reduce the project’s energy consumption, among other things. and carbon footprint.
Valdemoros said the skyscraper project was a symbol of a new and “inevitable” direction of urban planning in the city center, towards denser housing and vertical construction. Astra, she said, enforced a long-term vision of “a city center on foot, with taller buildings and livelier streets full of new inhabitants.”
And at its planned height, Astra is to surpass the existing Wells Fargo Center (422 feet) and the LDS Church Office Building (420 feet) as the tallest building in the city. It joins the newly built 95 State Street Tower in City Creek, a 395-foot office building at 100 South and State State, west of downtown Harmon’s Grocery.
Just two blocks away, the new 700-room Hyatt Regency Salt Lake City – the new Salt Lake District Convention Center at West Temple and 200 South – reached its full height of 375 feet in November and is scheduled to open in the fall of 2022.
The illustrations suggest that the newest skyscraper in Salt Lake City – known in recent years as Kensington Tower until Wednesday’s official renaming to Astra Tower – will have an elegant rectangular exterior covered with glass and a two-story hall overlooking State Street.
“Salt Lake City is on the rise: economically, socially, statistically,” said Dee Brewer, who leads the Downtown Alliance in the Salt Lake Chamber. He called the Astra Tower a “remarkable sign of this rise.”
Boosters for Utah said the Astra Tower would strengthen the city’s ability to attract new professionals, companies and investors to Utah.
“It tells them we’ve arrived as a city,” said Stephanie Frohman, senior vice president, Economic Development Corporation of Utah. “We have not only the lifestyle, cultural and recreational opportunities that their talent is looking for, but also housing.”
The Astra is also the sixth new skyscraper it is now looking for in downtown Salt Lake City in three years – and one of four that towers along the three-block section of State Street.
Other State Street projects include the 24-story luxury residential tower called Liberty Sky, at 151 S. State Street; 95 State at City Creek, built by City Creek Reserve, a development branch of The Church of Jesus Christ of Latter-day Saints; and a two-tower residential project at 255 S. State from Chicago-based developer Brinshore with financial support from the City Reconstruction Agency and other government agencies.
When completed, Astra Tower will also mark a milestone in luxury living at heights for tenants and will be part of the wider apartment construction boom.
Astra’s residential units are likely to compete with nearby Liberty Sky with 272 luxury apartments and amenities completed by Boyer Co. this year. and Cowboy Partners, both based in Utah. Studio apartments in Liberty Sky are currently offered for $ 1,499 – $ 2,199 per month.
Texas developer Hines is also working on a new 31-story residential skyscraper a few blocks away at 150 S. Main, on the site of the historic Utah Theater, which is being demolished. Called the Main Street Apartments and supported by the Houston-based Hines along with the city’s RDA, this 392-foot tower is to include 400 new apartments with 40 more affordable, 355 at market prices and five penthouses, along with sky, other luxury features and an adjoining pocket house. park.
The New York-based development firm, The Domain Cos., Also announced plans to own a 342-apartment residential skyscraper in 370 S. West Temple, two blocks east of Pioneer Park, and proposed it to have 26 floors.