Fleet Block Public-Private Partnership Development Feasibility Analysis

Salt Lake City, UT | 2018

The City of Salt Lake wanted to catalyze the creation of an “equitable innovation district” in a gritty but fast-changing industrial area called the Granary District outside of downtown. The area is home to artists, artisans, and makers and has experienced rapid gentrification in the last 10 years.

Cascadia Partners teamed with Urban Design Associates (UDA) to evaluate the feasibility of development concepts for a 7.5 acre block owned by the city. The goal was creating a mixed-use development that could support makers, affordable housing, and create ladders of opportunity for the diverse and low income populations. The large site is in a prime location one block from a major light rail transit station serving three lines and is less than one mile from downtown.

Cascadia Partners performed detailed financial (pro forma) analysis on several development types and conducted nearly a dozen interviews with developers, designers, potential tech tenants and funding partners for the project. We also made recommendations on new zoning standards, capital investments, partnership structures and development incentives that would help the project succeed.