Developer Secures Funding for TOC Project in Utah

Boulder Ventures Development has secured funding for Upper West, a 207-unit transit-oriented apartment complex in West Jordan. The total project cost is $52 million.

A JLL Capital Markets team led by managing director Mike White in JLL’s Denver office represented the borrower in securing preferred equity to fund the development. The non-recourse financing was secured through a private capital fund.

Situated on 2.43 acres at 3283 West Jordan, the development will be part of the Jordan Valley master development, which includes 1,396 multi-housing units, 83,200 square feet of office space and nearly 35,000 square feet of retail and restaurant space. The property site is adjacent to the Jordan Valley Station TRAX stop and about 13 miles south of downtown Salt Lake City.