SLC.gov

Six planned projects would bring new housing, local businesses, nonprofit services, and renewed commercial spaces to Salt Lake City neighborhoods. 

Oct. 14, 2026

The Salt Lake City Community Reinvestment Agency (CRA) Board of Directors approved more than $7 million in loans Tuesday to support six commercial and mixed-use projects representing nearly $54 million in planned development. The awards mark the first funding round of the CRA’s Commercial Development Loan Program (CDLP). 

The $7,030,501 in approved financing marks the first round of funding through the CRA’s CDLP, established to help close financing gaps for commercial and mixed-use projects that support neighborhood investment and long-term economic development. 

The six projects span the Central Business District, State Street, and 9-Line project areas, supporting new housing, neighborhood-serving businesses, nonprofit services and the rehabilitation of historic commercial buildings. 

“These are the kinds of investments that can make a meaningful difference in our neighborhoods,“ said Taylee Foulger, CRA project coordinator. “By helping close financing gaps, we’re supporting local businesses, creating opportunities for housing and bringing new life to commercial spaces. Each of these projects represents an opportunity to strengthen the places where Salt Lakers live, work and connect.” 

New development and housing

• 1345 S. Jefferson | $2 million 

Abstract Development Group will construct a $43.4 million mixed-use project featuring 122 residential units and approximately 4,000 square feet of ground-floor commercial and retail space. The development, located in the State Street Project Area, will bring new housing and ground-floor commercial activity to the neighborhood. 

• Edison Mixed-Use Townhomes | $1,806,501

This project will develop five townhomes and approximately 1,250 square feet of commercial space at 956 S. Edison St. The $2.3 million project will include two three-bedroom and three two-bedroom homes, with at least two units to be sold to income-qualified buyers earning up to 120% of area median income. 

Neighborhood services and local businesses

• Archie Archuleta Square | $2 millionCrossroads Urban Center will develop a $5.3 million neighborhood-serving commercial project at 1410 Indiana Ave. in the 9-Line project area. The development will include approximately 5,265 square feet for the nonprofit’s thrift store and food pantry, 2,378 square feet of additional leasable commercial space, and an outdoor courtyard for community events and gatherings.
  
• Central 9^th Market and One-Eyed Dog Pizza | $500,000Central 9^th Market and C.S.A. will build out approximately 3,347 square feet of ground-floor retail space in The Aster mixed-use development for a pizza restaurant and catering kitchen. The approximately $859,000 project will support a local food business and bring additional commercial activity to Main Street. 

Building rehabilitation and reuse

• Remora | $418,000Remora Bar LLC will rehabilitate and build out approximately 4,297 square feet of existing commercial space at 228 S. Edison St. The approximately $1.05 million project will create a themed hospitality venue inspired by the Great Salt Lake, incorporating art and design elements that celebrate local and international cultures. 
• Cramer House | $306,000
  Cramer House LLC will rehabilitate a vacant, two-story historic building at 255 S. State St. The approximately $1 million project will convert the 3,186-square-foot building into two themed bars, returning an underused downtown building to active commercial use. 

CDLP applications are evaluated based on financial feasibility, project readiness, alignment with CRA priorities, and anticipated community benefits. Projects may qualify for reduced interest rates by meeting additional goals related to job creation, economic opportunity, walkability, building preservation, and other community priorities. 

The approved loans are subject to final underwriting and closing requirements, with projects generally expected to break ground within 12 months of receiving award letters. 

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About the Salt Lake City Community Reinvestment Agency

The Salt Lake City Community Reinvestment Agency works to strengthen neighborhoods and support equitable economic development through strategic investments in housing, commercial development, public spaces, and community infrastructure.