Parkview Financial, an alternative investment firm specializing in U.S. commercial real estate credit, has closed a $30 million construction loan for a new mixed-use development located at 2360 Main Street in South Salt Lake City, Utah. The project will feature an 8-story mid-rise building with five floors of residential units above three floors of above-grade parking and ground-floor retail. The development sits on a 1.24-acre site, an assemblage of ten parcels, and will include amenities such as a rooftop deck, community area, fitness center, bike storage, hot tub, and yoga room. Residential units will feature stainless steel appliances, solid surface countertops, and oversized walk-in closets. The project will provide 217 structured parking stalls with controlled access.

The property is strategically located just two blocks from Central Pointe Station, a junction of three lines of the Utah Transit Authority’s TRAX light rail system, offering easy access to downtown Salt Lake City and the broader metropolitan area. This transit-oriented location supports strong long-term rental demand and continued growth in South Salt Lake City.

Parkview structured the transaction as a leasehold construction loan secured by the improvements, with financing aligned alongside sponsor equity to ensure a well-capitalized development. Construction is expected to begin immediately following closing, with completion targeted for the fourth quarter of 2024.