March 10, 2020 – Ogden, Utah. Mountain West Commercial Real Estate (MW) is pleased to announce the recent sale of commercial land at 2961 South Washington Boulevard, Ogden, set to begin construction soon on a new low-income housing project for senior living.
Mountain West was able to market the current vacant retail building as a multi-family property, securing a much higher selling price for the seller, Ogden No. 1, LLC., DBA Flower Patch.
Chris Monson, MW Broker representing the seller, said, “We were ecstatic to be able to get entitlement for a multi-family property and deliver the best price possible for our client. We were able to get a significantly higher value out of the property as multi-family land rather than selling it as a vacant retail building.”
The buyer, Slow BLVD, LLC, was able to get a Utah low income housing tax credit approved for the property, making way for 78-units on 2 acres of land.