Ground was broken Tuesday for Providence Place Apartments -- a seven-story, 125-unit residential project in downtown that will be located at 309 East 100 South. The 114,763-square-foot project -- targeting working individuals and families -- is scheduled for completion in spring 2012, but first occupancy could occur by fall of this year. The project is an affordable housing development that will include 27 studio units; 68 one-bedroom, one-bath units; and 30 two-bedroom; two-bath units. In addition, the complex will offer a clubhouse/meeting area, a media and business center, fitness center and open-air atrium. The total development cost of the project is estimated at $18.7 million and was financed through various sources, including $9.8 million in tax-exempt bond credit from the U.S. Department of Housing and Urban Development and $5 million in federal tax credits through Goldman Sachs. KSL
