featured INVESTMENTS

ALTA CENTRAL STATION - PROVO, UTAH

Alta Central Station is a 124-unit mixed use development that provides high quality, workforce housing near several transit options in Provo that is surrounded by local eateries, entertainment, the outdoors and is just minutes from Brigham Young University. The site is in the city’s Transit Oriented Development (TOD) zone, is designated as “Very Walkable” with a walk score of 73 and boasts easy access to public transportation. With UTA’s Provo Central Station only a block away, future residents can take advantage of the nearby public transit to easily explore all the Wasatch Front has to offer.

ALTA VUE APARTMENTS - SALT LAKE CITY, UTAH

Alta Bay Capital is excited to announce the recent ground breaking of Alta Vue Apartments near downtown Salt Lake City. Alta Vue is a 218 unit, Low Income Housing Tax Credit (LIHTC) multifamily development where 100% of the units will be rented at 60% of the Area Median Income. In addition to providing high quality affordable housing, Alta Vue will offer education programs to residents including after school programs for children/young adults, workforce training, employment assistance, language courses and financial literacy courses. The central, urban location will also provide tenants with easy access to downtown as well as multiple transit options that are only a 5 minute walk away at one of the city’s busiest transit hubs. Alta Bay Capital partnered with Goldman Sachs to provide the equity and KeyBank is providing both the construction and permanent financing for a total project capitalization of $54 million.

Brickyard flats - salt lake city, utah

BRICKYARD FLATS is a deep value add investment located adjacent to the popular Sugar House area of Salt Lake City. The design team completely reconfigured the interiors and ultimately converted the previously built 1-bed units into 2-bed units, and the previous 2-bed units into 3-bed units by taking advantage of unused space. The end result was attractive, quality housing that was rented at 80% of the Area Median Income (without subsidies) and a 44% reduction in water use through efficient design and fixture selection.

2ND & K LOFTS - salt lake city, utah

2ND & K LOFTS was built in 1906 and recently restored to a condition that contributes to The Avenues historic character while providing tenants with a more pleasant, modern living experience. The design team employed architectural precedents from properties of a similar vintage in the surrounding neighborhood and capitalized on modern building materials that project a historic appearance while being low-maintenance and energy efficient. These aesthetic guidelines were coupled with premium finishes to produce a living experience that is both visually pleasing and physically comfortable. This level of quality paired with one of the highest appreciating, most desirable submarkets in the state of Utah offered investors a solid investment with low maintenance and minimal capital expenditures for many years to come.

Stayover suiteS - hopewell, virginia

Stay Over Suites is a 108-key extended stay hotel situated within a 30-minute drive of downtown Richmond, Virginia and 5 minutes away from Fort Lee. The site is bordered by Interstate 295, providing easy access to the Richmond International Airport 20-minutes away. The two-building asset was completed in 2008 and comprises 80,400 square feet. Stay Over Suites provides a variety of standard, luxury or luxury executive suites. Additional amenities include a 24-hour front desk, kitchen in all rooms, handicap rooms with roll-in showers, fitness room, gas grills and patio area, coin operated guest laundry and a business center.

4TH & BROADWAY LOFTS - salt lake city, utah

4TH & BROADWAY LOFTS was built in 1920 as an office building and presented an ideal adaptive re-use opportunity for Alta Bay and our investors. By converting the property to micro-units the project also provided much-needed naturally occuring affordable housing near downtown Salt Lake City. Alta Bay's design team was challenged with creating the functionality of a 500 square foot studio within a 225 square foot space while not sacrificing comfort. The end result was a building that exceeded the the environmental, social and economic goals set out for the property which in a short lease up and premium exit price compared with recent sales.

PAXTON RIDGE 55+ APARTMENTS - OZARK, MISSOURI

Alta Bay acquired Town & Country Apartments as a 60 unit property in 2018 along with adjacent land and entitlements to build an additional 130 units. During the due diligence process it was determined that there is a strong demand for 55+ Independent Living apartment units which offered our investors higher upside than market rate apartments. Alta Bay has just completed the design for Phase 2 which will consist of 80 units.

Campus east apartments - greensboro, north carolina

Campus East is a 144-bed student housing community that serves North Carolina A&T University which is the No. 1 ranked Historically Black College or University (HBCU) in the country according to Money Magazine’s “Best Colleges in America” rankings in 2020. NC A&T has played an indispensable role in providing higher educational opportunities to thousands of students of color, many of them first-generation college students and we are pleased to provide modern, quality off-campus housing for these students.

LANGFORD HOUSE APARTMENTS - salt lake city, utah

LANGFORD HOUSE APARTMENTS was built in 1931 by Jeremiah Langford and recently restored to a condition that contributes to The Avenues historic character while providing tenants with a more pleasant, modern living experience. The design team employed architectural precedents from properties of a similar vintage in the surrounding neighborhood and capitalized on modern building materials that project a historic appearance while being low-maintenance and energy efficient. These aesthetic guidelines were coupled with premium finishes to produce a living experience that is both visually pleasing and physically comfortable. This level of quality paired with one of the highest appreciating, most desirable submarkets in the state offers investors a solid investment with low maintenance for many years to come.