Loan Amount: $6,163,405
Developer: Giv Development, LLC
Project Open 2 is a 95-unit multifamily affordable housing development, with 74 units restricted to households earning between 30% and 55% of the area median income (AMI), primarily at 50% AMI or below, targeting low-income individuals and families in a middle-income area of Salt Lake City. The project stands out as Utah\\\'s first net-zero energy apartment building constructed without additional costs, fully offsetting electricity usage through Rocky Mountain Power’s Subscriber Solar program, and shares its innovative designs openly to encourage similar eco-friendly developments while reducing urban emissions. Unique amenities include a shared rideshare system with cars, electric bikes, and discounted transit passes; and community features like an outdoor tot lot, computer room, clubroom, conference room, raised vegetable garden, and bicycle racks, all tailored to meet the everyday needs of low-income tenants as informed by the developer\\\'s founder who personally experienced minimum-wage living, van dwelling, and time in a homeless shelter.