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Friday, November 14, 2008
Property Reserve Inc. Makes Massive Investment In Downtown Ogden
Property Reserve Inc., the real estate arm of the Church of Jesus Christ of Latter-Day Saints, continues to invest heavily in the Ogden area. PRI is working on a new apartment complex just north of the temple site. This project complements a similar large complex completed in 1998 just to the west of the temple site.
In talking with industry insiders, the complex will have 210 or so units. They are reported to be 2 bedroom 2 bath and will rent for around $750/mo. This project will be top-end and have superior quality tenants. It will be another step in the right direction for stoking the downtown economy.
As a final note, I do find the architecture of this project rather eclectic. The roof lines are from the Frank Lloyd Wright Prairie School motif but the windows and bay windows are more Queen Ann Victorian in design. It's a rather wacky design combo in my opinion. I am sure I am only one who cares. Maybe we can call this new idea Prairie Queen architecture.
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