Catalyst's investment into the $93.5m project marks another major milestone in the $270m Silos masterplan to create a vibrant, mixed-income neighborhood.

Catalyst Opportunity Funds (Catalyst) is pleased to announce the recent groundbreaking of Silos Building 3, a 220-unit residential development in Salt Lake City's historic Granary District. The $93.5 million project is a critical component of The Silos, a $270 million master-planned development transforming a historically overlooked industrial corridor into a thriving, mixed-income neighborhood. The project is projected to deliver in Q4 2027.

The 220-unit building plays an essential role in completing the income diversity of the Silos masterplan, which serves households earning 60-120% of Area Median Income (AMI) across its 733 units. The broader block, including partner developments designed in chorus with the Silos masterplan, expands the housing options across a 0-120% AMI spectrum. "Building 3 represents a core component of a truly mixed-income block," said Kristian Peterson, Managing Partner at Catalyst. "With an income spectrum ranging from 0-120% AMI, we're proving that economically diverse neighborhoods aren't just possible—they're essential for creating vibrant, sustainable communities.”

Since 2019, Catalyst and its partners at Blaser Ventures and Lowe Property Group have invested approximately $600 million in the Granary District, making Catalyst the largest individual investor in the neighborhood. Once complete, Catalyst's investments will have contributed to the development of close to 1,000 units and 900,000 square feet of commercial space.

The Silos masterplan features a mix of commercial office spaces, retail outlets, and multifamily units, with the majority of the 733 housing units targeting individuals and households earning less than 80% of the area median income, including 180 units financed through Low-Income Housing Tax Credits.

About Catalyst:

Catalyst is a double bottom-line private equity firm focused on transformative real estate investments in high potential, but historically underserved U.S. markets. With over $1 billion in real estate assets, Catalyst invests in impactful, market-rate return oriented projects with a primary focus on workforce affordable housing. Institutional investment expertise, relationships with qualified sponsors in high-growth secondary markets, as well as significant experience in the structuring of creative capital stacks give Catalyst a competitive advantage in delivering long-term value creation to investors, as well as positive outcomes within communities.

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With an income spectrum ranging from 0-120% AMI, we're proving that economically diverse neighborhoods aren't just possible—they're essential for creating vibrant, sustainable communities.