SALT LAKE CITY, Utah – Community members, city dignitaries, and project leaders of Seven O2 Main Apartments gathered, Thursday, to celebrate the grand opening of the innovative new multifamily community developed by Provo-based PEG Companies [PEG].
Located at 702 Main Street and part of the PEG Opportunity Zone Fund I, LP., the Seven O2 Main multifamily development will anchor an up-and-coming neighborhood on the south side of Downtown alongside a new TRAX light rail stop that public and private partners came together to build. Over the next several years, the 10-acre block that the apartments stand on will continue to come to life as new projects are built under the D-2 Downtown Support Commercial District zoning guidelines.
“As the development team for the [Seven O2 Main Apartments] project, we had a distinct vision for the property early on,” said Matt Hansen, President of Development at PEG. “We knew that it was going to be in the path of growth,” he explained.
In 2021, Utah’s largest healthcare provider Intermountain Healthcare purchased the former Sears building on the nearby corner of 800 South and State Street. Other new projects to the area include an office building and more apartments to the north.
Playing off the oxygen (O2) chemistry molecule, Seven O2 Main Apartments are the first of their kind in the area. Designed to promote the health, wellness, and self-care of every resident, the 239-unit community is equipped with amenities that encourage and support residents who are trying to live active, healthy lifestyles.
“We really wanted to bring in a lot of hospitality-inspired elements to help people feel like they’re being pampered and taken care of,” Hansen said.
Under the management of PEG Property Group, the commercial and multifamily property management arm of PEG Companies, Seven O2 Main Apartments boast unique amenities including a 24-hour health and wellness center, a hydromassage bed, an in-house mini market equipped with healthy grocery items, multiple sports courts, a zen garden, live-work suites, a pet spa, a bicycle wash, a massive rooftop deck with 360-degree mountain and city views, outdoor fitness equipment, and more.
“Everything we’re offering at Seven O2 Main, combined with the critical connectivity of the new TRAX stop, truly sets the stage for the revitalization of this area,” said Cameron Gunter, Founder/CEO of PEG. “We are passionate about generating growth and new opportunities for communities and our investors, and we look forward to seeing this area flourish as other quality projects come to the neighborhood.”
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