More apartments in Midvale's Bingham Junction

Wasatch Advantage Group plans to break ground in August on a 214-unit apartment community in Midvale at 7400 South and 1000 West. Construction is expected to take 14 months. Florentine Villas will be part of an affordable apartment community located on the former Sharon Steel site in Midvale. The Villas will be part of the San Moritz and San Malo properties, which will have nearly 700 units collectively. Wasatch Advantage is also planning to break ground in 2010 on Tuscany Village, an 85-unit, senior living complex. Wells Fargo has provided financing for the San Malo project with a HUD 221D4 loan. Florentine Villas is being financed with tax-exempt bonds. Wasatch Advantage has one parcel in the area left to develop. The land is zoned for townhomes. Wasatch Advantage has had little trouble in leasing the new apartments. The Enterprise, June 29 to July 5, 2009