IBM Building Preservation Earns $3.2 Million in Tax Credits for Salt Lake City Housing Project

A historic office building in Salt Lake City has been preserved and repurposed as part of a new mixed-use housing development. The IBM Building, located near 348 S. Temple, was built in 1962 and features post-tensioned concrete arches and columns that are unique to the area.

The project, known as The Source on South Temple, includes over 180 residential units, including 20 in the IBM Building. Woodbury Corporation received $3.2 million in tax credits for preserving the historic building, which is part of the National Register of Historic Places district.

State historians praised the project for showing how adaptive reuse can protect Utah's unique architectural history while meeting its housing needs. The building was preserved and rehabilitated to maintain its original aesthetic, with new exterior railings that mirrored its original design.