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As downtown Salt Lake City’s boom in residential construction rolls ahead, developers have purchased a high-profile office tower along South Temple with plans to convert it into luxury apartments.

Hines, a global real estate company based in Houston, said work on the white 24-story office building known to longtime residents as the University Club Tower, at 136 E. South Temple, would begin in early 2023 and transform it into 255 high-end studios and one- and two-bedroom dwellings.