Cole West Opens Salt Lake City Community
The property totals 165 apartments and 11 single-family homes.
Cole West has opened theMADISON, a Syracuse, Utah, community comprising 165 units and 11 single-family homes. The company broke ground on the project in March last year.
In December 2024, the firm took out a $30.6 million construction loan for the development, according to Yardi Matrix information. Sunwest Bank originated the financing.
Located at 1550 W. 300 S., theMADISON is close to several retail options, including a Walmart, and the Freeport Center and Hill Air Force Base. Salt Lake City International Airport and the city’s downtown are within a 32-mile radius, while Syracuse’s city center is 2 miles away.
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The single-family homes span 2,250 square feet and have four-bedroom layouts. The unit mix comprises one-, two- and three-bedroom floorplans, ranging from 820 to 1,506 square feet.
Common-area amenities are set to include pickleball courts, a swimming pool, a community clubhouse, a fitness center and a dog park. The property will also have a gas grilling area and additional outdoor space.
Salt Lake City’s residential footprint slows down
As of February, Salt Lake City had 10,082 units under construction, along with roughly 42,000 apartments in the planning and permitting pipeline, according to a Yardi Matrix metro report. Upscale developments accounted for 78 percent of those units, while the remaining 22 percent were in partially or fully affordable communities.
Despite the sizable pipeline, new development activity has continued to slow as financing challenges weigh on the market. Developers broke ground on 4,770 units across 24 projects in 2025, down from 5,462 apartments across 28 projects in 2024.
Based in Centerville, Utah, Cole West focuses on multifamily housing, retail and mixed-use development across Northern and Southern Utah, as well as Dallas. Earlier this year, the company broke ground on Chapter Salt Lake City, a 693-bed student housing project serving the University of Utah, in partnership with CRG.
