Development - Salt Lake City
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Top 10 Markets for Supply Growth
Decelerating rent growth and stagnant or falling occupancy rates suggest that developers can no longer expect the same returns experienced in recent years. As a result, development will likely slow down. According to Yardi Matrix data, these 10 markets are expected to see the greatest increases to supply this year.
14 July 2017 15:35 -
SALT Launches $275M Mixed-Use Development
Hardware District in Salt Lake City will comprise four buildings, 466 luxury units and 260,000 square feet of office space. The two residential properties are scheduled for completion in February and August of 2018.
29 June 2017 15:12 -
RED Capital Closes $20M Loan for Senior Living Facility in Salt Lake City Area
The company inked the deal on behalf of a local joint venture.
09 September 2016 12:50 -
Utah PaperBox Site Ready To Become Mixed-Use Development
ClearWater Homes and PEG Development are teaming up with VCBO Architecture on a new residential development in downtown Salt Lake City.
25 January 2016 16:49 -
JF Capital Infuses Capital in Downtown Salt Lake City
A Utah-based real estate investment management and development firm is ready to break ground on a new $28 million luxury apartment community in downtown Salt Lake City.
20 August 2015 11:41 -
Utah Poised to Build on 2013′s $1.3B Commercial Investment
2014 is shaping up to be an important year for Salt Lake City’s real estate market in terms of both residential and commercial sectors. However, it should be noted that 2013 was also a good year for the real estate market. According to the Salt Lake Tribune, the state has seen its best investment figures since before the economic downturn. Last year saw $1.3 billion be poured into the state’s commercial market. That same source writes that, should the amount of available properties have been higher, the figure would have also been considerably larger.
17 January 2014 00:02 -
Hilton Opens Home2 Suites Extended-Stay Hotel in South Jordan
As 2013 draws to a close, Salt Lake City is gearing up for a good year, with reports projecting the city’s residential market as one of the fastest rising in the entire U.S. However the end of the year has seen one of the more low-key sectors of the area’s real estate market finish on a high note as Hilton announced the opening of its Home2Suites by Hilton Salt Lake City/South Jordan. The facility is under the ownership of South Jordan Hotel Ownership, LLC, with management duties handled by Widewaters Hotels LLC.
01 January 2014 21:22 -
Orem Approves Mixed-Use Plan for University Mall; State Weighs Relocating Utah State Prison in Draper
As Utah has seen its profile as a tech market become more and more of a draw, local authorities are trying to make sure that they facilitate the creation of the proper environment to make more growth possible. Now, as the state’s job market is one of the healthiest in the entire country, and Salt Lake City, the largest city in Utah, is set to have one of the best office markets in 2014, policies are being drawn up to attract further interest to the area’s tech market. However, a major hurdle is in the way of one of the most important development areas for SLC’s tech market, the Standard-Examiner writes.
20 December 2013 00:04 -
U. of Utah Breaks Ground on $30M Clinic, its 14th in Salt Lake Valley
Investment opportunities can be found everywhere in the Salt Lake City metropolitan area but, in 2013, a focus on education and healthcare has been noticeable. A number of universities have expanded their facilities in 2013 and the latest institution to do so is the University of Utah. U of U is making a serious investment in the development of the new Midvalley Health Center, a facility that will provide quality dermatology care and ophthalmology services once it is completed.
06 December 2013 22:43 -
Airport Makeover May Bring Additional Investment to State
With the promise of a new-and-improved airport coming to Salt Lake City, other major projects seem to be taking flight in the city. After a few weeks ago it was confirmed that the contract for the Salt Lake City International Airport Terminal Redevelopment Program project had been awarded to the partnership between Big-D Construction and Holder Construction Co., reports regarding a Boeing facility that would house the production of the 777X airplane have surfaced recently.
21 November 2013 18:45 -
Wasatch Front Job Growth Outpaces 2012; Retail Vacancy Declines as New Product Slows
By Alex Girda, Associate Editor As Salt Lake City’s economy slowly rises, improvement is extending to the retail market, a recent report shows. The Wasatch Front has added approximately 36,900 new jobs over the past year, an annual growth rate of 3.6 percent. According to Marcus & Millichap Real Estate Investment Services Inc., professional and [...]
19 October 2013 18:58 -
Anderson Development Details Plans for Mixed-Use Project at Geneva Steel Site
Set to become the new development hotbed for the Salt Lake area, the site of the former Geneva Steel plant has been in the news for a number of times over the past years. After the collapse of the Real Salt Lake stadium project, Anderson Development had recalibrated its sights and decided to get a massive mixed-use community to the 100 acres of land available at the site. Now, a number of retailers and developers have projects lined up, finally populating the Geneva Steel master planned community’s development pipeline.
16 September 2013 15:10 -
Utah State University Expands With New Athletics Facility, Extension to Its Business School
Utah State University has had a full summer, with development projects to expand the institution’s facilities breaking ground for a total of around $50 million. Earlier this summer, USU held a ground-breaking ceremony for a new, $9.5 million athletics facility, dubbed the Estes Center. With the prospect of a brand new basketball practice facility and volleyball competition venue, the university has recently announced another groundbreaking ceremony for a new extension to its Jon M. Huntsman School of Business.
28 August 2013 20:57 -
County Rejects Bid for Tavaci Rezoning; McKay-Dee Hospital Kicks Off Expansion
The Salt Lake County Council has recently dealt another serious blow to real estate developer Terry Diehl’s ambitions as it voted 4-3 against the request to change the zoning on the Tavaci property. For a while now, the developer has voiced his intentions to develop larger buildings than originally planned at the site he owns near Big Cottonwood Canyon. With the new targeted height for development set at 100 feet, the community reacted, and according to examiner.com, a number of members of the public took to the stand and testified for around three hours against the rezoning plan.
16 August 2013 23:01 -
Second Hyatt Opens at Cottonwood Corporate Center; Cornerstone Puts Hotel Monaco on the Block
The Cottonwood Corporate Center has received its second Hyatt-operated hotel facility after the company recently debuted its Hyatt Place Salt Lake City/Cottonwood. Sequoia Development is the company responsible for the venue The city’s position in an improving banking environment and a rising tech sector, as well as its proximity to some of the best ski resorts in the country are great incentives for the hospitality market and the developer, as well as Hyatt, were ready to move.
18 July 2013 20:08