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  • New Salt Lake Questar Building Coming Up Fast

    Posted on March 23rd, 2011 admin No comments

    Artist concept by EDA Architects, Inc.

    Scheduled to open in January of 2012 this 170,000 square foot LEED Silver certified building at 333 S. State Street will feature over 6000 square feet of street level commercial space, a public plaza, and underground parking.  The cost is estimated at $45 million and will be the new corporate headquarters for Questar Gas.

  • Great Salt Lake video from Downtown Rising

    Posted on February 23rd, 2011 admin No comments

    This is about 18 months old, but still has some great views.  Several of the buildings shown here in construction are now complete.

  • Salt Lake’s City Creek to Host a Harmons Grocery

    Posted on September 9th, 2010 admin No comments

    To be completed in late 2011, this large full service grocery store will be a welcome addition to the new urban core of Salt Lake City.  The 43,000 square foot multi-level glass front building will have parking above and will be open 7 days a week.  Harmons is a local chain of Grocers currently operating 13 other stores in Utah.  It will be located at 135 E. 100 South as part of the new City Creek development.
    Artist rendition courtesy of www.harmonsgrocery.com

  • Virtual Tour of Salt Lake’s City Creek Project

    Posted on August 23rd, 2010 admin No comments

    This is either the conceptual tour of  Salt Lake City’s new City Creek development or a sneak peak at GTA 6.

  • A Look Back: 2007 Implosion of Key Bank Tower Salt Lake City

    Posted on August 21st, 2010 admin No comments

    20 story tower at 50 S. Main, demolished to make way for the City Creek development
    August 2007.

  • Salt Lake City Sky Bridge for City Creek

    Posted on August 18th, 2010 admin No comments

    The much debated sky bridge is in place over Main Street.  The pedestrian bridge will join the two large sections of City Creek development currently under construction.  Photo dated June 22, 2010.

  • The Regent Condominiums in Salt Lake City

    Posted on August 18th, 2010 admin No comments

    This new 20 story mixed use condominium at 35 E. 100 South in Salt Lake is part of the City Creek development.  The Regent has 150 Residential units that are being pre-sold with prices between $308 per square foot to over $800/sf.  This building is currently 63% reserved.  Photo taken June 22, 2010.

  • Richards Court Condominiums in Salt Lake City

    Posted on August 17th, 2010 admin 1 comment

    Twin condo buildings now completed at 45 and 55 W. South Temple.  The pedestrian walkway between the buildings will provide one of the main entrances to the greater mall area of the new multi-billion dollar City Creek development.   The two buildings host 91 residential units with prices ranging from $298 per square foot to over $900/sf.  Currently 33% of the units have been sold.
    Photo taken June 22, 2010.

  • Promontory Point building in Salt Lake City

    Posted on August 17th, 2010 admin No comments

    The cornerstone building of the new City Creek development in Salt Lake.  The building name is still unofficial and is not yet being actively marketed.  Located at the intersection of West Temple and South Temple this 32 story condominium will be the tallest residential structure in the city.  Photo taken June 22, 2010.

  • Relocated Odd Fellows Hall Open House and Sale

    Posted on July 19th, 2010 admin No comments

    Originally built in 1891 this 3 story 2500 ton masonry building was lifted, rotated and moved across the street last year.  Now the owner (U.S. General Services Administration) is auctioning  the historic landmark on July 28th.  The building will be open to prospective bidders (and probably anyone else) for an open house on July 27th from 9:00 am to 2:00 pm at 40 W. Market St.

    Here is a clip from the relocation effort featuring some great time-lapse footage of the move (starting at about the 5 min. mark).

    This is all part of clearing the block for construction of the new Federal Court House downtown.

    http://www.utahheritagefoundation.org/saving-places/41-moss-courthouse-expansion-project

  • LDS Church lowers price on select City Creek units

    Posted on July 8th, 2010 admin No comments

    The Salt Lake Tribune reported today that prices in the Regent building under construction at 35 E. 100 South will be “re-evaluated” in light of the economic downturn.  Condo units that were priced to start at around $300,000 will now start in the mid $100,000’s.
    Note that this announcement is for the building on 100 South and not the Temple view Richards Court buildings or the Promontory on the corner of West Temple and South Temple.  This new price is almost certainly a base price and would not include any upgrades.
    There appear to be only 4 of these smaller units on the second floor.  So the big announcement may be more of a marketing ploy than an overall reduction across the board.  But it is a sobering message.

    Salt Lake Trib article

  • Urban Core Salt Lake City 2nd quarter 2010 real estate sales

    Posted on July 7th, 2010 admin No comments

    This is just painful.  The median price dropped yet again for the downtown area (six block radius) to a low of $199,000.  This is off a sobering 35% from the peak of $307,000 in the 2nd quarter of 2007.  Admittedly that $307K was an unusual spike.  My guess is that the actual peak was more in the upper 200’s, but still…
    The only good news here is that the number of sales continues to climb at 52.  So people still want to live downtown, and they’re getting a heck of a deal right now.  As an owner of property in this area, my only consolation right now is to look at the long term sale graph.
    Urban Core sales 2007-2010 2nd qt
    Urban Core sales 1996-2010 2nd qt

    Using sales data from the previous six months gives an absorption rate of 14.3 home sales per month which puts the inventory at just under 12 months.
    Note that these numbers do not include the City Creek project or several smaller new construction condos which may not post any/all of their properties on the multiple listing service.  The City Creek project alone with its unprecedented prices and volume would dramatically push these numbers much higher.

  • The new federal courthouse in Salt Lake City

    Posted on July 2nd, 2010 admin No comments

    Much better conceptual images and floor plan can be found at the architect’s web site: Thomas Phifer and Partner’s.  This U.S. district courthouse will occupy the leveled block between 300 and 400 South / Main Street and West Temple where Port-O-Call used to be.  The building will be over 300,000 square feet and looks to be about 10 stories.  Projected to be completed next year, but my guess is that there has been some delay.

  • Salt Lake City Urban Core 1st quarter 2010 real estate sales

    Posted on May 30th, 2010 admin No comments

    Median sales price of $215,000.

    By my own definition the urban core is described as a circle with a radius of 6 blocks centered at Temple Square.  I wanted to keep it walkable to downtown and inclusive of the free fare Trax zone.  Within this boundary lie most of the new successful condominium projects, shopping areas, restaurants, clubs and the new City Creek development.  Dollar per square foot rents and sales are often dramatically higher here than elsewhere in the city or valley.  Most of the data points are from condo sales as there are relatively few single family homes remaining in the city.

    I would be very interested to see how the sales of City Creek will effect this graph.  Unfortunately the sold price of these new construction high-end condos are not currently part of the multiple listing service.  Assumptions would have to be made on a ratio of asking price to sold price.  Given what we know about the roughly $600 per square foot listed price of these costly creatures, the statistical push would have to be considerably northward.  Moving on up Salt Lake!

    Urban Core 1st qt 2009-2010
    Urban Core 1st qt 1996-2010