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  • The preliminary plat for Pickleville Commons, a 13-unit condominium development, was approved by the Garden City Council. The development will be built on 2 acres at 2099 S. Bear Lake Blvd.

  • By James Wadsworth & Greg Barratt

    Hendricks & Partners

    Rental Market

  • The Weber County Planning Commission approved the master plan for 46.14 acres at 3600 N. Highway 40. Mike Christensen with JT Wasatch Commons LLC proposed to build 224 apartments, 324,085 square feet of commercial, office and hotel space.

  • Herriman approved the site plan amendment for Herriman Downs, a project by Garbett Homes. The planned unit development will consist of 174 units on 24.81 acres at 5260 W. 12600 South. Construction for the first phase will begin this spring.

  • Garden City granted final approval for phase three of the Season's, a condominium project at 100 N. 100 West in Garden City. Phase three will include the construction of the clubhouse, pool and other amenities. When complete, the project will have 10 buildings, totalling 58 units. Rod Thompson of Logan is the developer.

  • The West Valley Planning Commision approved the final plat for phase one of Harkers Landing planned unit development located at 2560 S. Anna Caroline Drive. The development will be built  in approximately six phases. The project will consist of 11 units on 1.13 acres. The project site is zoned RM. It will now go before City Council.  Bart Sharp, representing Holmes Homes, will represent the project when it goes before the West Valley City Council at a later time.

  • By James Wadsworth and Greg Barratt

    Hendricks & Partners

    Salt Lake County: Street rents have nosedived by 8.5 percent  in the last year as owners attempt to keep occupancies up. The good news is that job losses are beginning to taper off, and vacancy is not getting any higher. Concessions are down as owners choose to lower rents instead of giving away free rent.

  • (The Enterprise) Salt Lake City’s apartment vacancy is on the rise in the third quarter at 6.8 percent, up from 4.3 percent one year ago, according to a report released by CB Richard Ellis. The vacancy rate has been increasing. However, there are 13 apartment projects (with a total of 3,103 units) under construction in Salt Lake County. The average apartment rental rate is $794 per month, which is down from $820 last year.

  • (Daily Herald) A settlement was reached Tuesday between a partner and the developer of Joaquin Village, a proposed student housing project in northeast Provo that's been stalled for more than a year because of the recession and tighter lending standards.

    A dispute over financing terms for the construction of Joaquin Village resulted in its developer, Joaquin Development, filing for Chapter 11 bankruptcy protection last month to block Peak Capital Partners from foreclosing on the 5-acre parcel.

  • Grandfather was President 50 Years Ago

     
    By Kelly Lux
    Real Estate News Utah Editor
     
    In his youth, O.
  • Conditional approval was granted for the Vitaro planned unit development at 650 S. 600 East in American Fork. Fifty-four units will be built on 5.5 acres. The developer is David Robinson with The Fusion Group.

  • A 97-unit condo development will be built in Garden City at 100 N. 100 West. Rod Thompson is the developer on the project. He plans to begin construction on Phase II of the project soon. Phase I is already complete. Phase III is waiting for final approval from the Garden City Council. Once complete, the Season's Condo Development will have 17 buildings on 8.21 acres.

  • The Rocky Mountain Townhome project received approval from the Provo Planning Commission and will be recommened for approval to the Provo City Council. Developer Chris Olsen wants to build 11 townhomes on .60 acres at 673 W. Labon Circle. Each unit will be approximately 1,600 square feet. John Duster with Georgetown Development is the builder on this project.

  • By Kelly Lux

  • (Herald Journal) Cache County is considering partnering with a Salt Lake City-based firm in a project that could result in a new senior citizens center and roughly 200 surrounding apartments.

    Though discussions are in the initial phase, if the proposal is ultimately adopted, the current Cache County Senior Citizens Center would be demolished, paving the way for a brand new facility.

    A new building has been talked about for several years among county leaders, who have noted that the current facility is not up to code in certain areas and has aged over the years.

  • (Daily Herald) Joaquin Village, a proposed student housing project in northeast Provo that's been on hold for more than a year, may remain a field of weeds indefinitely.

    A dispute over financing for the construction of Joaquin Village resulted in its developer filing for Chapter 11 bankruptcy protection last month to block a partner from foreclosing on the 5-acre land parcel.

  • (Deseret News) Salt Lake County's apartment vacancy rate was 6.8 percent in the third quarter, up from 4.3 percent a year earlier, according to a CB Richard Ellis report released this week.

    In communities with more than 100 units, the average apartment rental rate in the county was $794 in the third quarter, down 3.2 percent compared to $820 in the same quarter a year earlier. The highest rent on the average two-bedroom unit was found in the northeast submarket at $932 per month, and the lowest average two-bedroom rate was found in the northwest submarket at $765 per month.

  • By PR or News Wire

    The apartment vacancy rate in Salt Lake County rose to 6.8 percent in the third quarter, up from 4.3 percent compared to the same quarter one year ago, according to the CB Richard Ellis Apartment Report.

     

    “Over the past year the apartment vacancy rate has substantially increased, but it appears to be stabilizing going into the fourth quarter,” said Seth Rossow, multi-family investment specialist at CB Richard Ellis. “In 2010, the vacancy rate will again rise as new apartment buildings come on-line.”

  • Saratoga Springs Planning Commission approved the site plan for the 72-unit Jordan Ridge Condominiums. If the project is approved by the city council, Red Castle Enterprises, LLC, will construct six buildings on 8.25 acres at 1175 N. Riverside Drive. The project will include several amenities, such as a playground and a picnic area.

  • MIDVALE (Deseret News) — Rising from the ashes of a historic smelter is a federally subsidized housing project that city leaders hope will be an example for property management citywide.

  • Ground was broken at 7500 South and 800 West in Midvale for the Florentine Villas Apartments. A celebration was held on Tuesday, Sept. 29, with the Chamber East Ambassadors and Midvale City Mayor JoAnn Seghini and the Midvale Ambassadors helping officiate the ceremony. Utah Housing Corporation is teaming up with Wasatch Advantage Group to build the apartments, the largest affordable housing development in Utah, using the Tax Credit Assistance Program funds issued through the Federal Stimulus Program.

  • (AP) Renters might have the upper hand in today's apartment market, but they're not taking all they can get.

    Budget-minded and worried about employment, tenants are eschewing the fancy extras for more basic, money-saving amenities. They want energy-efficient appliances to cut costly bills and flexible leases in case of a job loss, landlords and apartment managers say.

  • SANDY (Deseret News) — The Sandy City Council is slated to approve a $5 million purchase of the land that was once planned for a Broadway-style theater.

    Plans for the 40-story, 600-foot Proscenium towers have been scrapped for now due to the developer's funding drying up, said Sandy spokeswoman Trina Duerkson. But a theater, apartments, condominiums or commercial development could still be on the horizon.

  • (West Jordan) The West Jordan Police Department is expecting to see a decrease in crime, more money in the city’s coffers and better neighborhoods, all with the implementation of the Good Landlord Program, which recently was unanimously adopted by the city council.

  • By Kelly Lux

    Real Estate News Utah Editor

  • Developer Mike Stewart with JMMS Enterprises plans to build a 240-unit multi-family residential development in Saratoga Springs. The development would be built on 12 acres at 130 S. Commerce Dr. Twenty-one units will be built on each acre. The apartments would have several amenities, including a swimming pool, a club house, a park, open space and trails. Site plan review will take place in November or December. Construction could begin as soon as March or April 2010.

  • The Provo City Council recently considered an ordinance to annex 346.72 acres for future development . Randy Young and Dave Gardner of Gardner and Associates intend to develop the property located from Geneva Road to Utah Lake, between 1300 North and 2000 North. Gardner and Young want to develop the property in two phases, with some single family and attached housing. They also hope to add some commercial development to the property.

  • NORWICH -- It seemed the perfect spot for a condominium complex back when the economy and housing market were booming -- a relatively quiet area in Taftville near a highway exit and with beautiful views of the Shetucket River and the historic Ponemah Mill complex.

  • (Daily Herald) Alpine's Planning Commission has set a public hearing to be held at the next available meeting on the issue of accessory apartments. The subject of the public hearing will be on the definition of accessory apartments which currently have to have seperate eating, sleeping and sanitation facilities. The change proposed would be to replace the word "eating" to cooking.

  • REXBURG, Idaho – Marcus & Millichap Real Estate Investment Services, the nation’s largest real estate investment services firm, has arranged the sale of the 63-unit Mountain Pines Apartments, a 378-bed, 69,300-square foot student housing complex in Rexburg. The sales price of $5.5 million represents $87,302 per unit and $79 per square foot.
     
    Daniel Shin and Michael Beckstead, student housing investment specialists in the firm’s Salt Lake City office, represented the buyer, a Utah-based private investor.
     

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