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City Creek Harmons Store to Produce More Jobs Downtown

The final groundbreaking for downtown's City Creek project was yesterday, July 8, for City Creek's downtwon grocery store, Harmons.

"It's an exciting day to note that this is the concluding groundbreaking," said H. David Burton, Presiding Bishop of The Church of Jesus Christ of Latter-day Saints, which is developing the City Creek Project for Salt Lake City.

The groundbreaking for Harmons' fifteenth store is the beginning of the 50,000 plus square foot construction project that will finish during the fall of 2011.

Daybreak's Model Home Preview Presents the Future of Daybreak Home Plans

Over the weekend of June 26, a new Brookside model home gallery was premiered at Kennecott Land's Daybreak Development.

The homes presented the future of Daybreak home plans, with ENERGY STAR rated homes scoring as low as the 60s, in terms of the Home Energy Rating System (HERS) Index.

Marcus & Millichap Sells Eight-Room Hospitality Building

CASTLE VALLEY – Marcus & Millichap Real Estate Investment Services, the nation’s largest real estate investment services firm, has announced the sale of Castle Valley Inn Bed & Breakfast, an eight room hospitality property located in Castle Valley, Utah, according to Kent R. Williams, managing director/regional manager of the firm’s Las Vegas office. The asset commanded a sales price of $1,000,000 and seller provided financing.

Greene’s Inc. Awarded I-15 Concrete Rehab Project from Centerville to Farmington

Bountiful, Utah – Greene’s Inc. Construction Services was recently awarded a concrete rehabilitation project from UDOT spanning the I-15 corridor between Centerville and Farmington. The project begins June 2 and is slated for completion within 90 days.

Homeowners Facing Foreclosure Have Little Hope

More than 22,000 Utah homeowners facing foreclosure, according to the Salt Lake Tribune's analysis of RealtyTrac data.

Since July 2008, more than 18,000 families across the state have received default notices, 4,720 of those were filed during 2010.

Downtown City Creek Development to Bring Area Out of Recession

By Ken Holman

Overland Group

Panelists met Wednesday, May 25, to discuss the City Creek development project in downtown Salt Lake City.

"Salt Lake City could be the epicenter for growth [in the west] for years to come. We're talking about sustainable growth. Office space in many western cities is going at fire sales prices," one panelist stated. "You can buy office space at 20 cents per square foot in some cities, but then you have to live there."

SITLA Acquires Coral Canyon Development

The Utah School and Institutional Trust Lands Administration (SITLA) and SunCor Development Company of Arizona announced that SITLA has acquired SunCor’s interest in the Coral Canyon master planned community located in Washington County.  Coral Canyon is the premier master-planned community in the St. George area, boasting over 1,000 homes, an award-winning golf course, and exceptional community amenities.

Utah's Improving Home Building Sector

By Commerce Real Estate Solutions

Recovery in Progress in Utah's Apartment Industry

By James Wadsworth and Greg Barratt

Henrdicks & Partners

Market Trends

The sharp decline in rents has ended as owners and managers have been pulling back deep discounts offered during the winter months. Some properties are back to market rent levels. Vacancy inched close to 10 percent as new product has been introduced to the market. The worst appears behind us with concessions off their peak one year ago. Expect improving conditions through the summer as job losses taper off and a new crop of graduates bloom.

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