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- LoopNet Team
1625 W North Temple
Salt Lake City, UT 84116
Multifamily Development Site · Land For Sale
·
0.57 AC
Investment Highlights
- Fully-entitled for 113 units, with approved plans and property reports included with purchase.
- Located in the center of the North Temple Corridor.
- Desirable and unique zoning of TSA-MUEC-T.
- Strong area demographics, with average household income for 2022 at $93,753 within a 5-mile radius.
Property Facts
Description
All construction documents, full building plans and property reports are included in the purchase, allowing construction to quickly commence. This transit-oriented location enjoys TSA-MUEC-T zoning, which allows for 60’ of height with one additional story permitted through design review with the city. It has unrivaled access to both Downtown Salt Lake City and the newly built, $5.1 billion Salt Lake City International Airport within a 5-minute car or train ride. In addition, the site is right next to the Redwood Road freeway interchange onto I-80, which is a major east-west artery and connecting to I-15 that runs north and south throughout the Wasatch Front. The site also features direct access to public transportation with the Power Station TRAX station located one block east of the site as well as the UTA FrontRunner high speed train station located 1.5 miles east, which runs 90 miles from Ogden to Provo. Rocky Mountain Power will soon be redeveloping their 100-acre site, located immediately next to the subject property, to a sizeable mixed-use project with the first phase consisting of their new office headquarters, market rate apartments and anchor retail for the surrounding area, as well as a prospective Major League Baseball stadium. In addition to Rocky Mountain Power, the Utah State legislature has allocated $150 million to the Utah State Fairpark, located one block west, to transform it into a year-round event facility featuring outdoor concerts, sporting events, a hotel component, significant retail, and apartments.
