1881 W North Temple
Salt Lake City, UT 84116
Multifamily Development Site · Land For Sale · 1.94 AC

Fully-Entitled – The site is fully-entitled for 351 units. All construction documents, full building plans and property reports are included in the purchase, allowing construction to quickly commence. Desirable Zoning – Desirable and unique zoning of TSA-MUEC-C which allows for 75’ of height, with one additional story permitted through design review with the city. Design review is an over-the-counter, administrative process that does not require public hearings. Transit-Oriented Location – Located in the center of the North Temple Corridor, this site 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 1940 West North Temple TRAX station located adjacent to 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. Major Area Developments – Rocky Mountain Power will soon be redeveloping their 100-acre site, located 0.5 miles to the east of 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 mile west, to transform it into a year-round event facility featuring outdoor concerts, sporting events, a hotel component, significant retail, and apartments. Strong Area Demographics – Although this submarket is currently in transition, the area still showcases strong demographics, with average household income for 2022 at $93,753 within a 5-mile radius. Average rents currently stand at $1,611/unit/month which translates to an attractive affordability ratio of 20.62%, providing a 17% discount from downtown rental rates which average $1,942/unit/month.