Salt Lake City: Official Development News Thread - Part 5 - Page 272

airhero · #**5421** Posted **May 30, 2019, 2:27 PM**

Quote:

Originally Posted by Stenar

First of all, plans change over 15 years. Second, an entirely new company owns Daybreak.
Before I commented previously, I visited the Daybreak website and their website describes the area with the UofU Clinic and the Rio Tinto offices as the Daybreak Town Center.

They're currently building in some of the purple and bright red areas. And quite a bit has been built west of what these maps show.

Whatever the current plans, it also says on the Daybreak website they've built over 5000 homes and plan on 20000 homes at full build out in an article dated March of this year. That's hardly 75% built out.
https://www.daybreakutah.com/whats-happening/other/daybreak-development-plans-2019/

There's still a lot of land on the west side. It's going to take a lot more than 5-10 years to build it all out, especially when there are large prospective master planned communities that haven't even started construction yet.

airhero · #**5422** Posted **May 30, 2019, 2:43 PM**

Quote:

Originally Posted by delts145

Any update pics on the Exchange site or how about Paper Box Lofts...movement on the site etc.

I go by Paperbox often. There's fencing up but that's about it. Old warehouse is still there.

DCRes · #**5423** Posted **May 30, 2019, 3:43 PM**

Quote:

Originally Posted by SLC PopPunk

I've been a long time lurker here and looking to get more involved in this community. I'll go cruise around this weekend and get some photo updates of some the developments and get them posted up!

Welcome to the fun, SLC PopPunk!

Orlando · #**5424** Posted **May 30, 2019, 3:58 PM**

Quote:

Originally Posted by airhero

Whatever the current plans, it also says on the Daybreak website they've built over 5000 homes and plan on 20000 homes at full build out in an article dated March of this year. That's hardly 75% built out.
https://www.daybreakutah.com/whats-happening/other/daybreak-development-plans-2019/

There's still a lot of land on the west side. It's going to take a lot more than 5-10 years to build it all out, especially when there are large prospective master planned communities that haven't even started construction yet.

I second this. Stenar, it's going to take way more than 5-10 years to fill in the valley.

Denvergotback · #**5425** Posted **May 30, 2019, 4:28 PM**

When we talk about filling in the valley, are we talking about just the Salt Lake valley or the Salt Lake, Utah valley plus Ogden area as a whole?

If as a whole, I can't see that filling in completely in quite a while, more than 20 years... maybe way more than that.

If we are talking about only Salt Lake valley (which I'm not familiar with what is allowed to build on) but west of the airport seems to be a lot of empty land.

Always Sunny in SLC · #**5426** Posted **May 30, 2019, 5:29 PM**

Quote:

Originally Posted by Denvergotback

When we talk about filling in the valley, are we talking about just the Salt Lake valley or the Salt Lake, Utah valley plus Ogden area as a whole?

If as a whole, I can't see that filling in completely in quite a while, more than 20 years... maybe way more than that.

If we are talking about only Salt Lake valley (which I'm not familiar with what is allowed to build on) but west of the airport seems to be a lot of empty land.

They are talking about Salt Lake Valley or County more specifically. There are about 40,000 acres of developable land left. It looks like more, but the rest is either being used for industrial uses such as mining (Kennecott/Rio Tinto), ATK aerospace and Hexcel Corp. Then you have wetlands which is what surrounds the airport and finally federal and state lands that are off limits. The mountains, lakes, wetlands and industrial uses create some pretty good de facto urban growth boundaries.

Always Sunny in SLC · #**5427** Posted **May 30, 2019, 5:38 PM**

Quote:

Originally Posted by Orlando

I second this. Stenar, it's going to take way more than 5-10 years to fill in the valley.

It is anyone's guess how long it will take to develop those remaining 40,000 acres because it depends on what assumptions you make doing your calculations such as household formation growth in SL County versus Utah and Davis Counties, future zoning density limits, nimbyism, what percent of the land will the residential versus roads, commercial, industrial, government, etc.

I could easily see both scenarios of long or short build out timelines, but to Stenars point the Wasatch Front is already 50,000 units short of existing demand (at least at last calculation by Kem Gardner Institute) and that we are adding 10-15K to that each year in demand.

Also another thing to consider is we are already basically built out in SL County because there are already more people competing for units than are available to purchase, so that is effectively built out. Those people then continue to wait or purchase in another county. It may be decades until we are officially built out, but long before that (now for instance) it will feel like we are.

Stenar · #**5428** Posted **May 30, 2019, 6:06 PM**

Quote:

Originally Posted by Always Sunny in SLC

They are talking about Salt Lake Valley or County more specifically. There are about 40,000 acres of developable land left. It looks like more, but the rest is either being used for industrial uses such as mining (Kennecott/Rio Tinto), ATK aerospace and Hexcel Corp. Then you have wetlands which is what surrounds the airport and finally federal and state lands that are off limits. The mountains, lakes, wetlands and industrial uses create some pretty good de facto urban growth boundaries.

This "40,000 acres" figure seems to be old. There are numerous articles citing it, which are several years old.

Always Sunny in SLC · #**5429** Posted **May 30, 2019, 7:42 PM**

Quote:

Originally Posted by Stenar

This "40,000 acres" figure seems to be old. There are numerous articles citing it, which are several years old.

It is comes from estimates from Kem Gardner and while it is several years old it is still largely accurate. The low end of the current estimates are 30-32K acres available.

Orlando · #**5430** Posted **May 31, 2019, 12:01 AM**

Quote:

Originally Posted by Denvergotback

When we talk about filling in the valley, are we talking about just the Salt Lake valley or the Salt Lake, Utah valley plus Ogden area as a whole?

If as a whole, I can't see that filling in completely in quite a while, more than 20 years... maybe way more than that.

If we are talking about only Salt Lake valley (which I'm not familiar with what is allowed to build on) but west of the airport seems to be a lot of empty land.

Just Salt Lake Valley.

Utah_Dave · #**5431** Posted **May 31, 2019, 1:20 AM**

Quote:

Originally Posted by Always Sunny in SLC

It is comes from estimates from Kem Gardner and while it is several years old it is still largely accurate. The low end of the current estimates are 30-32K acres available.

Does anyone have the time to map the rough area that is still able to be be developed?

DMTower · #**5432** Posted **May 31, 2019, 1:45 AM**

Quote:

Originally Posted by Stenar

Agreed. Posts with multiple photos need to be hidden with a spoiler tag.

Agree as well, as long as there's big bold lettering stating there are pictures.

Blah_Amazing · #**5433** Posted **May 31, 2019, 3:03 AM**

Quote:

Originally Posted by airhero

Whatever the current plans, it also says on the Daybreak website they've built over 5000 homes and plan on 20000 homes at full build out in an article dated March of this year. That's hardly 75% built out.
https://www.daybreakutah.com/whats-happening/other/daybreak-development-plans-2019/

There's still a lot of land on the west side. It's going to take a lot more than 5-10 years to build it all out, especially when there are large prospective master planned communities that haven't even started construction yet.

From the March 2019 article Airhero shared from Daybreak's website, it sounds like the downtown Daybreak 'Town Center' is still actively part of the overall plan and it also sounds like they are just starting on projects within the area. Here is a quote from the article:

Quote:

Additionally, “Downtown Daybreak”—the 400-acre town center area adjacent to the Mountain View Corridor and the TRAX light rail line—is also beginning to flourish with a variety of new urban style housing options from Sego Homes, Destination Homes and Garbett Homes as well as new amenities planned to be developed in the very near future.

The article also goes on to discuss a shift in Daybreak towards commercial office/ retail, which is in line with what a downtown may entail. While it isn't going to be exactly like the original plan, for the most part, Daybreak has stuck to the plan fairly consistently up to this point.

Stenar · #**5434** Posted **May 31, 2019, 3:13 AM**

Quote:

Originally Posted by Blah_Amazing

From the March 2019 article Airhero shared from Daybreak's website, it sounds like the downtown Daybreak 'Town Center' is still actively part of the overall plan and it also sounds like they are just starting on projects within the area. Here is a quote from the article:

"...a variety of new urban style housing options from Sego Homes, Destination Homes and Garbett Homes..."

All of these homes that they mention from Sego, Destination, and Garbett are currently being built on the eastern side of the Village Center. No homes are being built where the Town Center is on the map.

Blah_Amazing · #**5435** Posted **May 31, 2019, 4:54 AM**

Quote:

Originally Posted by Stenar

All of these homes that they mention from Sego, Destination, and Garbett are currently being built on the eastern side of the Village Center. No homes are being built where the Town Center is on the map.

Perhaps. However, as the full quote discusses, the overall 400 acre downtown/town center is still in the works. This includes an overall shift towards commercial as the developments move forward. Since the article is only two months old, I trust the accuracy of the statement. Like I said a day ago, I would really like to see the information you had earlier that said it wasn't happening.

So again, for now at least, it looks like the original plan is still in place.

Stenar · #**5436** Posted **May 31, 2019, 4:59 AM**

Quote:

Originally Posted by Blah_Amazing

Perhaps. However, as the full quote discusses, the overall 400 acre downtown town center is still in the works. This includes an overall shift towards commercial as the developments move forward. Since the article is only two months old, I trust the accuracy of the statement.

So again, it looks like the original plan is still in place.

FYI: the original Town Center defined on that map is only 100 acres, so it seems like they've combined a larger area into the Town Center.

Blah_Amazing · #**5437** Posted **May 31, 2019, 5:05 AM**

Quote:

Originally Posted by Stenar

FYI: the original Town Center defined on that map is only 100 acres, so it seems like they've combined a larger area into the Town Center.

I suspect you may be correct in that, which may be why the article discusses the housing projects you cited as part of the overarching Town Center.

gusam26 · #**5438** Posted **May 31, 2019, 7:10 PM**

https://youtu.be/r5F90jOmk2E

Blah_Amazing · #**5439** Posted **May 31, 2019, 11:05 PM**

Quote:

Originally Posted by gusam26

https://youtu.be/r5F90jOmk2E

This project looks so cool!

Viperlord · #**5440** Posted **Jun 1, 2019, 5:58 AM**

http://www.mckinleycp.com/investments/developments#portfolio
378 West 300 South SLC

THE OLIVE 120
McKinley's Salt Lake City partner, CW Urban, will construct this 120-condominium unit project adjacent to Pioneer Park in downtown Salt Lake. This infill project will utilize a podium construction type and is expected to break ground in the second half of 2019. McKinley committed $5MM to finance the land acquisition and construction. The Olive will also benefit from construction financing from the redevelopment agency of Salt Lake City.
April 10, 2019

INVESTMENT TYPE
Preferred Equity

RESIDENTIAL PRODUCT
120 condominium units

LOCATION
Salt Lake City, UT