A Project Moves Into The "Win" Column

On today’s show we are talking about a project of ours that recently completed the zoning approval process.

This is a 20 acre site in a suburb of Salt Lake City called Brigham City. The property itself is situated next to one of the two highway interchanges from Interstate 15 into Brigham City. Immediately across the street is a new Walmart Super Center.

The total site plan consists of the Marriott Town Place Suites hotel, 120 apartments, 50 townhomes, and several buildings of flex multi tenant industrial. All of these products have to have the requisite amount of parking. It is the surface parking that ultimately determines the density that can be achieved. At one point in the design process we had proposed a larger number of apartments. But this has to be scaled back to meet the parking ratios required for a viable project.

Throughout the process, the economic outlook in the area accelerated. One of the main contributors is the newly announced Inland port.

It took a few months longer than we expected, but we have an amazing project that we expect to create a lot of value for our investors. To be clear, we are not soliciting for investment and just sharing our story about this project. This project was funded over a year ago.