Real Estate in the Salt Lake area is still a good buy. You may ask how that is when every media outlet is talking about the Real Estate bust.
Yes, we have seen the market here in Salt Lake slow a little bit from the fever pace this summer, but there is still solid demand for housing here in the Valley and in Salt Lake City in particular. Economic conditions here are very strong and the unemployment rate is very low; less than 2.5%. The employment market in the area for the most part has been exhausted and employers need to find these people from outside Utah where economies have slowed.
This means more home buyers moving in and filling the large amount of new homes being built. It most likely means a more stable market than we saw this summer, but positive for both buyers and sellers.
What does this mean for the buyer? Inventory is up in almost all categories above $200,000. In the higher priced markets inventory is much greater than the number of buyers, so now is the time to look for the "true" sellers and get your price.
- Steve Bojack
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Lehi Hotel Could Become
Utah's Tallest Building
Two lakes added to landscape for wakeboarding.
Internationally renown Frank Gehry and his architectural firm created a project scheme planned for 85 acres in north Lehi. The master-planned residential and commercial development design drew statewide attention on Jan. 31 when Brandt Andersen unveiled the scaled representation of the project at the city's senior center.
"I hope the first thing that strikes you is the openness of the development," Andersen said. "You immediately see water and open spaces."
Gehry's 450-ft. skyscraper towers above two lakes, with 72 acre feet of water, and numerous parks on the mock-up made of plexiglass, cardboard and wood blocks. The 45-story, 220,000-square-foot hotel and convention center will have up to 300 rooms, supplanting the state's tallest building to date -- the LDS Church Office Building in downtown Salt Lake, which stands at 435 feet, and the second-tallest building, the Wells Fargo Center, at 422 feet.
Following the straight lines of the dominating high rises on the miniature model, the eye naturally falls downward to the Utah landscape-inspired tumble of buildings intertwined by open green space that also cradles an expanse of water weaving the commercial and residential community together as a whole.
"It's amazing to me that they can get all of those components on an 85-acre site and still provide 23-25 acres of lake, 72 percent open space and adequate parking and have all the functional aspects work," Golden Holt, landscape architect, said. "It's a pretty amazing feat."
"I think it helps by putting the parking underground," Richard Gilbert, Arc Sitio Design Inc., said. "That's what makes it possible," Evan Gilbert, also Arc Sitio Design Inc., said. "That's what is amazing about it."
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