Rare land development opportunity in a great transitional area just west of growing and vibrant downtown Salt Lake. This area is the next place to pop and gentrify for SLC. The Salt Lake area is booming with almost 10,000 apartments being build but we still have a shortage of almost 6,500 affordable units. This project takes advantage of these unique market dynamics by creating efficient and affordable for sale (or for rent) units within hundreds of feet of the public transportation TRAX line which connects the entire valley together by taking advantage of loose zoning rules in the TSA-UN-C zone. This project is fully approved through the TSA expedited approval process and is ready to have full constructions docs completed and be submitted to the building dept so you can break ground quickly. All land due diligence has also been completed (soils, survey, topo, site plan, utility plan, drainage and grading, CC&R's and phase 1) and concept floor plans and elevations have also been completed. This project has 21 units with a mix of studios and 1 bedroom units. You can choose to sell each unit individually (condo) or keep the project long term to cash in big as a long term hold. This is the perfect type of project with affordable end for sale pricing and rent amounts to hedge against any type of unforeseen slowdown in the future. Comps in this price range are flying off the self in a matter of days because this price range is so hard to find right now. Full OM deck is attached to the listing with full details. Full due diligence packet can be provided to serious buyers upon inquiry.
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