In The News
Land Development in Salt Lake City
Real Estate in Salt Lake City is booming, and that could be the understatement of the century.June, 2022
The Kem Gardner Institute says that we have a shortage of over 44,000 housing units, and that problem won’t be solved for years to come. The demand for developable land in Salt Lake is directly tied to the need for more housing, and we are seeing land prices skyrocket as a result of this pent-up demand. Developable land in Salt Lake is going for $150-$200/Square Foot, depending on the density (The maximum number of units that are buildable at the site.) That is a 100% increase from just a couple of years ago. Out-of-town investors, who see value and potential in our quickly changing Salt Lake City market, are a key driver in these ever-increasing land prices and the future development of our market.
The Future of Land in the Salt Lake ValleyDevelopable land in the Salt Lake Valley is becoming increasingly scarce. In the past, much of the developable land was located on the outskirts of the city, but as the population has grown, that land has been developed. The current trend is for developers to find and assemble infill land, or repurpose previously developed buildings as close to Salt Lake City as possible. This has several implications for the future of Salt Lake City. First, the cost of developable land will continue to increase as demand grows. Second, the city will need to invest in infrastructure such as roads and utilities to accommodate new development. Finally, the city will need to carefully consider its zoning laws to ensure that new development is compatible with existing neighborhoods. As Salt Lake City continues to grow, these issues will become increasingly important. It is projected that the population in Salt Lake City, Utah will continue to increase in the coming years. As the population grows, there will be an ever-increasing need for developable land. In order to meet this demand, Salt Lake City must carefully plan for future land development. The city has a finite amount of developable land, and it is essential that this land be used wisely. Future development must be carefully planned in order to ensure that it is sustainable and meets the needs of the community. With thoughtful planning, Salt Lake City can continue to grow and thrive for years to come. When it comes to land development deals, Jody Jones with Align Commercial Real Estate has the knowledge and experience to get the job done. With years of experience in the Salt Lake Valley and a solid understanding of all of the challenges mentioned above, Jody has the knowledge, experience and proven track record for finding land for building projects, negotiating deals, and getting projects off the ground. Whether you’re looking for land for a new office park or a residential development, Jody has the expertise to find the perfect location that meets your needs.
Contact Jody at 801-577-2175 today to learn more about her land development services.
Contact Jody Jones
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Jody Jones, CCIM
1075 East Hollywood Avenue
Salt Lake City, Utah 84105
AREAS WE SERVE:
Salt Lake City
Downtown | 9th and 9th | Granary District
Sugarhouse | Cottonwood Heights | Millcreek | Murray | West Valley | South Jordan