Utah Real Estate Developers

Utah development focuses on the Wasatch Front, which becomes a large, continuous urban corridor from north of Brigham City to South of Provo. But development, including low density exurban sprawl, also marks the State’s southeastern corner, as places like St.George attract more residents, notably retirees, and experience spill-over from Las Vegas.

The level of residential construction in Utah was nothing short of spectacular in 2003. For the first time, the value of residential construction exceeded $3 billion. The demand for new homes was driven almost entirely by the lowest mortgage rates since the 1950s. New home construction is highly concentrated in Utah, with a few communities capturing most of the new construction activity. Half of all new home construction in 2003 was located in Salt Lake and Utah counties.

New nonresidential construction increased by $100 million in 2003 to $1 billion. Wal-Mart has been aggressive in building new Supercenters, as well as a new distribution center in Tooele County. Other large nonresidential projects include: Current Creek Power Plant, a gas fired megawatt electric power plant ($200 million); University of Utah Orthopedic Center ($19 million); the Stampin Up headquarters building in Riverton ($17.5 million); Logan City jail ($13 million) and an office building in Sandy City ($12.8 million)