Salt Lake MSA Development Thread

[Future Mayor]

It isn't only the SLC metro that this is occurring, it is happening in nearly every metro in the nation. I am however not defending it by any means. One issue is that, while yes there is a lot of sq footage out there, the need has come in waves and as that demand has occurred the need has been met. It is more affordable to build a 3-12 story office building and fill that space as opposed to building a 20+ story office building in downtown. Pre-leasing #'s have to be greater and the cost of land is greater. I agree that something needs to be done to attempt to curb it, however I think it will naturally take it's course. As transit increases in the metro, all leading to DT, and as housing continues to increase DT, there will be a greater desire and need for businesses to locate in the DT area, and that will increase the need for more office space. Businesses like to locate near their potential work base or as near to as possible. As transit increases and downtown residential numbers increase the amount of workers that can access downtown will increase. I honestly expect another 20+ story tower announcement in SLC within the next 2 years.