Quote:
Originally Posted by TheGeographer
Does SLC have less long-term holders compared to Austin, Nashville, Miami, Denver etc? Cities where high rise development has continued and in some cases even accelerated despite the current interest rates? If so, how can we attract more long term holders assuming there is a demand.
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In general there is far more development capital in those cities, yes. And it follows that there will be more groups pursuing build-and-hold strategies. But the main thing that will attract this kind of capital to Utah are low barriers, availability of land, and high demand. SLC is great for the first two, but needs to catch up on the latter. There is some latent demand, as we have seen, but until we have a stronger corporate presence, a populace that wants to live and work downtown, and the high-paying jobs to support it, demand will grow in SLC very slowly. This applies to all asset classes and service-related businesses.