By Brittney Sherman
Salt Lake City is the 7th fastest growing area in the United States, ranking higher than Los Angeles, Manhattan, and Chicago in real estate prospects. The Salt Lake City Metro area currently has over 9,000 housing units under construction, 4,500 of which are apartments located in the heart of Downtown. Housing isn’t the only development happening in Salt Lake City. In the last 12-months hotel capacity increased by 1,400 rooms, an increase of 3.9%. Non-operational hotels are also enjoying re-investment, being converted into mixed-use apartment and office projects. While Salt Lake City wrestles with pandemic induced office and industrial vacancy rates like many other large cities, multi-family and data center development continues to stay strong.
Read the full story on CoStar HERE.