From Deseret News archives:
SunCrest folks rise above troubles
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However, the community still faces significant challenges. Terrabrook recently defaulted on $58 million in development loans and may pull out of the state. Its offices are still open, but its management has refused to comment on the situation.
Signs saying Zions Bank is the financier of the development dot the neighborhood.
Terrabrook owns the popular market and also a community clubhouse, which is mostly completed but has yet to be opened.
Residents in the area expected the clubhouse to be opened a year ago and don't know what could happen if a new developer purchases the building. They are also concerned about homeowner's association fees, but home values are not likely to change, said Paul Tonks.
Neither the environmental nor the developer issues discourage residents.
"This is an opportunity for metropolitan people really to live in a mountain-type community and still be part of the Salt Lake area," Paul Tonks said.
E-mail: rpalmer@desnews.com
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