City Creek condos go on sale Monday

Published: Saturday, Feb. 12 2011 1:51 a.m. MST

View of City Creek from Promontory on South Temple, the tallest building at City Creek. The condos will go on sale Monday, Feb. 14, 2011.

City Creek Reserve Inc.

SALT LAKE CITY — The downtown skyline in Utah's capital city is getting an addition. Units for the City Creek project's tallest residential development will officially go on sale on Monday.

Promontory on South Temple will house 185 units in its 30 stories — representing the largest residential structure at the City Creek project.

Prices for studio units will start at $145,000, one-bedroom units at $255,000, two-bedrooms units from $367,000, while premium and penthouse units will start at $1.5 million. The first residents of the new development are expected to move in this spring.

City Creek is a 23-acre mixed use development that will include residences, retail and office space. The retail center will anchor the property's master plan developed by City Creek Reserve Inc. — a real estate arm of The Church of Jesus Christ of Latter-day Saints.

Last year, the first City Creek residents moved into Richards Court — two 10-story buildings located at on South Temple. The Regent at City Creek, a new 20-story residential tower located on 100 South between State Street and Main Street, is slated for completion later this year.

"It's safe to say that we have moved into the completion phase of the project," said Dales Bills, spokesman for City Creek Reserve Inc.

Bills said about 65 percent of Regent’s 150 units are already reserved, while rental units on Main Street are scheduled to begin occupancy this summer. When fully completed, City Creek will house approximately 800 households.

Bills said that while the economy has likely had an impact on sales of some of the condominium units, the overall project is on schedule and should be ready for its official unveiling in spring of next year.

"This year, we'll see completion of residential properties and on March 22, 2012, we’ll see the grand opening of the retail center," Bills said. "So we're nearing the finish line."

E-mail: jlee@desnews.com

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