Now that all of the government requirements have been met, the next step toward creation of the Traverse Mountain planned community south of Draper will be getting the money to start construction, according to a representative of the company developing the project.
Ed Grampp of the Tucson, Ariz.-based company said the first phase will be construction of a road to Traverse Mountain that includes part of Salt Lake and Utah counties, a hotel and an 18-hole golf course. Grampp said the hotel will cost $50 million and the utility lines and road will cost another $50 million.Grampp told the Board of Governors of the Salt Lake Area Chamber of Commerce Tuesday that it has taken two years to solve the political problems associated with the project. The latest hurdle was the December annexation by Draper of 1,200 acres in Salt Lake County and 4,800 acres in Utah County.
He said no work on the project will be done until the money is available because the company wants to be proud of the project and not have it wind up as other similar projects have.
After the $100 million is raised and the first phase is completed, the next phase will be selling parcels of land to developers who will build the housing units.
At the same time the company is trying to find financing for the project, planning of the hotel and golf course will move ahead.