A private development company in the Salt Lake City area retained Anderson Economic Group to measure the potential opportunity for a proposed resort community to be located on an existing golf course.
The location for the mixed-use project is a small bedroom community in the Salt Lake City market. The proposed resort community would be refurbished, and include low-density residential areas for single-family homes (likely to be second-homes) which would have views of the golf course and overlook a river. Plans also called for multi-family, semi-luxurious condominiums, and a hotel for visitors.
Because of the project’s uniqueness in concept and location among several mountain summits and peaks, we began with an analysis of comparable resort area markets. Following this, we took a complete inventory of for-sale houses in selected comparable markets to qualify the results of our supply and demand analysis.
Specific recommendations for the development of new residential units included appropriate price points and sizes for multi- and single-family units, luxury second-homes, and new boutique hotel.