Home News Here are Salt Lake City’s priciest properties and why they may never be sold

Here are Salt Lake City’s priciest properties and why they may never be sold

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These are Salt Lake City’s most expensive real estate chunks, and in some ways belong to everyone.

The city’s 10 most expensive real estate properties are all public land and are worth at least $4.8 billion in market capitalization as assessed by Salt Lake County this year.regional new international airporttwo hospital systems, new prison And government seats and all gatherings make the list.

The quirks of Utah’s history have given many of these lucrative parcels some odd boundaries, giving the buildings they contain an element of whimsy and, in turn, their gross valuations.

What they are, where they are, and who owns them all say a lot about the Utah capital.

#1 — Salt Lake City International Airport, 37.6 acres, $835.3 million

(Trent Nelson | Salt Lake Tribune) Travelers at Salt Lake City International Airport on Friday, Sept. 23, 2022.

The glitzy new airport terminal, owned by Salt Lake City, debuted two years ago with its $4.1 billion first phase. State officials are calling it the largest public works project in Utah history.

Of that total valuation, almost all of which is the terminal, at $829 million, the 37-acre rectangular lot is valued at approximately $6.3 million.

Dubbed the “transport cathedral,” the hub is the 21st busiest in North America as travel continues to pick up amid the recovery of the pandemic.New interiors, concourses and parking lots in recent terminals got a relatively high rating Passengers praised security checkpoints, baggage claim, and improved shopping and dining outlets.

However, the facility continues to be unclean. relatively long walk Between the concourses, officials said, new tunnel opens 2024.

No. 2 — University of Utah, East Campus, 137 acres, $695.8 million

(Francisco Kjolseth | The Salt Lake Tribune) Eccles Student Life Center and Kahlert Village on the University of Utah campus in Salt Lake City, Thursday, October 27, 2022.

The first of four entries in the city’s 10 most valuable properties belonging to Utah’s flagship university, this swath is home to much of the Huntsman Center and all of Kellert Village, the Eccles Student Life Center and Rasonde Studios. , and several other U. buildings to its west. Fort Douglas TRAX Station. The property also extends north beyond Wasatch Drive to include the Eccles Broadcast Center and adjacent residential lots.

Records show that this oddly shaped group of six consecutive lots was first formed on paper in 1896, nearly 50 years after the founding of the United States. The building is valued at approximately $614.3 million and the land at approximately $81.5 million.

The US parcels on this list stand out for their influential presence as landowners. Also, as a public, non-profit educational institution, the US is exempt from property taxes. Also, land use is not controlled by the city and has its own policies regarding planning and zoning of a total of 1,534 acres.

No. 3 – University of Utah, West Central Campus, 59 acres, $602.8 million

(Trent Nelson | Salt Lake Tribune) People walk on the University of Utah campus in Salt Lake City on Monday, January 10, 2022.

This horizontal U-shaped building spans the center of the campus, with the U.’s Merrill Engineering Building on the north end and Kennecott Mechanical Engineering, Sutton Building, Browning Building, University Campus Stores, and A. Ray Building on the west. Olpin Student Union and part of the Marriott Library south of it.

County records show construction of the lot dates back to 1970. Again, the education and support buildings in this cluster of four contiguous parcels account for the bulk of its value, $567.7 million compared to his $35.1 million for the land. Worth it. The property also has several acres of green space and pedestrian walkways that run through the campus.

No. 4 — Utah Correctional Facility, 246 acres, $577 million

(Chris Samuels | Salt Lake Tribune) Prison officials move into the new Utah State Correctional Facility in Salt Lake City, Wednesday, June 22, 2022.

Utah’s new prison, located on 246 acres west of the airport, is tremendous as both the largest and westernmost property in the city’s top 10 most valuable.

The site around the Great Salt Lake cost at least $1 billion to acquire, prepare and build, according to state lawmakers voted in 2015 Closing and demolishing Draper’s Jail to provide suburban alternatives known as new public developments pointDemolition of the old prison is scheduled to begin next week.

The new 1.3 million square foot building is worth $555.3 million and the land it occupies is about $21.7 million, according to records.

Nearly 2,400 inmates were moved from Draper to new correctional facilities in July. While we hope modern prisons can benefit from better management and planning, the early months have been plagued by understaffing, administrative problems, security concerns with security guards, and prison clouds. rice field. hungry mosquito It spawns in the surrounding wetlands.

No. 5 — Salt Palace Convention Center, South End, 9.7 Acres, $451 Million

(Francisco Kjolseth | The Salt Lake Tribune) The Salt Palace Convention Center in Salt Lake City, taken on Thursday, September 16, 2021.

The Purcell boundary divides the downtown Calvin L. Rampton Salt Palace Convention Center into several separate lots, with this southernmost lot excluding the new lot. 26-story Hyatt Regency Salt Lake Hotels at West Temple and 200 South are the best value.

A portion of the Salt Lake County-owned convention center on this lot accounts for a total valuation of $432.9 million, with a land value of $18.1 million.

The northern lot and some of the buildings are the 19th most valuable in the city at $180 million.

Officials hope the newly opened luxury hotel, which features two large ballrooms, large meeting spaces and a restaurant, will enhance the city’s status as a convention destination.

No. 6 — University of Utah, President’s Circle, 44.2 acres, $417.6 million

(Trent Nelson | Salt Lake Tribune) President’s Circle at the University of Utah Campus in Salt Lake City, Thursday, October 27, 2022.

West of University Street and south of 100 South on the U Campus, this rectangular lot contains at least 12 buildings surrounding Presidents Circle, from Gardner Hall at the northern end to the Roy W. Simmons and Elizabeth E. Simmons Pioneer Memorial Theater and Alice. It contains the main building. Sheets Marriott Center for Dance to the south.

This equates to more than $391.4 million for buildings on land worth approximately $26.3 million.

No. 7 — Veterans Affairs Salt Lake City Health System, 80.8 Acres, $380.9 Million

(Francisco Kjolseth | The Salt Lake Tribune) The U.S. government-owned lot that holds the George E. Warren VA Medical Center and related buildings taken Thursday, October 29, 2022.

Although close to the United States, the Veterans Affairs Hospital site and adjoining large facilities belong to the United States government and are centered around the 121-bed George E. Warren Veterans Affairs Medical Center.

It includes more than a dozen buildings dedicated to veterans’ medical care, research, housing and administration, worth at least $310.5 million on $70.4 million worth of land.

No. 8 — University of Utah, Rice-Eccles Stadium, SJ Queenie School of Law, 33.6 acres, $309.6 million

(Leah Hogsten | The Salt Lake Tribune) The University of Utah will host San Diego State University at Rice-Eccles Stadium in Salt Lake City on September 17, 2022.

Located on the U. Campus, the property is two contiguous lots separated by South Campus Drive, home to much of Rice-Eccles Stadium, its extensive parking lot, and the Olympic Cauldron Legacy to the south along 500 South. There is a plaza.

To the north are the US SJ Queenie College of Law, the Einar Nielsen Fieldhouse, the Thatcher Building of Biochemistry and Biophysical Chemistry, and part of the John and Marsha Price Arts Building.

Not surprisingly on that roster, the buildings make up the bulk of the $289.6 million parcel’s value, with the land at $20 million.

As such, the value of US-owned real estate in the top 10 reaches $2 billion, or about 42% of the total $4.8 billion.

No. 9 — Primary Children’s Hospital, 10 acres, $286.9 million

(Rick Egan | The Salt Lake Tribune) Intermountain Primary Children’s Hospital, Wednesday, Aug. 11, 2021.

The 289-bed Children’s Emergency Hospital, a nonprofit affiliated with the University of Utah School of Medicine, celebrated its 100th anniversary in May. It is a member of the nonprofit Intermountain Healthcare’s network of hospitals, including his LDS hospital on Ave.

Records show that the United States owns much of the land occupied by hospital facilities, worth approximately $38 million. The building at that location is valued at $275 million.

No. 10 — Utah State Capitol, 20 acres, $262.6 million

(Trent Nelson | Salt Lake Tribune) Protesters gather at the Utah State Capitol in Salt Lake City after the U.S. Supreme Court overruled Roe v. Wade Friday, June 24, 2022.

Consecrated in 1916, Utah’s Historic Government Building occupies a portion of land overlooking the Salt Lake Valley and holds the Utah State Senate and House of Representatives, as well as the offices of the Governor, Lieutenant Governor, and Attorney General. I’m here.

The boundary also spans the West Capitol Building, the East Senate Building, and another State Capitol building to the north. Records show that these structures are worth a total of $239.1 million and the land they sit on is about $23.5 million.

Next in the list:

• George S. and Dolores Dore Eccles Theater, 1.7 acres, $225.3 million — This gorgeous 1,200-seat Broadway-style performance hall in downtown is jointly owned by Salt Lake City, its Redevelopment Authority, and Salt Lake County.

• 400 West Apartments, 5.9 acres, $215 million — This multi-family home at 255 N. 400 West, next to Salt Lake Hardware, is Salt Lake City’s most valuable private property owned by Oakmont Properties, California.

• Amazon fulfillment center, 70.2 acres, $210.7 million — Opening in 2021, this 150,000-square-foot logistics center at 777 N. 5600 West is used for same-day delivery of hundreds of thousands of items sold by online retail giants.

Well Fargo Center, 3.5 Acres, $209.3 Million — This privately owned lot at 299 S. Main features the iconic wedge-shaped Wells Fargo Tower and its eastern outbuildings along Galivan Avenue.

• University of Utah, Research Park, 127 acres, $205.9 million — Located in U.’s Research Park at 480 S. Wakara Way, these seven lots include a dental and orthopedic center.

• LDS Conference Center, 10 acres, $205 million — Huge granite meetinghouses at the Main and North Temples, owned by Utah’s predominant faith, The Church of Jesus Christ of Latter-day Saints, now face the religion’s iconic six-spire temple . undergoing a large-scale transformation.

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