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SL Trib: Despite downturn, LDS Church condos at City Creek are finding buyers

Interested in a penthouse unit in the LDS Church's downtown Salt Lake City condo development?

Even if the seven-figure price tag on the top floor of The Regent doesn't deter you, you're still out of luck. All four penthouse units are already spoken for, and so are a growing number of units on other floors.

In fact, more than three dozen units in The Regent have been reserved, with 54 units in the first phase still available. Realtors say that's pretty good for a 20-story project priced from about $300,000 to $1.7 million. The 150-unit project will be completed in phases as enough units are pre-sold.

Even in the worst economic downturn since the Great Depression, The Church of Jesus Christ of Latter-day Saints is having a fair amount of success selling condos in its downtown City Creek project, which features not only residences but retail space and offices.

Church spokesman Dale Bills isn't expansive when discussing the condos, other than to say that interest has been good given the economic climate. Neither the individual units nor the project itself are listed on the Wasatch Front Regional Multiple Listing Service. Bills is mum about who is buying the condos -- and who can afford them -- but local Realtors say it's probably a mix of in-state and out-of-state buyers.

Read the rest of this story at sltrib.com
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