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Weak market delays NSL
by Jenniffer Wardell
Aug 27, 2008 | 356 views | 0 0 comments | 4 4 recommendations | email to a friend | print
NORTH SALT LAKE ó Eaglewood Village has spent the last several months looking like an empty patch of dirt, and it may keep looking that way for a while longer. The date for vertical construction on the developmentís upper homes, the first area scheduled to be worked on, has been pushed back a few months to sometime in October. Late summer and early fall construction, which is when Compass Development initially hoped to start working on the homes, is being occupied by road, curb and gutter work. ##M:MORE##

ìThe biggest thing is that itís just been a crazy market. Thereís less of a rush to get the homes up,î said Ben Lowe, a principal at Compass Development. ìA few months off isnít so far, especially with a big winter slowing things down.î

The lower level of the development, which is set to include the office and retail buildings, may take even longer. After an initial construction start date of spring 2009, Compass is now going ahead without a fixed date.

ìConstruction is going to depend on presales and preleasing,î said Lowe.

Groundbreaking on the development was in early December 2007, and early reports in the newsletters found on the Compass Development website predicted vertical construction dates as early as spring 2008. Despite the slowness, however, construction on the site has continued without pause.

North Salt Lake is currently in the process of working out a CDA arrangement with the county and other entities that will give Eaglewood a pass on some of its fees and hopefully give the development a financial break.

Currently, county commissioners have signed up to be included in the CDA, and city officials are in the process of approaching the school district about their involvement.

ìThe school district is important,î said North Salt Lake City Manager Collin Wood during a recent council meeting. ìIf they come, others will come. If they donít, others wonít.î



jwardell@davisclipper.com
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