The Church of Jesus Christ of Latter-day Saints has focused more on upscale than affordable when it comes to the housing component of its City Creek development in downtown Salt Lake City.
The LDS Church constructed three condominium projects totaling 425 units and a 110-unit apartment complex in City Creek.
Although some small condos were priced as low as $200,000 or less, most units are listed for much more, easily topping $1 million. Apartment rents range from $1,200 to $1,900 a month, above the Salt Lake County average of less than $800.
The three condo buildings are the twin, 10-story Richards Court towers, across from Temple Square at 45 W. and 55 W. South Temple; the 30-story Promontory tower on the southeast corner of South Temple and West Temple; and the 20-story Regent at 35 E. 100 South.
Because of challenging market conditions prices for homes and condos along the Wasatch Front have been falling since summer 2007 the church's condo sales have been fairly slow.
Officials release little information, other than to confirm that prices on some units have been lowered and that the majority of units are still for sale.
Richards Court opened first, in spring 2010. This project offers some units that provide a "straight-on look" at Temple Square.
In February 2011, the church began selling units in the 30-story Promontory tower. The 185-unit building is the largest and tallest residential structure at City Creek.
To the east of Main Street, the last condo project to be completed was the 20-story Regent at 35 E. 100 South, which has 150 units.
Two other buildings, housing 200 more condos, are planned for City Creek, but construction may not begin for years as the church waits for market conditions to improve.