Estimated read time: Less than a minute
This archived news story is available only for your personal, non-commercial use. Information in the story may be outdated or superseded by additional information. Reading or replaying the story in its archived form does not constitute a republication of the story.
SALT LAKE CITY — Zions Bank announced Tuesday that an agreement has been reached to sell the SunCrest development in Draper to MCO Properties of Fountain Hills, Ariz. Details of the agreement were undisclosed.
Zions Bank acquired SunCrest through a bankruptcy sale in 2008. More than 3,000 homes are planned for the undeveloped portions of the 4,500-acre property, a news release stated.
MCO will work with Zions Bank and Draper city to facilitate the completion and repair of existing improvements left by the previous developer, and to implement a new land plan for the remaining property that would include preservation of key open space and environmentally sensitive areas.
MCO specializes in large mixed-use and affluent residential custom home communities in the southwestern United States. The company has owned and developed resort, golf, residential and commercial properties in Arizona, Arkansas, California, Colorado, Nevada, New Mexico and Texas.
