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City Creek condos go on sale Monday

By Jasen Lee | Posted - Feb. 11, 2011 at 6:33 p.m.



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SALT LAKE CITY -- For sale: 185 condominiums with great views and access to shopping, eating, and cultural events in the heart of downtown Salt Lake City.

Welcome to Promontory on South Temple.

"This is the tallest residential building in the state of Utah," said Mark Gibbons, president of City Creek Reserve.

The 30-story building is located at 99 W. South Temple, and sales of the units officially begins Monday. And Gibbons says there's already plenty of interest. "In lower priced units and the very high priced units, it's across the board in terms of interest," he said. There are prospective buyers in Utah and from other states.

Promontory on South Temple offers seven different floor plans: studio, 1-, 2- and 3-bedroom models ranging in size from about 625 square feet to more than 2,000.

Some of the finishings include wood and carpeted floors, granite, tile, and various types of woods and fixtures.

"The quality of the construction is in excess of anything that you would find anywhere in the country, in terms of the materials themselves," Gibbons said.

The higher you go, the better the view. It just depends on which direction you like.

"Do I want to see Mt. Olympus? Do I want to see the west side of the valley and the sunsets? Do I want to see Temple Square?" said Gibbons. "Some units have the luxury of seeing several of those."

The top five floors feature the premium and penthouse units. They will stay in an unfinished, drywall state, giving the buyers the choice of how to decorate.

The prices at Promontory range from $145,000 for the studio units, $255,000 for one-bedroom units, $367,000 for two-bedrooms units, and up to $1.5 million for the penthouse condos.

"We're very sensitive to pricing in this economy, and we've wanted to make these units available to a broad market," Gibbons said, "so we have a pricing structure that really hits all components."

People could begin moving in within the next 30 days.

Promontory on South Temple is the latest milestone in the massive City Creek project. City Creek is a 23-acre mixed use development that will include residences, retail and office space. The retail center will anchor the property's master plan developed by City Creek Reserve Inc. — a real estate arm of The Church of Jesus Christ of Latter-day Saints.

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Story written by Keith McCord with contributions from Jasen Lee.

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