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PROVO — Five Utah County mayors voiced their optimism and concerns looking into the future of some of the fastest growing communities in the state during a Utah County Commercial Real Estate Symposium on Tuesday.
The symposium featured a panel discussion with mayors Bert Wilson of Lehi, Richard Brunst of Orem, Mike Daniels of Pleasant Grove, John Curtis of Provo and Richard Moore of Payson.
In addition to opportunities for real estate development in the county, the discussion delved into the challenge of balancing tradition with innovation, and shifting to new values in an area that's expected to gain as many as 840,000 residents by 2050.
But the overall outlook is positive for businesses looking to open and expand in Utah County, "the center of gravity for economic development in the entire Intermountain West," according to Brandon Fugal, chairman of Coldwell Banker Commercial Advisors.
"As we bring in people from all over the country, they are amazed at the amount of cranes on our skyline that just keep popping up week to week," said Fugal, who moderated the forum. "And it's not just in one municipality. It's across the board."
As we bring in people from all over the country, they are amazed at the amount of cranes on our skyline that just keep popping up week to week.
–Brandon Fugal, Coldwell Banker Commercial Advisors
Utah County's unemployment rate sits at 3.3 percent, just below the statewide rate of 3.5 percent and even further below the national unemployment rate of 5.6 percent, he said.
Looking forward, city leaders say the generational shift and a subsequent transition to new values creates some resistance to change for many community members.
Daniels said the transition poses unique challenges, such as embracing new values without abandoning those that have been "tried and true", while respecting individual preferences of community members.
"We're experiencing a change from that of the parent to the child. We see it in the type of consumption, the type of debt, the type of risk taking, the immediacy in what is desired," Daniels said. "It's neither good nor bad. It's different. But when these strong, strong opinions start hitting the (city) council and the mayor's office, what you end up with is a divided population.
"I think this is the struggle that we face today: How do we bridge the gap from where we've been to where we need to go and do it in a peaceful way?" he said.
Curtis cited last year's debate around the expansion of Utah Transit Authority's bus rapid transit system through Provo and Orem as an example of growing pains in the area.
"People came from all over to resist that project because it brings change and a different way of doing things," Curtis said. "They're quick to say, 'We don't need that road,' and they're right. But we will need that road, and if we don't set it aside when we don't need it, then it will be very difficult to do later on."
A similar debate surrounds multifamily housing development, which critics say can increase crime and detract from traditional neighborhoods with single-family housing. But the five mayors said multifamily housing will help facilitate economic growth in the region, especially among millennials.
"I think it's the way of the future," Wilson said. "It's going to happen, and I think it's one of those adaptations that we're all going to have to learn to live with."
Utah County's real estate infrastructure beckons commercial growth and expansion. Wilson said Lehi now has a "powerline to nowhere" and soon will have a "sewer line to nowhere" in anticipation of future growth.
He said the city is about one-third of the way built out, but is prepared for 6,000 new homes as well as medical and business facilities.
Other notable infrastructure in the county include Google Fiber, a regional airport, reliable water supplies, an educated workforce and family friendly neighborhoods, according to Curtis.
But throughout the county are areas where infrastructure is overdue for upgrades, due in part to how long ago cities were established. Daniels said that as more businesses come to the area, they bring with them the resources and the "drive" to improve existing facilities.
He said it requires a partnership between community members and businesses that bring revenue and a stronger tax base "to provide and improve the infrastructure not only for themselves, but for the people."
