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This is Fred Ball for Zions Bank, speaking on business.
Traverse Mountain, Utah. Have you ever heard of this community? Probably not, but I can promise you, you will!
Developer Steve Christensen has big ideas for a brand new community on an undeveloped swath of open space along I-15 in Utah County. Eventually the new city will be bigger than its neighbor Lehi.
The project began in January as building commenced on phase one of Triumph's Technology Park. Eventually, there will be over 4 million square feet of office buildings. One of the buildings, which is currently under construction and can be seen from the freeway, will have more than 200,000 square feet of office space.
The offices will offer tenants advanced features in technology, including speedy Internet access and telephone fiber-optic networks. Traverse Mountain will use the high-tech corporate park as a key element of its marketing efforts to create a needed and convenient environment for living.
Over 3,500 homes are included in the master plan. There will be condominiums, apartments and homes priced for first-time buyers such as newlyweds and singles. A series of mid-level cost homes will be built for those with larger families and higher incomes.
There will be retailers, grocery stores, restaurants, schools and libraries. In the future, a station will be included for commuter rail that will take residents into Salt Lake City or Provo. Infrastructure improvements and work on the project have commenced. And over 600 residential lots have already been sold, according to Christensen.
About 1,200 acres, more than a third of the project's size, will be set aside as a nature conservancy, protected in perpetuity from future development. There will be nature trails and bike paths throughout the project.
Developers are calling Traverse Mountain "The millennial master planned community." It may take 25 years to complete the entire project, but optimism is high for its need and acceptance.
Utah County continues as one of the fastest growing sections of this country.
For Zions Bank, I'm Fred Ball. I'm speaking on business.