947 W Euclid Ave, Salt Lake City, UT 84106

Property Description

An increasingly rare opportunity to acquire a fully entitled multifamily development site in one of Salt Lake City's fastest-transforming urban neighborhoods. 947 Euclid Avenue offers a shovel-ready development opportunity for a 40-unit apartment project with completed architectural plans, engineering, studies, and entitlement work included in the sale. The project was previously approved and is positioned for a developer to reactivate permits and move directly toward construction, dramatically reducing entitlement risk, carrying costs, and time to market. Located within an Opportunity Zone and just minutes from Downtown Salt Lake City, the site sits at the center of unprecedented public and private investment. The property benefits from immediate access to I-15, I-80, TRAX, downtown employment centers, and the rapidly emerging west-side redevelopment corridor. Adding to the long-term investment story, the site is positioned near the newly announced Power District redevelopment and the sports and entertainment district being spearheaded by Ryan Smith and Smith Entertainment Group. These transformative projects are expected to reshape the western edge of downtown Salt Lake City and further accelerate housing demand throughout the surrounding neighborhoods. The approved project consists of a modern six-story apartment building featuring 40 residential units with a thoughtfully designed mix of one- and two-bedroom floorplans. Contemporary architecture, efficient unit layouts, and urban connectivity create an attractive product for today's renter demographic. For developers seeking a project with substantially reduced entitlement risk, completed pre-development work, and immediate proximity to one of Utah's most significant redevelopment initiatives, 947 Euclid represents a compelling opportunity to deliver new multifamily housing in a supply-constrained market.