Real Estate

Real Estate Development With Purpose

The Salt Lake City Community Reinvestment Agency (CRA) uses real estate as a tool to strengthen neighborhoods, expand opportunity, and support long-term economic vitality.

Through strategic property acquisition, land assembly, and partnerships with private and nonprofit developers, the CRA helps unlock sites that can deliver housing, jobs, and community-serving uses that the market alone may not achieve. Every property decision is guided by adopted plans, public input, and the goal of creating lasting public benefit.

How the CRA Uses Real Estate

The CRA’s real estate portfolio supports redevelopment efforts citywide, with a focus on catalytic sites that can advance community priorities. Properties may be:

Assembled to support larger, coordinated development
Held temporarily to align timing, infrastructure, or zoning
Offered for commercial lease to activate corridors and support local businesses
Transferred through competitive processes to qualified development partners
Steward key community assets, including the Gallivan Center and the Ballpark, to support neighborhood arts, culture, and public-space activation

This approach allows the CRA to be both strategic and flexible, responding to neighborhood needs while positioning sites for successful redevelopment.

Planned Development

In some areas, the CRA acquires and holds property to support long-term redevelopment goals. These sites are typically located within designated project areas and may be part of a broader vision that includes housing, mixed-use development, public spaces, or employment opportunities.

Properties held by the CRA are not speculative. They are maintained to preserve future options, support phased development, and ensure that when redevelopment occurs, it aligns with adopted plans and delivers measurable public value.

This approach allows the CRA to be deliberate about when and how properties move into development. Holding land enables coordination with infrastructure investments, zoning updates, and community planning efforts, helping ensure redevelopment is well-timed and responsive to neighborhood needs. When properties are offered, they are advanced through transparent, publicly noticed processes that prioritize long-term community benefit.

Future Development Sites

Historic Ballpark

The former 14.8-acre Ballpark and adjacent surface parking represent one of Salt Lake City’s most significant redevelopment opportunities. Located in the heart of the Ballpark neighborhood, the property is envisioned as a long-term, mixed-use district that can support housing, jobs, public space, and neighborhood-serving amenities. The CRA is stewarding the site to ensure future redevelopment aligns with adopted plans, community priorities, and long-term public benefit. ANTICIPATED PHASE I AVAILABILITY: MID-2026.

Major Street Parcels

Four vacant parcels totaling 0.96 acres sit one block from the future Ballpark redevelopment, with flexible zoning that allows retail, office, light manufacturing, and residential uses. Alleys along the north and west edges provide access and opportunities to activate midblock connections. The CRA intends to offer the site for a use that complements the Ballpark district, prioritizing proposals that deliver missing-middle housing, pathways to homeownership, and housing paired with active ground floors or small-format commercial.

Parry Stone Block

Made up of 10 parcels, assembled over the past decade, Parry Stone Block offers a rare 2.33-acre redevelopment opportunity in Salt Lake City’s Depot District. Located on 100 South between 600 West and Dansie Drive, the site is zoned Gateway Mixed Use, supporting multifamily housing, commercial and office uses, arts and cultural space, and active ground-floor programming. CURRENTLY AVAILABLE.

Peacock Block

Peacock Blocks comprise 1.27 acres within the 9-Line Project Area and are designated as a community node in the City’s Westside Master Plan. The site is envisioned as a mixed-use center of activity, with housing alongside neighborhood-serving uses such as groceries, restaurants, and everyday retail. Community priorities for new development include housing and full-service, family-oriented dining, as well as retail for furniture, appliances, electronics, sporting goods, health and beauty, and clothing.

Rio Grande

Rio Grande Blocks D & E encompass 2.68 acres in the heart of the Central Business District, with high visibility at key downtown gateways and excellent multimodal access. Block D is envisioned for residential mixed-use development with active ground-floor uses — such as medical, daycare, lobby entries, or residential frontages — to help create a strong neighborhood feel. Block E is suited for commercial mixed-use, supporting uses such as tech headquarters, lab space, or creative offices above a high-intensity retail ground floor. ANTICIPATED AVAILABILITY: EARLY 2026.

Second West Parcels

The Second West Parcels consist of two parcels totaling 0.25 acres within the State Street Project Area. The site currently includes a vacant single-family home that was previously used as an office. Redevelopment is envisioned to prioritize for-sale, family-sized housing in missing-middle formats — such as townhomes or small multiplexes — to expand homeownership opportunities while fitting the scale and character of the Central 9th neighborhood. ANTICIPATED AVAILABILITY: MID-2026.

West Montrose

West Montrose is a multi-parcel development opportunity encompassing approximately 2 acres within an established neighborhood context. The site is envisioned as a mixed-income, mixed-use residential project that activates the street, enhances walkability, and integrates seamlessly with surrounding uses. New development must also include a wealth-building program for low- to moderate-income residents, such as homeownership pathways, supplemental income opportunities, renter stipends, or cooperative models.

Sugar House

This 1.61-acre site is located in the heart of the Sugar House Business District, with direct frontage along Highland Drive and adjacency to Parley’s Trail. The vision for future development includes delivering affordable housing, activating Highland Drive with ground-floor retail, and preserving the trail along the site’s northern edge. The site also allows for dedication of land to support the future S-Line extension, reinforcing transit access and walkability in the district.

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Commercial Property Leasing

The CRA also offers select commercial properties for rent, often as a way to activate key corridors, support small businesses, or stabilize transitioning areas.

These spaces may include:

Ground-floor retail or office space
Flexible commercial storefronts
Interim or transitional uses that support neighborhood vitality

Commercial leasing helps keep properties productive while advancing broader redevelopment objectives. Availability and terms vary by location.