{"id":1004050315,"date":"2012-09-27T08:33:16","date_gmt":"2012-09-27T16:33:16","guid":{"rendered":"https:\/\/synd.yardi.com\/?p=71148"},"modified":"2020-04-02T11:45:04","modified_gmt":"2020-04-02T19:45:04","slug":"birkhill-on-main-project-targets-murrays-thriving-mf-market","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/birkhill-on-main-project-targets-murrays-thriving-mf-market\/","title":{"rendered":"Birkhill on Main Project Targets Murray\u2019s Thriving MF Market"},"content":{"rendered":"<p>By Alex Girda, Associate Editor<\/p>\n<p>Parley\u2019s Partners has broken ground on Birkhill on Main Apartment Homes, a $45 million transit-oriented project in the thriving multi-family market of Murray.<\/p>\n<p>As reported Sept. 17 by <em>Multi-Housing News<\/em>, the first of four phases of construction will consist of 137 rental units, 96 of them designated as affordable housing. Following completion of phase one during the first quarter of next year, the developers will start construction of another 65 units in June 2013. The third phase will add the final 109 residential units by 2016, followed by construction of a three-story office building. <a href=\"https:\/\/synd.yardi.com\/wp-content\/uploads\/sites\/46\/2012\/09\/birkhill-thumbnail.jpg\"><img loading=\"lazy\" decoding=\"async\" class=\"alignleft size-full wp-image-71157\" src=\"https:\/\/synd.yardi.com\/wp-content\/uploads\/sites\/46\/2012\/09\/birkhill-thumbnail.jpg\" alt=\"\" width=\"270\" height=\"129\" \/><\/a>The development will meet the Enterprise Green Communities Certification Standard and feature Energy Star-compliant appliances.<\/p>\n<p>Designed by KTGY Group Inc., the complex will include such amenities as a clubhouse, a courtyard, basketball court, fitness facilities, swimming pool and an attached $1.8 million parking structure that will offer residents direct access to their vehicles. A paved trail will link the property to the Jordan River Parkway\u2019s 40-mile network of trails. Apartments will have tall ceilings, granite countertops, generous closet space and balcony or patio access. Birkhill on Main Apartment Homes is near retail and dining spots and the TRAX light rail line.<\/p>\n<p><a href=\"https:\/\/synd.yardi.com\/wp-content\/uploads\/sites\/46\/2012\/09\/saltapt.jpg\"><img loading=\"lazy\" decoding=\"async\" class=\"alignleft size-medium wp-image-71154\" src=\"https:\/\/synd.yardi.com\/wp-content\/uploads\/sites\/46\/2012\/09\/saltapt.jpg\" alt=\"\" width=\"275\" height=\"300\" \/><\/a>According to\u00a0Marcus &amp; Millichap Real Estate Investment Services Inc., Murray is Salt Lake City\u2019s strongest multi-family residential submarket, with a 2.9 percent vacancy rate. Demand is expected to tighten the market further, and developers appear to be responding.\u00a0\u00a0Permitting for new multi-family projects is far outpacing the tally for 2010 and 2011.<\/p>\n<p>For a more in-depth take on the Birkhill development, click <a href=\"https:\/\/www.multihousingnews.com\/news\/parleys-partners-and-ktgy-group-start-construction-on-45m-tod-in-utah\/1004062965.html\" target=\"_blank\" rel=\"nofollow\">here<\/a>.<\/p>\n<p>Chart courtesy of Marcus &amp; Millichap Real Estate Investment Services at <em>marcusmillichap.com\u00a0<\/em><\/p>\n<p>For additional Salt Lake City market data, click <a href=\"https:\/\/www.multihousingnews.com\/news\/market-snapshot-salt-lake-city-outpaces-nation-in-employment-occupancy\/1004055616.html\" target=\"_blank\" rel=\"nofollow\">here<\/a>.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>By Alex Girda, Associate Editor Parley&rsquo;s Partners has broken ground on Birkhill on Main Apartment Homes, a $45 million transit-oriented project in the thriving multi-family market of Murray. As reported Sept. 17 by Multi-Housing News, the first of four phases of construction will consist of 137 rental units, 96 of them designated as affordable housing. [&#8230;]<\/p>\n","protected":false},"author":1269,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21742,1606],"tags":[],"class_list":["post-1004050315","post","type-post","status-publish","format-standard","hentry","category-latest","category-salt-lake-city"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v28.0 (Yoast SEO v28.0) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>Birkhill on Main Project Targets Murray\u2019s Thriving MF Market - Commercial Property Executive<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.commercialsearch.com\/news\/birkhill-on-main-project-targets-murrays-thriving-mf-market\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Birkhill on Main Project Targets Murray\u2019s Thriving MF Market\" \/>\n<meta property=\"og:description\" content=\"By Alex Girda, Associate Editor Parley&rsquo;s Partners has broken ground on Birkhill on Main Apartment Homes, a $45 million transit-oriented project in the thriving multi-family market of Murray. As reported Sept. 17 by Multi-Housing News, the first of four phases of construction will consist of 137 rental units, 96 of them designated as affordable housing. 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