SunCrest DevelopmentSunCrest Market Updates March 31, 2016

March SunCrest Market Update

Hidden Canyon Estates – Coming Soon!

Get ready for some new neighbors in our mountaintop community — Hidden Canyon Estates is coming soon (Don’t miss a beat— sign up for development updates here). This development sits on approximately 103 acres located east of SunCrest Drive.

Hidden Canyon Estates SunCrest

What To Expect

Currently, the development is approved for a maximum of 300 single-family homes, each with a minimum 7,500sq/ft (.17-acre) lot. Since there is only one access point off of SunCrest Drive right now, they will be limited to 50 homes until a second access point is built.

This parcel and 2 other parcels were part of a settlement agreement between the existing property owner and Edge homes in 2014. The preliminary plat passed the Draper City Planning Commission is headed to City Council for approval. Upon approval from the Council, the subdivision will include nine phases—the first eight by Edge Homes, and the final phase by the original property owner. View the full plats below.

And What About…?

SunCrest HOA: As of this writing, it’s unclear if they will join the SunCrest HOA.
Open Space: The plat includes two parcels of open space. A .31 acre parcel in Phase 1, and a second .18 parcel next to the city’s existing detention basin.
Parks and Trails: $500,000 will be given to Draper City and be used in the first or second phase trail and trailhead improvements
Traverse Ridge Special Service District: Any subdivision on the property will be a part the Traverse Ridge Special Service District.

 Our take: 

You may be wondering, “How will new construction impact my home’s value?” New development in any community presents more choices for buyers and sellers. Depending on the size, style, and lot size, new homes can bring new competition to finished homes when it comes time to sell, but they will also bring a lot more people up the hill who are interested in buying in SunCrest. Buyers and sellers all have different goals, timing, and lifestyles that make each experience unique. Finished basements, full mature landscaping, established neighborhoods, and different scenery are all strong features of homes already built, so we expect to see existing home sales remain strong, even with new development looming. Working with a team to help position yourself to stand out in a bigger (and newer) crowd, however, will become even more important for any SunCrest homeowner looking to sell.