SunCrest Market Updates August 31, 2016

August SunCrest Market Update

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More SunCrest Development?

Draper City recently received a $7.3 million dollar offer from Blue Bison Development on 110 acres of SunCrest area property. Located at approximately 2900 E 16000 S, or just east of the Mercer Hollow subdivision on the Utah County side, this area was declared surplus a few years back (the city’s way of saying “for sale”) and appears to have found a buyer.

110 SunCrest Surplus

The potential development would be accessed from a new road off of SunCrest Drive. It does lie within the Traverse Ridge Special Service District (TRSSD) which would be in charge of maintenance costs if the road is public, and the developer would be in charge of any easements and future connections or subdivision needs. This parcel neighbors ~365 acres known as Alpine Joint Ventures that will also likely be developed.

 Our take: 

Since Draper City’s $5.3 million dollar purchase of nearly 2,400 acres at the end of 2012, almost 200 of those acres appear to be heading towards residential development. This parcel, along with Hidden Canyon Estates and Edelweiss, may have you 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 existing SunCrest 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 new construction isn’t for everyone. 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.

Our SunCrest Market Update is a hyper-local analysis of the most up-to-date information regarding the SunCrest real estate market.  The previous month’s SunCrest housing information and future editions are released monthly.