Wednesday, March 30, 2011

Large-scale Herriman development gaining momentum

When Momentum Development Group first announced its ambitious 400-acre Herriman Towne Center residential and commercial development in early summer 2008, Utah’s economy and real estate sector were booming. Although poor market conditions have slowed development of the massive south Valley Herriman Towne Center project, they didn’t derail it.

Three years later, several elements of the project have been built. The J.L. Sorenson Recreation Center, a Salt Lake County facility, opened March 18, joining a library and elementary school. In July, the first neighborhood park is scheduled for completion.

Now comes the debut of the residential portion of the center by Momentum of Salt Lake City— formerly The Sorenson Group — which, once complete, could offer as many as 500 single-family homes, 500 apartments and 1,000 town homes.

In addition to the housing component, Momentum plans to develop 40,000 square feet of office space and 60,000 square feet of retail space across the street from the recreation center. An additional 600,000 square feet of retail space is planned near 5000 West and 13400 South. The first tenant is a McDonald’s, which is opening in April. Salt Lake Tribune