American Fork, UT, August 17, 2014 --(PR.com
)-- Coldwell Banker Commercial Intermountain today announced a transit-oriented development (TOD) occupying 16.2 acres directly adjacent to the American Fork FrontRunner station. The area will permit up to 65 dwelling units per acre and becomes the highest density residential and commercial zone in American Fork history.
“This monumental milestone demonstrates the city’s immense development potential,” said Mary Street, Vice President of Land and Investment Sales at Coldwell Banker Commercial Intermountain. “Many consider American Fork the hub of Utah Valley, and introducing transit-oriented development only further solidifies that position.”
Speculation of an American Fork Frontrunner TOD began well before Utah Transit Authority (UTA) broke ground for the station in 2009. Initially proposals faced severe delays due to economic downturn and public skepticism. After nearly seven years of negotiation, American Fork City, UTA and landowners reached the mutual agreement to commence development.
Since the inception of FrontRunner, TODs have grown in popularity amongst the business community throughout the Wasatch Front. Station Park, Vista Station, Draper Pointe and Thanksgiving Park have experienced rapid growth within the corporate sector attracting major anchor tenants, such as Apple, Microsoft, eBay, Vivint, Pluralsight and AtTask.
“As businesses continue to grapple with a highly competitive labor market, companies will place even greater emphasis on transit-oriented developments to enhance employee recruitment and retention,” said Lew Cramer, President and CEO of Coldwell Banker Commercial Intermountain. “This is the future of commercial real estate.”
American Fork City finalized the Station Area Plan last month. Preliminary zoning is underway, and site maps are available. For more information visit http://www.coldwellutah.com.