The first Condominium project in the Continental United States was built in Salt Lake City in 1960. So said Keith Romney back in 1974 in his book Condominium Development Guide. The “Father of Condominiums” also reported predictions that Condos would account for 40 – 50 percent of all multi-family Real Estate construction by 1975.
That was almost 40 years ago and while we haven’t seen that kind of Condo explosion we have seen an increase in Condominium conversions and development in Salt Lake over the last few years. The reason is an ever increasing cost of land and the need to provide affordable housing for an ever expanding Real Estate market.