The action taken by the Utah Transit Authority Board of Trustees in advancing its second transit-oriented development (TOD) in the City of West Jordan exemplifies our responsiveness to the recommendations contained in a recent legislative audit.
The project will provide a huge economic benefit to the community and is a remarkable example of mixed use TOD. The $40 million first phase of the TOD, with its 267 units and structured parking will be within walking distance of the Jordan Valley TRAX station.
The joint venture UTA has entered into for development of the Jordan Valley TOD is sound, both for the agency and the taxpayers we serve. In addition to being consistent with standard development practices, UTA will recoup its investment for the Jordan Valley parking structure as well as the Draper FrontRunner station. Ultimately, after recouping its investment, the agency will receive revenue from the completed project.
UTA has taken the recommendations of the legislative audit seriously. We have enhanced our policies and procedures and increased our oversight to the highest standards. The details and agreements associated with the Jordan Valley TOD have been thoroughly evaluated by the UTA Board of Trustees and internal audit staff. Independent reviews of the agreement have also been completed and support the board’s decision to move forward.
The Jordan Valley TOD reflects a cutting-edge marriage of transit and development. It is based on a model identified by U.S. Department of Transportation Secretary Anthony Foxx as a blueprint for a successful TOD. It also follows the Wasatch Front Regional Council growth plan and UTA’s adopted strategic mission of helping improve Wasatch Front air quality by reducing developmental sprawl and traffic congestion.
Located next to the TRAX Red Line, this development will provide easy access to major destinations in the valley including the University of Utah, downtown Salt Lake City, the Jordan Landing shopping center and more. When all phases are complete, it will boast nearly 1,400 residential units, 83,000 square feet of office space, structured parking, and nearly 35,000 square feet of restaurant and retail space. The Jordan Valley TOD will be a vibrant destination in the valley, increasing transit ridership and creating jobs and economic growth.
Of the 30.2 acres of surplus property UTA is conveying to the developer, 25.7 acres will be pledged only against infrastructure and utilities, and the loan is expected to be retired within five years. Additionally, UTA is partnering with a proven and experienced developer. Boulder Ventures has participated in successful projects throughout the West and local developments such as the 2100 Sugarhouse development on the S-Line. Boulder Ventures was selected as the developer by a unanimous vote of the selection committee after a thorough review of the proposals. The procurement process was comprehensive and in compliance with all federal and state regulations, as well as UTA policies.
The City of West Jordan has also been a great partner, working diligently on the master plan and looking ahead at the necessary infrastructure to support the development. West Jordan’s recognition of the value of this TOD is demonstrated by the $21 million community development agreement (CDA) created for the project.
UTA expects work to begin soon on phase 1, as Boulder Ventures has secured all local, state and federal approvals for this model transit oriented development to move forward.
David Burton, chairman of the Utah Transit Authority Board of Trustees. Burton is former presiding Bishop for the Church of Jesus Christ of Latter Day Saints and was responsible for the construction of more than 100 new temples around the world, as well as a new administration building in Hong Kong. He also provided leadership and vision in the design and construction of the Church’s Conference Center, the relocation of the LDS Business College, establishment of the BYU-Salt Lake City Center and development of the City Creek Center program.
Michael Allegra, president and CEO of Utah Transit Authority, has more than 38 years of experience in the transit industry. Allegra began his career in 1976 as a transportation engineer for Utah’s Wasatch Front Regional Council. Three years later, he joined the Utah Transit Authority (UTA) as a planner/engineer and has since worked through nearly every aspect of the UTA organization.