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City Creek Living Financing for City Condo’s in Salt Lake City, Utah

March 30th, 2012 by [shareaholic app="share_buttons" id="27157108"]

City Creek Living, Financing for City Condo’s in Salt Lake City, Utah

The urban lifestyle has appeared out of no where to be a full fledged living metropolis in the heart of downtown Salt Lake City, Utah.

There are over 80 +  stores and multiple restaurants that line the pedestrian walkways and link two anchor stores, Nordstrom and Macy’s. There is open air retail and covered retail area, so whether it’s sunshine or the cold winter days or rainy weather, there is shopping for every occasion.  There is even a retractable roof that is amazing.  You think you are in a major league sports stadium or you may not even know it if you didn’t know that the retractible roof is there.

So what about shopping for food for those that live in one of the condo buildings?  There is a full-service Harmons Grocery Store, a full service deli, a pharmacy for your medications / prescriptions, and of course a bakery.  Harmons is located on the south side of Social Hall Avenue, east of State Street.

Food, what if you’re hungry and you need to get your kids food or even yourself or you & your significant other?  Of course there’s a food court.  City Creek’s food court is located on 28 S. State Street between the KeyBank and Eagle Gate Towers.

Some of the questions that many people throughout Utah are asking about City Creek Living:

How do people do it?  How can someone afford to buy one of these condo’s or a place there?

Isn’t bank lending all but gone because of the credit crunch?

Is everyone that is buying a condo in City Creek or in downtown Salt Lake all independently wealthy?  No!

Do you have to be Mega Wealthy to buy one of these condos? No!

What are the options to buy one of these condo’s?

Because most banks and credit unions won’t lend on a mortgage loan for a skyrise condominium, what are my options?

Ben Gerritsen, a Utah Mortgage Broker works for a mortgage broker in Salt Lake City, Utah, .   specializes in financing real estate and finding lenders that have niches and loan programs for different scenarios.  Ben has loan programs and lenders that will lend on skyrise (high rise) condo’s.  Some of the banks are located outside of Utah, but will lend in the Utah market.  They lend higher loan amounts, have more aggressive loan pgorams, higher loan to values than the local lenders.

Ben recently helped a famiily with a jumbo loan in Utah county and was able to find a lender that lent 5% higher than all of the other local lenders.  This worked out to save close to $50,000 for this family.

There are three (3) condo buildings at City Creek Living, Salt Lake City, Utah.

  • The Regent at City Creek is a project that not every bank will lend on.
  • Richards Court
  • Promontory

The overview of the three buildings are:

Promontory

A thirty-story icon on the Salt Lake skyline, Promontory stands alone. Overlooking the entire valley and the surrounding mountains, Promontory on South Temple offers stunning views in every direction. Next door to the shops, restaurants and entertainment that define urban living, this distinctive City Creek tower lets you live within walking distance of life. Elegant finishes, enduring style, comfortable amenities, unparalleled views – a lifestyle never before experienced in Utah.

The Regent

Inspiringly modern, The Regent stands 20-stories tall on 100 South in the heart of downtown. Your new home at City Creek is a short walk from Salt Lake’s best shopping, dining, entertainment and cultural venues. Enjoy truly spectacular views of the Wasatch and Oquirrh mountains and the surrounding cityscape. Refresh, relax and renew at the pool and terrace on the third floor. Add restaurants and shops on the ground floor to make life at The Regent an experience never before seen in Salt Lake City.

Richards Court

As the portal between Temple Square and City Creek, Richards Court welcomes residents and visitors alike to Salt Lake’s new metropolitan center. Here you’ll find residences overlooking historic Temple Square along with proximity to all the shops, hotels, restaurants and entertainment spaces that define urban living, Salt Lake City style. Residents of Richards Court will have access to private and secluded outdoor spaces, including a park-like terrace perfectly suited for quiet gatherings.

Other Salt Lake City Condo buildings

Another condo project in downtown Salt Lake City that is close to the City Creek area is the Broadway Condo’s.  The Broadway Condo’s is another condo project that is a specialty loan product for Ben Gerritsen.

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