Ground broken for $200 million North SL project

The Enterprise – December 10, 2007

Salt Lake-based Compass Development Group broke ground last week on Eaglewood Village, a $200 million, 96-acre mixed use development located at the intersection of Highway 89 and Eagle Ridge Drive in North Salt Lake.

After almost two years of planning and contention, the project will turn the city’s old gravel pit into a new southern gateway into North Salt Lake and Davis County.

“Just five minutes from downtown Salt Lake City, this is the perfect spot for someone who works in Salt Lake but prefers the elbow room of Davis County,” said Ben Lowe a principal in Compass Development Group. “Eaglewood Village will include Davis County’s largest Class A business park. Its proximity to downtown Salt Lake City and the airport makes it an ideal location for business. It’s going to be a great place to live, work and play.”

To be located at the intersection of I-15 and I-215, Eaglewood Village will sit on one of the last remaining parcels of land available for development along the I-15 corridor. The site is located at the base of the Eaglewood neighborhood and will be home to 570 residences, including townhomes, live/work condominiums and lofts across a variety of price points. The first units are expected to be ready in fall 2008. Despite gloomy reports about residential real estate, Compass is adding names to quickly growing interest lists. Those on the interest lists will have first priority when sales open in the spring.

In addition, more than 120,000 square feet of retail space will be built at Eaglewood, including shops, cafes and restaurants. Compass has signed a letter of intent with a 40,000 square foot grocer and is in negotiations with various shops and eateries. The retail is being leased by Rich Robbins and Steve Bowler at Coldwell Banker.

Eaglewood Corporate Center, the office portion of the village, will ultimately consist of 340,000 square feet of Class A office space. Compass has just started leasing the first 45,000 square foot building, which is expected to be ready for occupancy in early 2009. Office space is being leased by Brandon Fugal and Greg Gunn with Coldwell Banker.

Designed by VCBO Architects and being built by Camco Construction, Inc., Eaglewood Village also will feature common recreation areas for residents, including fountains, a stream, walking and jogging paths and a six-acre park at the top of Eagle Ridge Drive.

Compass Development Group was formed in 1986 by Steve Lowe and has since developed various residential and commercial properties in Utah, Colorado and California. Recently, Compass has focused its efforts on multi-family and mixed-use developments throughout the Wasatch Front.