Just looking at the City Creek condos. Most floors empty or one or two sold. http://citycreekliving.com/your-home/

Ugh. LDS Inc paying construction note (or paid cash) and have no revenue. Sitting on millions in expensive housing, no interest.

Your tithing dollars at work! We thank thee, oh Dog, for no profit.

Skip the sales pitch and get to the big glitzy photos:

view-source:http://citycreekliving.com/your-home/

About 2/3rds of the way down ...

Example: http://citycreekliving.com/wp-content/uploads/2012/08/3-_O3A3064_11-1500x1000.jpg

I met a guy skiing this past winter at Alta that had purchased one of these condos. Among the facts he reported were:

> You can't own these outright. You can ONLY get a 99 year lease. No chance the cult will allow you to have any ultimate leverage.

> He cannot smoke anywhere in the entire facility, even on his own balcony.

> The amenities, such as pools, party rooms, gyms, etc. are locked up tight on Sundays.

I say good luck selling these.

EDIT: Oops I forgot to say that the last two facts, in true mormon fashion, were not disclosed until after closing haha!



Edited 1 time(s). Last edit at 06/16/2014 06:43PM by rodolfo.

Actually, a lot of urban properties are leased out on a 99 year basis. This is the case in a lot of cities, and it's not something that is unique to Salt Lake or City Creek.

I have been in real estate for 20 years, never heard of it ourside of the indian reservation. To pay such exhorbitant prices to LEASE for 99 years? insane.

That has got to be illegal not to reveal the no smoking before signing. So exercising on sunday is a sin?
Mormons are such pissants.

No smoking indoors is a municipal law in some places (dunno about SLC). But it's not so much a Mormon thing as an authoritarian thing; there are, in fact, entire cities in California that prohibit all indoor smoking (such as http://www.reuters.com/article/2012/10/16/us-usa-california-smoking-idUSBRE89F05W20121016)

That said, it should have been disclosed on the lease (City Creek condo purchase = 99 year lease). I'd wager that it's not prominently displayed, but he probably saw it before he handed over money.

Someone who wants to pay over $200 for a replica/fake deer head w/antlers from Restoration Hardware. The model condos are just showrooms their mall tenants.

OLder lesbian couple (I mean never married sisters) non smokers, two cats, don't exercise?

I looked at the price list....seems very pricey. Or am I just out of touch?

It is pricey. In fact, it's Park City pricey.

I think they're overestimating the demand for views and proximity to Cult Central Temple Square. They are by far the priciest condos downtown. There's even one listed for sale at $7.9 million. http://www.utahrealestate.com/1219384

Seriously? WTF, this isn't NYC.

7.9 million to look at smog...

I have a friend who specializes in downtown real estate. She said Corporation counted on "the brethren" in Sweden, etc., buying these up. They sent out 40,000 letters to select members offering these condos. Unfortunately, that was when the bottom fell out of the market and all those upper middle class Mormons lost their retirement. So now they're stuck with overpriced condos that look and feel like the inside of a ward meeting house. I toured them with my friend and I had PTSD just walking in the lobby.

That is about the kookiest idea I've ever heard. So all those retired Europeans mormons were going to leave their country and their families and trek to Zion to live in the temple condos. Right . . . . !

Gotta love the PR photos- wine glasses on the dining room table, but with bottled water. The appearance of normalcy, but not really.

The breakfast tray with mugs and a pitcher. Again, the appearance of normalcy, but not really.