Provo: Utah County's Powerhouse
Shelby Clark August 1, 2024
Shelby Clark August 1, 2024
Utah County is one of the fastest-growing markets in the nation, bringing some BIG announcements for exciting plans in Provo. Check out what is up and coming, and how these proposals will affect the real estate market in Utah County and surrounding areas.
MEDICAL SCHOOLS
First on the list of new arrivals is an announcement from The First Presidency of the Church of Jesus Christ of Latter-day Saints that a medical school will be built at Brigham Young University.
Although no hospitals will be built in association with the medical school, plans are already underway for the new school which will focus on international health issues and humanitarian efforts.
This medical school will be the fourth in the state, following the recently built Noorda College of Osteopathic Medicine, also located in Provo.
EPIC SPORTS PARK
Provo City is building a huge, 100+ acre park that will meet the current and future demand for high-quality sports fields. The park will boast 21 multi-purpose sports fields and a 45-court pickleball complex for community and regional tournament play.
The park will be on the west side of Provo, adjacent to the airport. The first fifteen fields will be completed in the fall of 2024, with the rest coming in 2026.
The park is expected to boost the local economy with over 30 million dollars annually in local travel and tourism spending.
AIRPORT EXPANSION
The Provo airport is attracting more international flights with its plans to expand terminals on both the north and south sides. By 2027, there will be a total number of 94 gates and partnerships with major carrier services.
Flying will be easier than ever with more flights, options, and ~hopefully~ less congestion in the Salt Lake Airport.
REAL ESTATE IMPACT
The real estate market is a cycle of increasing and decreasing demand driving the market. New economic developments in Provo will bring jobs for medical instructors and airport personnel, with more housing demand. Home prices will rise, but so will wealth and new construction.
The real estate market will start picking up quickly in Utah County and surrounding areas, and we want to help you have a seat at the table. Please reach out to us for any help with your real estate needs, or if you know of anyone looking to buy or sell.
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THE PETER MORKEL REAL ESTATE GROUP
768 S 1600 W Suite AÂ Mapleton UT 84664