Colony Farms

Development Name: Colony Farms
City: Magna, UT
Number of doors: 301 units

In what initially seemed like a surprising move in 2018, a visionary developer announced a significant 301-unit development in Magna, UT. This city, with a population of 29,000 residents, is located on the far west side of the Salt Lake metro area and had experienced slow major development or redevelopment over the previous several years.

However, this bold vision paid off. Colony Farms swiftly became a standout asset in the developer’s portfolio, achieving rapid lease-ups and exceeding expected lease figures.

For property developers and real estate investors, this success story highlights the potential of strategic developments in overlooked areas. It also highlights the importance of incorporating modern amenities, such as smart home technology, to attract and retain tenants in these communities.