After years of planning, discussions and many revisions, the Thanksgiving Station transit-oriented development (TOD) received City Council approval earlier this year on March 22.
Slopes Residential, a company including STACK Real Estate, Greer Company and Thanksgiving Point, had previously been denied iterations of the development, which included residential unit counts nearing 5,800. The latest approved plan includes a maximum of 2,000 residential units.
The now-approved concept plan has 1,800 units in the transit-oriented development (TOD) area, which includes the Utah Transit Authority (UTA) property, the soccer fields north of the FrontRunner Station and the Cornbelly’s site. The remaining 200 units will be outside of the TOD zone on property in the southern area of Thanksgiving Point on the corner of Triumph Blvd and Ashton Blvd.
On Tuesday, Slopes Residential updated the City Council with planned unit counts on the TOD site: 1,250 units on the current Cornbelly’s site, 350 units on the soccer field and 200 units on the UTA parcel.
The TOD plan also creates an ongoing funding mechanism for Thanksgiving Point. Each rental unit will include a family membership to the venue. The membership cost will be included in the monthly rent and disbursed to Thanksgiving Point.
Along with updating the Council on where the 2,000 vested units will be located, Slopes Residential also updated the infrastructure triggers to be met throughout the project, as required by the Council in their previous approval.
The most significant infrastructure trigger requirement will be the extension of Clubhouse Drive, which will cap the buildable units at 1,220 until that road is under construction. The plan also includes an unofficial utility cap of 800 units due to current power capacities. Increased power infrastructure will be required to exceed 800 units. Along with the trigger of the Clubhouse Drive extension and a future North Interchange off I-15, there are several smaller but significant infrastructure triggers like lane additions and traffic pattern changes throughout the plan.
In addition to the Council previously requiring infrastructuretriggers, they also asked the developers to put an emphasis on retail and restaurants to serve the new anticipated residents and the existing community. With the update on Tuesday, the developers and Lehi City staff announced a cap on both residential and office acreage but left the retail categoryuncapped to not only appease the Council’s request but ensure an adequate amount of space for future retail, restaurants and a grocery store.
The updated plan will now go to the Planning Commission for review and discussion, followed by an additional approval request to the City Council in November.