Multifamily developer Alliance Residential Co. has opened an office in the fast-growing Salt Lake City market. The new office, in the company’s Mountain Region, will be led by managing director Ryan Barker.
“We are pleased to open the Salt Lake City office of Alliance Residential to reenter the Salt Lake City market,” said Jay Hiemenz, president and chief operating officer. “Strong employment, quality of life, and relative affordability of the market create great multifamily opportunities across Alliance’s Broadstone and Prose brands. Look for Alliance to continue to expand our footprint in similar high demand markets in 2021 and 2022.”
Utah’s growth rate continues to be among the most robust in the U.S., according to Census Bureau data. As of July 2020, the state’s population was more than 2.3 million, with the University of Utah estimating that it will have more than 5.8 million residents by 2065.
“We have explored opening a Salt Lake City office for some time and believe conditions are good with the right expert to lead the team,” said Andy Clay, managing director of Alliance Residential’s Mountain Region, which includes Utah. “Ryan has extensive experience in the Salt Lake City market and valuable long-term relationships. We are excited to get going.”
Barker comes to Alliance Residential from Provo, Utah-based PEG Cos., where he served as director of investments. He has specialized in assembling prime development parcels and was a key figure in securing the Salt Lake City convention center hotel, a 700-room, $300 million private-public venture that started construction this year.
“Salt Lake City is a wonderful place to live, do business, and raise a family,” said Barker. “The economy of Salt Lake City is diverse and robust, and the opportunities are abundant. The opportunity to lead the Alliance Residential team in Salt Lake City and bring best-in-class development, construction, and acquisition expertise is a perfect fit for everyone.”
