Brandon DonnellyCanada must become a global superpower
The silver lining to the US starting a trade war with Canada and regularly threatening annexation is that it has forced this country out of complacency. Indeed, I'm hard pressed to remember a time, at least in my lifetime, when patriotism and nationalism has united so much of Canada. According to a recent survey by Angus Reid, the percentage of Canadians expressing a "deep emotional attachment" to the country jumped from 49% in December 2024 to 59% in February 2025. And as further evidence of...
Brandon DonnellyThe bank robbery capital of the world
Between 1985 and 1995, Los Angeles' retail bank branches were robbed some 17,106 times. In 1992, which was the the city's worst year for robberies, the number was 2,641. This roughly translated into about one bank robbery every 45 minutes of each banking day. All of this, according to this CrimeReads piece by Peter Houlahan, gave Los Angeles the dubious title of "The Bank Robbery Capital of the World" during this time period. So what caused this? Well according to Peter it was facil...
Brandon DonnellyThe story behind those pixelated video game mosaics in Paris
If you've ever been to Paris, you've probably noticed the small pixelated art pieces that are scattered all around the city on buildings and various other hard surfaces. Or maybe you haven't seen or noticed them in Paris, but you've seen similarly pixelated mosaics in one of the other 79 cities around the world where they can be found. Or maybe you have no idea what I'm talking about right now. Huh? Here's an example from Bolivia (click here if you can't see...
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Brandon DonnellyThe tallest building in Utah
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Brandon DonnellyThe tallest building in Utah
Brandon DonnellyCanada must become a global superpower
The silver lining to the US starting a trade war with Canada and regularly threatening annexation is that it has forced this country out of complacency. Indeed, I'm hard pressed to remember a time, at least in my lifetime, when patriotism and nationalism has united so much of Canada. According to a recent survey by Angus Reid, the percentage of Canadians expressing a "deep emotional attachment" to the country jumped from 49% in December 2024 to 59% in February 2025. And as further evidence of...
Brandon DonnellyThe bank robbery capital of the world
Between 1985 and 1995, Los Angeles' retail bank branches were robbed some 17,106 times. In 1992, which was the the city's worst year for robberies, the number was 2,641. This roughly translated into about one bank robbery every 45 minutes of each banking day. All of this, according to this CrimeReads piece by Peter Houlahan, gave Los Angeles the dubious title of "The Bank Robbery Capital of the World" during this time period. So what caused this? Well according to Peter it was facil...
Brandon DonnellyThe story behind those pixelated video game mosaics in Paris
If you've ever been to Paris, you've probably noticed the small pixelated art pieces that are scattered all around the city on buildings and various other hard surfaces. Or maybe you haven't seen or noticed them in Paris, but you've seen similarly pixelated mosaics in one of the other 79 cities around the world where they can be found. Or maybe you have no idea what I'm talking about right now. Huh? Here's an example from Bolivia (click here if you can't see...
Salt Lake City has two recently completed luxury multi-family developments. Or perhaps I should say, at least two.
The first is The Worthington by Chicago-based developer Convexity Properties. It has 31 floors and 359 apartments. Leasing started last summer and seems to be going well.
The second is the Astra Tower by Kensington Investment Company, which is being managed by Greystar. It has 41 floors, 377 apartments, and is 451 feet tall, making it the tallest building in the state of Utah. Construction was completed at the beginning of this year and, according to Building Salt Lake, it's already about 30% occupied with full stabilization forecasted for summer 2026.
It's interesting to compare these projects to multi-family developments here in Toronto.
First of all, the reported average rent for Astra is US$3 per square foot, which works out to ~C$4.19 psf for us Canadians at today's exchange rate. I would say that this is at least ~15% lower compared to where I would expect most Toronto developers are underwriting new projects. This suggests to me that it's more cost effective to build in SLC.
The product is also different. On Astra's website, they have two virtual tours.
The first is for a studio apartment at 554 sf and the second is for a one bedroom at 788 sf. These are meaningfully larger than new apartments in Toronto. Here, the first would have to be a one bedroom and the second would be at a minimum a one bedroom plus den, though probably a two bedroom.
Salt Lake City has two recently completed luxury multi-family developments. Or perhaps I should say, at least two.
The first is The Worthington by Chicago-based developer Convexity Properties. It has 31 floors and 359 apartments. Leasing started last summer and seems to be going well.
The second is the Astra Tower by Kensington Investment Company, which is being managed by Greystar. It has 41 floors, 377 apartments, and is 451 feet tall, making it the tallest building in the state of Utah. Construction was completed at the beginning of this year and, according to Building Salt Lake, it's already about 30% occupied with full stabilization forecasted for summer 2026.
It's interesting to compare these projects to multi-family developments here in Toronto.
First of all, the reported average rent for Astra is US$3 per square foot, which works out to ~C$4.19 psf for us Canadians at today's exchange rate. I would say that this is at least ~15% lower compared to where I would expect most Toronto developers are underwriting new projects. This suggests to me that it's more cost effective to build in SLC.
The product is also different. On Astra's website, they have two virtual tours.
The first is for a studio apartment at 554 sf and the second is for a one bedroom at 788 sf. These are meaningfully larger than new apartments in Toronto. Here, the first would have to be a one bedroom and the second would be at a minimum a one bedroom plus den, though probably a two bedroom.
Every market has its nuances. In the case of SLC, the model suites appear to be very clearly competing with low-rise housing. The one bedroom has a dedicated entrance foyer, there's a separate dining area, and the bedroom has carpet, among other things. It reminds me of earlier multi-family vintages in Toronto.
Of course, one really unique feature you get here is views of the Wasatch mountain range (see cover photo above). It's a special feeling being in an urban center where you have mountains all around you, and it's one of the primary reasons why an increasing number of people are being drawn to Utah.
Congratulations to the team on successfully completing such an ambitious project. It's exciting to see SLC continue to grow and urbanize.
Cover photo via the Astra Tower
Every market has its nuances. In the case of SLC, the model suites appear to be very clearly competing with low-rise housing. The one bedroom has a dedicated entrance foyer, there's a separate dining area, and the bedroom has carpet, among other things. It reminds me of earlier multi-family vintages in Toronto.
Of course, one really unique feature you get here is views of the Wasatch mountain range (see cover photo above). It's a special feeling being in an urban center where you have mountains all around you, and it's one of the primary reasons why an increasing number of people are being drawn to Utah.
Congratulations to the team on successfully completing such an ambitious project. It's exciting to see SLC continue to grow and urbanize.
Cover photo via the Astra Tower
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Today's post: The tallest building in Utah https://brandondonnelly.com/the-tallest-building-in-utah