SALT LAKE COUNTY, Utah – PEG Construction, the commercial contracting arm of parent company PEG Companies [PEG], broke ground on Phase II of Brick Lofts, a large upscale multifamily community in heart of Millcreek, Utah.
The seven-story 166,454 square-foot building will add an additional 89 one- and two-bedroom units to the 44 units completed during Phase I, bringing a total of 133 units to the neighborhood.
“I couldn’t be more thrilled to see the process of a fully integrated company come to fruition as we break ground on this exciting new project. The idea of both the developer and the contractor working together ‘in-house’ is an intriguing efficiency that PEG has been working toward for a very long time.”
As a vertically integrated subsidiary of PEG Companies [“PEG”], PEG Construction worked side-by-side with sister-company PEG Development in a true partnership through the entire design process. This collaboration allowed the team to maximize value and reduce timelines for the benefit of PEG and its investors.
Brick Lofts will feature market-leading amenities that take full advantage of the project’s prime location and intriguing city views. PEG is proud to deliver a robust rooftop terrace and outdoor kitchen area, several outdoors lounges and fireplaces, a resort-style hot tub and sunbathing area, and more.
Construction for Brick Lofts Phase II is slated for a 24-month build with a grand opening scheduled for Summer 2025. Upon completion, Brick Lofts will be managed by PEG’s in-house multifamily and commercial property management entity, PEG Property Group.
“PEG Property Group is excited to be managing this state-of-the-art project in the heart of Millcreek,” said Debra Spohn, Division President of PEG Property Group. “This upper east location is in a very desirable area with nearby shopping and restaurants; plus, a huge new mixed-use development on its way that will enhance the experience further.”
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