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Earthquake Near Colony Farms in Salt Lake County (Status Update)

 

Recent FIG News:

Press Release: "The University of Utah Seismograph Stations reports that a moderate earthquake of magnitude 5.7 occurred at 07:09 AM on March 18, 2020 (MDT). The epicenter of the shock was located in the northwestern Salt Lake Valley, 3.1 mi N of Magna, UT. This earthquake was widely felt throughout the Wasatch Front area of north-central Utah. It has been followed by numerous aftershocks, including 20 of magnitude 3.0 or larger during the first hour after the M 5.7 and two of magnitude 4.0 or larger. The largest aftershock so far was a M 4.6 event that occurred at 7:14 am." Utah Geological Survey

Earthquake Strikes Salt Lake County

It's been an interesting month so far, to say the least. Yet here we are—on top of all the health concerns and speculation—Salt Lake County has been hit by a 5.7 magnitude earthquake.

About 45 minutes south of Salt Lake is FIG's home base in Provo. While many of us have started working safely at home—the last thing we expected was to wake up to shaking chandeliers and barking dogs.

As details started to pour in (thank you, twitter) we discovered that the epicenter of today's earthquakes occurred in the north-west region of Salt Lake County. The shock could be felt along the Wasatch Mountain range and had originated between Magna and the Salt Lake Airport.

How does this affect our development in Magna? What are the latest reports on the ground in Colony Farms? Will this affect construction dates and expectations moving forward?

FIG's Official Update: Impact on Colony Farms

This morning, a magnitude 5.7 earthquake occurred approx. 3 miles north of Magna, Utah. The earthquake started at 7:09 am and was followed by several noticeable aftershocks, the largest of which was 4.6 M at 7:14 am.

There were workers on-site at Colony Farms in Magna this morning. No injuries were reported and all plan on returning to their homes safely. Before leaving, some minor damages were reported. With over 800 windows currently installed in the multifamily project, we found five with cracked glass. All five of the cracked windows were picture windows (non-operable).

After our detailed inspection of the site, we decided it best to close the job site for the remainder of the day. We felt this was best for the safety of our workers and the city of Magna for two reasons:

First, reports expected multiple aftershocks in the area. We felt it was in the best interest of our workers to avoid any possible injuries by heading home. Our first priority will always be safety.

Second, we observed significant congestion on city roads and a noticeable impact on the nearby neighborhoods as emergency responders drove past in response to multiple calls. We felt it was best to stay out of their way and facilitate a quick recovery.

Bottom line? Damage appears to be minimal. Repairs will be underway shortly!

Colony Farms Investors: For your safety, we ask that you don't visit the project today. We will be back on site in full force tomorrow and can safely assist you then if needed. In the meantime, direct all general questions via email or phone to help limit traffic to the construction site. You can also watch our March drone video of the project here.

Thank you,

The Fourplex Investment Group & Vollkommen Construction

Resources & Rumors

Here are a few helpful resources if you're looking for more info. There have been talks on social media of natural gas concerns, possible larger earthquakes, and more...you know how social media gets!

While we don't see any need for concern moving forward—either in northwestern Salt Lake or in any of FIG's fourplex investments in Utah—below are a few legitimate sources to refer back to if you have any further questions.

Chat with a member of the FIG team: Contact Us

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Each year, the Fourplex Investment Group releases new multifamily projects in a variety of markets. FIG's waitlist is the easiest way to grow your portfolio before reservations fill up.