Parc at Gateway Condos for Sale — Salt Lake City, Utah

About The Parc at Gateway in Downtown Salt Lake City

The Parc at Gateway is the residential half of a plan that reshaped west downtown. The Boyer Company opened The Gateway retail district in November 2001 around the historic Union Pacific Depot, then built this twelve-story condominium at 5 South 500 West as its housing component, completing it in 2004. That sequencing is the whole point of the address: unlike a tower dropped into an existing block, The Parc was designed alongside the shopping, dining and transit it sits on top of. Among downtown Salt Lake City condos, few have that pedigree.

Sources disagree on the size of the community, and it is worth stating plainly: Boyer’s own project record lists 143 residences, while listing services and CoStar report 152. The difference likely comes down to whether ground-floor and townhouse units are counted with the tower. Either way it is a mid-size community with roughly seven distinct floor plans, which is unusually varied for a single downtown address.

That variety is the reason to shop here carefully. The mix runs from one-bedroom flats near 697 square feet up to street-side townhouses of roughly 2,560 square feet — and the townhouses are a genuinely unusual product downtown, with private gated street entrances and their own attached two-car garages reached through a separate secure garage entrance, effectively a garage within the garage. In between sit patio-level residences that open directly onto the shared community terrace overlooking Gateway Plaza, two-story loft-style condominiums with vaulted ceilings, and corner flats with mountain and valley views. Two parking spaces and two storage units are common in the larger plans, which is rare in a downtown building of any age.

The amenity package is closer to a high-rise than to a loft conversion. Residents get a two-story grand entrance lobby, a clubhouse and gathering room, a fitness center, a rooftop deck and terrace, a residents lounge and library, a fire pit, barbecue and picnic areas, a secure mailroom, on-site property management and on-site security, controlled access throughout, and gated secured underground parking. Outside the door, the landscaped 500 West median park gives the block a European-boulevard feel that most of downtown lacks.

Two things here matter more to buyers than the amenity list. First, rentals: the association permits thirty-day minimum leases with no rental cap, and one recent listing explicitly markets monthly furnished rentals at that minimum. That is materially more flexible than the six-month minimum at Broadway Park Lofts or the one-year term on some Dakota Lofts units, and it is why sellers here keep pointing at the 2034 Winter Olympics returning to Utah. Second, accessibility: recent records list 32-inch doorways, 36-inch hallways, no-step entry, single-level living, elevator service, audible and visible alerts, and full wheelchair access. Very little downtown housing stock can say that.

Location does the rest. The Gateway’s shops, restaurants and theaters are immediately adjacent; the Delta Center, Abravanel Hall, the Salt Palace and Clark Planetarium are short walks; and the Arena TRAX station is about five minutes on foot, with FrontRunner regional rail at the Depot. The airport is roughly ten minutes by car and world-class ski resorts are inside an hour. School assignments in recent sales varied between Washington and Wasatch elementary and East and West high, all within the Salt Lake City School District, with Bryant Middle consistent across records. Rowland Hall-St Mark’s and Judge Memorial appear as nearby private options. The building sits in the 84101 zip code.

Buying or selling at The Parc at Gateway? Get a low commission listing at just 1.5% instead of the traditional 3%, or buy here and take 50% cash back at closing. On a $500,000 condo, seller savings are approximately $7,500 and buyer cash back is approximately $7,500. With seven floor plans spanning 697 to 2,560 square feet, pricing here demands plan-specific comparables rather than a building average — as the sold data below makes clear. Aaron Peters is a licensed discount broker and the Broker/Owner of DiscountAgent.com, personally handling every Wasatch Front transaction since 2006. View All Downtown Salt Lake City Condos →

Recent Sold Market Snapshot

Parc at Gateway Sales

Drawn from six Parc at Gateway listing records in the Wasatch Front Regional MLS between November 2025 and August 2026, three of which closed. With seven floor plans in one community, read these as a range across very different products.

Figures derived from recent Parc at Gateway MLS records and are approximate. Utah is a non-disclosure state; individual sale prices are not published. Floor plans in this community differ enough that a building-wide average is a poor substitute for plan-specific comparables. WFRMLS data revises as late closings report. Contact Aaron for current comparable data on a specific condo.

Finding One • For Buyers

Extra square footage here is nearly free

All three recent closings landed within about $15,000 of each other, clustered near the half-million mark, despite spanning 1,064 to 1,385 square feet. Because total price barely moved while size did, price per square foot ran the whole way from roughly $484 down to $361, a 34% spread that tracks almost perfectly inverse to unit size.

Standing inventory shows the same curve stretched further: a 697-square-foot flat has been asking around $530 per foot while the 2,560-square-foot townhouse asks roughly $374. In practical terms, moving up two floor plans in this community costs far less per foot than moving up in almost any other downtown building.

Practical takeaway: if you are buying, price the plans against each other rather than against a per-foot benchmark — the larger units are where the value sits. If you are selling a smaller flat, per-foot comparables flatter you and total-price comparables do not, and buyers here are running exactly this math.

Finding Two • Carrying Cost

The best amenity-per-dollar dues downtown — in three parts

Base dues across recent records ran roughly $0.30 to $0.46 per square foot per month, averaging about $0.36. For a building with a clubhouse, fitness center, rooftop deck, on-site management and on-site security, that is remarkable value against the rest of the market:

Practical takeaway: the base figure is not the full bill. Recent listings disclose an added $32 per month for internet, heating and cooling billed separately by usage, and an owner-carried HO6 policy on top. And watch the transfer charge — the HOA change fee in recent records ranged from $150 to $2,323, a fifteenfold spread. Get it confirmed in writing before you set a closing budget.

Finding Three • For Sellers & Investors

30-day rentals with no cap is the real differentiator

The association permits leases of thirty days or longer with no rental cap — one active listing markets monthly furnished stays at that minimum outright. Compare that with a six-month minimum at Broadway Park Lofts or a one-year term on some Dakota units. For an owner who travels, relocates, or wants optionality, this is the most flexible rental posture among the downtown buildings we track, and multiple listings cite the 2034 Winter Olympics returning to Utah as the reason it matters.

Speed still depends on price. Closings took 15, 42 and 111 days, with a median sold price near 97% of original list. Two of the three carried concessions, one as large as $15,000. Meanwhile two active listings have already cut their asking prices — one by roughly 14% — which tells you the standing inventory launched ahead of the closings.

Practical takeaway: sellers should lead marketing with the rental flexibility and the two-parking-two-storage configuration, because those are the features buyers cannot get next door — then price against closings rather than the reduced listings sitting above them. Buyers should underwrite a concession into the offer; recent history supports asking.

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