Mountain Classic Real Estate, Inc. is a value-add developer based in Salt Lake City, Utah.
Known for high-design, creative projects, MCRE specializes in extensive remodels and complicated asset conversion. MCRE has been the largest historical renovation player in Utah for many years and has won numerous awards. MCRE has transacted over $250M, created over $100M in incremental asset value, and has a $500M hotel-to-multifamily conversion pipeline over the next 3 years.
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Given MCRE’s extensive experience in complicated renovation projects and the nationwide shortage of attainable housing, MCRE began converting hotels to multifamily properties in 2019. Realizing this opportunity very early enabled MCRE to become one of the premier players in this niche nationwide and they continue to standout by delivering high-design, modern amenity apartment buildings while staying an average of 35% below new build costs.
MCRE is one of the most acclaimed historic renovation specialists in the Intermountain West, having completed dozens of historic projects worth over $125M in the last five years. Our team loves the challenge of finding creative solutions and successfully preserving historic character in legacy properties, many of which have been left for abandon.
MCRE also does land & ground-up development. Projects include the development of three separate industrial subdivisions in Northern Utah, several multifamily development parcels in SLC, and a nine lot riverside subdivision in Eden, Utah that included several high-design spec homes.