Powell Development Group is dedicated to transforming communities through thoughtful, sustainable development. We strive to create innovative residential and commercial real estate solutions that meet the needs of today’s residents and businesses while enhancing the neighborhoods we serve.
Powell Development Group focuses on unlocking the full potential of underutilized urban properties through strategic infill development. These prime locations are in high demand due to their proximity to jobs, services, and infrastructure. By concentrating on infill projects, we minimize the risks associated with sprawl and greenfield development, such as extended permitting timelines, higher infrastructure costs, and lower market demand.
Our strategy is driven by a deep understanding of market demand, particularly in Salt Lake City, where rapid population growth has led to a significant housing shortage. As one of the fastest-growing metropolitan areas in the U.S., Salt Lake City attracts people with its strong economy, high quality of life, and access to outdoor recreation. However, this growth has outpaced the construction of new housing, creating a serious imbalance between supply and demand.
By leveraging our expertise in land entitlement, design, and construction, we maximize investor returns while adhering to smart growth principles. Our disciplined approach balances risk with opportunity, ensuring every project delivers lasting value for all stakeholders.
We seek properties in high-demand areas with strong growth potential, focusing on infill locations that are close to transportation, amenities, and employment centers.
Targeting sites where zoning or entitlement work has potential for added value through densification or rezoning for higher use, ensuring efficient project timelines.
We analyze market conditions to identify areas where there is an unmet demand for townhomes or multi-unit residential developments, aligning projects with demographic trends.
Prior to acquisition, we conduct thorough due diligence on infrastructure, environmental conditions, and existing structures to ensure cost-effective and timely development.
Ensuring projects align with our investor’s risk appetite and return expectations, targeting a balanced portfolio with projected returns of 15%-20% IRR to our limited partners.
Founded in February 2023 by Drake Powell, Powell Development Group (PDG) is a forward-thinking real estate development firm based in Salt Lake City, Utah. The inception of PDG was marked by the strategic acquisition of a .97-acre property in Salt Lake City, originally a single-family home that had suffered substantial fire damage. In collaboration with TAG SLC, PDG led all aspects of entitlement and design, successfully rezoning the property from R-1-7000 to RMF-30. This critical rezoning paved the way for the development of a 21-unit townhome project.
PDG’s mission is to identify and transform underutilized properties into vibrant, high-quality residential communities. Since its founding, the firm has expanded its portfolio to include several additional infill townhome development projects in Salt Lake City.
Drake Powell is a seasoned real estate development professional with a background in land entitlement, design, permitting, and subdivision creation. With several years of industry experience, Drake has played a pivotal role in the successful development of over 150 townhome units throughout the Salt Lake City area during his tenure with TAG SLC, a leading local development firm. His comprehensive expertise is further strengthened by five years of hands-on construction experience, giving him a unique and practical perspective on the entire development process.
Drake’s academic credentials include a Bachelor of Science in Finance and a Master’s Degree in Real Estate Development, both from the University of Utah. His deep understanding of finance, combined with his practical experience in construction and development, positions him as a leader capable of guiding projects from concept to completion with precision and care. Under Drake’s leadership, Powell Development Group continues to grow, driven by a commitment to quality, innovation, and the revitalization of urban spaces.
