Triago Ventures is a full-service building and development company in the Greater Salt Lake Area. Headquartered in Draper, UT, the company was founded by Chris Miller in 2017 to develop multi-family projects. The founders of Triago have vast experience with developing and constructing multi-family projects. Chris Miller was involved in developing thousands of multi-family units. His portfolio of experience includes the development of 5,000 multi-family units across the Wasatch Front valued at over $700 million. The company’s management team is experienced in providing quality housing for thousands of Utahans over several years.
The management team of Triago, have been involved in the financing, developing and constructing of the following projects:
Foxboro Terrace, 180-unit, valued at $10.6 million affordable rate HUD 221 (d)4 with the tax credit enhancement apartment community in North Salt Lake, Utah; Parkgate, an 80-unit, valued at $4.1 million affordable rate HUD 221 (d)4 with the tax credit enhancement apartment community in Murray, Utah; Monarch Meadows, a 248-unit, valued $14.8 million conventional rate apartment community HUD 221 (d)(4) in Riverton, Utah; Towne Gate, a 288-unit, valued at $29.3 million affordable rate direct placement with the tax credit enhancement in Salt Lake City, Utah; Foxboro Terrace II, a 60-unit, valued at $4 million, HUD 221 (d)(4) Market Rate in North Salt Lake, Utah; and The Pointe @ 4800 (Frontgate), a 128-unit, valued at 12.6 million affordable rate direct placement with the tax credit enhancement in Murray, Utah. Farmgate, a 496 –unit, conventional rate apartment community HUD 221 (d)(4) in Herriman, Utah, the project was sold for $68 million; Timbergate, a 288-unit, sold for $45 million affordable rate with a tax credit enhancement, in Herriman, Utah; Egate, a 304 unit, sold for $41 million conventional rate apartment community in West Valley City, Utah.
In 2013, Triago’s management team were part of completing Fireclay Phase I in Murray, Utah, a 400- unit, $70 million conventional rate apartment community. Fireclay Phase II in Murray, Utah, a 268-unit $42 million affordable rate with a tax credit enhancement community; and Rosegate in Sandy, Utah, a 159-unit, valued at $26 million, active adult 55 and older conventional market rate apartment community.
In 2015, the management team of Triago was instrumental in the completion of Rosegate in Draper, Utah, a 277-unit, valued and sold after completion for $53.5 million, active adult 55 and older conventional market rate apartment community; Cobblegate in Sandy, Utah, a 416-unit, luxury market rate apartment community, the project was sold for $95 million; and Sagegate in West Valley, Utah, a 278-unit, apartment and townhome community sold for $55 million.
Triago Ventures currently has 5 projects in the construction and lease up stage: Sky at Brio 204 Senior units in the St. George, UT area financed through HUD, La Vida at Sienna Hills 270 market rate units in the St. George area financed through HUD, Red Rock at Sienna Hills 258 affordable units in the St. George area financed through RedStone and Aegon, TriView I 448 market rate units in Draper, UT financed through Principal Financial Services and TriView II 423 market rate units in Draper, UT (still in the process of securing the financing for project). Chris Miller and associates have 50% ownership in Sky at Brio and La Vida at Sienna Hills. He has 70% ownership of TriView I and TriView II. Red Rock at Sienna Hills is a LIHTC project. Chris has .01% ownership in that project but will be entitled to 90% of all operating cash flow generated by the project and entitled to 80% of any net refinance or sales proceeds.
Triago Ventures was established to developed multi-family projects, in which, Chris Miller and associates can create wealth through ownership in the projects they develop. The company’s business strategy is to find land, entitle the land for multi-family development, source financing for the development and provide Chris Miller and associates with ownership in those developments. In addition, Triago Ventures will generate revenue through developer’s fees that will result in a net profit for the company. Triago will earn on average approximately $3 million in developer’s fees per project.
Chris Miller is also the 100% owner of CJM Development, Inc, which will be the development entity for Richfield Apartments.