SITLA buys SunCor's interest in Coral Canyon community near St. George

The state's school trust lands administration has acquired SunCor Development's interest in the Coral Canyon master-planned community near St. George as a way to ensure the quality of the project as it continues to be developed.

Built on school trust lands that had been leased to SunCor, the Coral Canyon community will have 2,000 residential units when done. It also includes an award-winning golf course, open space and 250 acres of available commercial land.

SunCor developed Coral Canyon under a master development lease from the School and Institutional Trust Lands Administration, which, in turn, manages lands granted to Utah at its statehood for the financial support of Utah's public schools and other public institutions. Under the arrangement with SunCor, SITLA holds onto the land and gets paid for it at closing.

Kevin Carter, director of the school trust lands administration, said the Coral Canyon project has provided Utah's public schools and universities with more than $15 million in revenue since the partnership with SunCor began in 1999. The Deseret News