
That is fantastic news regarding both the Gallivan Center and the Utah Theater.
While the Gallivan is just cosmetic changes it will still add to the attractiveness of downtown, it's not like people don't come in hordes to the Twilight Concert series anyway, but now those that attend and actually care about seeing the performers will be able to do so. I attended last week, but really just as a social thing, a place to meet friends and I actually don't even recall any of the music, but it was still a good time. Gallivan is a jewel in the crown of our downtown and these improvements will just make it that much more illustrious.
As for the Utah Theater being turned into a film center all I can do is

While I'm guessing Sundance has made no commitments to using the Utah, I don't see why they wouldn't. As Delts said, Park City is busting at the seems and I honestly anticipate the Utah being a site for at least one or two large premiers each year, it is larger than the Egyptian, yet still has a unique historic appeal to it, not to mention that downtown SLC is much more equipped to handle the large crowds associated with these premiers. With CCC and it's high end shopping, Utah Performing Arts Center (2,500 seat theater) on the same block of Main, a high end boutique hotel steps away (Monaco) and a newly renovated Gallivan Center a block down, this will be a prime location for Sundance FF expansion.
SLC will be hitting a critical mass of recently completed renovation, refurbishment and new construction just as the economy recovers. Sounds like it'll be a perfect time to party.