Salt Lake City: Official Development News Thread - Part 5

[Orlando]

New buildings under construction...
I just heard that there are 2 smallerish 7-story projects under construction. There is a new DB-Urban Aqui brand project going up just west of Cinq. If anybody wants to dig up the records from SLC, it should be a nice find. There is another Aqui project too, but I don't know if it is under construction, as well.

[locolife]

Originally Posted by Orlando

New buildings under construction...
I just heard that there are 2 smallerish 7-story projects under construction. There is a new DB-Urban Aqui brand project going up just west of Cinq. If anybody wants to dig up the records from SLC, it should be a nice find. There is another Aqui project too, but I don't know if it is under construction, as well.

Dang. Feels so slow...

[meman]

Speaking of slow, does anyone on this thread know when the next high-rise project downtown is slated to begin or has nothing at all been announced?

[Atlas]

Not much going on right now. Tallest thing under construction in SLC is probably The Edison. There are a few other apartment projects ongoing too.

High construction costs, softening apartment demand, and the new normal of hybrid/WFH has stalled a lot of big projects. Interest rates coming down more might help a little. Hopefully we see some movement with the SEG district and West Quarter soon, and I know there are other big things in the works longer term. The USA Climbing project is awaiting design review and will help catalyze the Rio Grande District.

[Makid]

We should hear about the Salt Palace, West Quarter, and SEG Entertainment District all this year. The Salt Palace will be late Summer to early Fall, West Quarter will be around the same time as the Salt Palace, SEG will be November to December I think.

The timelines of the Salt Palace and the Entertainment District are tied together. I am not sure about the West Quarter but as they are contracted to provide at least 1,000 parking spaces for the Salt Palace, we should expect them to be delivered around the time the reconstruction of the Salt Palace is completed.

[Atlas]

BSL breaking some news that Western Governors University might be moving to downtown SLC:

While the nonprofit college’s plans have yet to be released, the acquisition is a signal that WGU could be planning a move from its current location in Millcreek to Downtown Salt Lake City in what could be a major boon for that part of Downtown. The purchase would have likely cost upwards of $100 million, sources said.

https://buildingsaltlake.com/western-governors-university-buys-9-6-acre-assemblage-in-downtown-slc/

[RC14]

Originally Posted by Atlas

BSL breaking some news that Western Governors University might be moving to downtown SLC:


https://buildingsaltlake.com/western-governors-university-buys-9-6-acre-assemblage-in-downtown-slc/

This could be a big deal. That's almost the whole block, and it's a block that has that awful Sheraton surface parking lot.

[rockies]

Just my 2 cents but based on the fact they have ~1850 employees in Millcreek at their current HQ, I am guessing there will be 1 or 2 mid to high rise towers for the HQ replacement and the rest will be like more retail and open-space focused

I do not think they plan for an in-person campus or anything - just a replacement for their HQ now that they have grown to nearly 2000 employees

[wrendog]

Originally Posted by rockies

Just my 2 cents but based on the fact they have ~1850 employees in Millcreek at their current HQ, I am guessing there will be 1 or 2 mid to high rise towers for the HQ replacement and the rest will be like more retail and open-space focused

I do not think they plan for an in-person campus or anything - just a replacement for their HQ now that they have grown to nearly 2000 employees

How big is their current HQ a compared to the size of the downtown lot?

[jedikermit]

Originally Posted by rockies

Just my 2 cents but based on the fact they have ~1850 employees in Millcreek at their current HQ, I am guessing there will be 1 or 2 mid to high rise towers for the HQ replacement and the rest will be like more retail and open-space focused

I do not think they plan for an in-person campus or anything - just a replacement for their HQ now that they have grown to nearly 2000 employees

Is there a chance that they'll keep the same structure of the Sheraton Hotel and just renovate it to fit the needs of their offices? Don't underestimate the way education tries to save a buck (saying that as a Granite School District employee who worked in a renovated hospital for six years) -- even orgs like WGU.

[Comrade]

Originally Posted by jedikermit

Is there a chance that they'll keep the same structure of the Sheraton Hotel and just renovate it to fit the needs of their offices? Don't underestimate the way education tries to save a buck (saying that as a Granite School District employee who worked in a renovated hospital for six years) -- even orgs like WGU.

Would seem counterproductive if they're moving out of this space because it's outdated and then turn around to renovate a hotel into office space:



But maybe they want to be downtown...I don't know?

[rockies]

Comrade posted a good pic of the current Millcreek HQ^

Originally Posted by wrendog

How big is their current HQ a compared to the size of the downtown lot?

Their entire business park "the woodlands" sits on 19 acres (much of it green space and surface parking) and is ~460,000 sq ft of office and retail. They are not the only tenant tho. An SLC block is 10 acres and brief research tells me to expect 300-600,000 sq ft of office space for ~2000 employees

If I had to guess, I think non-contiguous and disconnected office suites would be one of their bigger issues. I have seen a good number of older office buildings where one tenant soaks up any suite that becomes vacant, but not all suites will become vacant, and that leads to disconnected and inefficient office layouts. I assume WGU has grown quite quickly and probably picked up whatever it could whenever it could

[i-215]

Originally Posted by jedikermit

Is there a chance that they'll keep the same structure of the Sheraton Hotel and just renovate it to fit the needs of their offices? Don't underestimate the way education tries to save a buck (saying that as a Granite School District employee who worked in a renovated hospital for six years) -- even orgs like WGU.

ESPECIALLY WGU. Their entire mission:

"Western Governors University is the nation’s leading nonprofit institution providing accessible high-quality education at a low cost."

I would absolutely believe they plan to renovate the existing building. Anyone consider that the landlord at their existing lease wants to jack up the rate for the next 10 years, making it financially viable to go buy this building instead?

[jedikermit]

Originally Posted by i-215

ESPECIALLY WGU. Their entire mission:



I would absolutely believe they plan to renovate the existing building. Anyone consider that the landlord at their existing lease wants to jack up the rate for the next 10 years, making it financially viable to go buy this building instead?

...and knowing what I know about WGU, and the friends I have who work for them...that's what had me asking the question. I obviously hope for something more interesting (and tall, and interesting)(and tall), but part of WGU's whole deal is doing things on the cheap. Not a bad thing, not a criticism, I just want to see more.

[mstar]

In the Building Salt Lake article - it says WGU has over 8300 total employees. I am not sure where they are all located. If their interest is to consolidate all employees into this downtown location - that could be a significant office building.

[wrendog]

Originally Posted by mstar

In the Building Salt Lake article - it says WGU has over 8300 total employees. I am not sure where they are all located. If their interest is to consolidate all employees into this downtown location - that could be a significant office building.

My guess is the majority are remote employees, especially faculty

[Makid]

I think it was the BSL article but if I recall, it was mentioned that the parcels that WGU has acquired would have cost around $100 Million. If that is true, I can't see them spending that large of an amount for 90% of a downtown block and then just renovating the current buildings.

I could see a phased approach work for the block. Focusing first on the SE corner of 2nd West and 4th South parking lot. With the coming Trax lines along 4th South (Red and Orange) in the next 5 or 6 years, that would be the ideal corner to focus on first for development with its proximity to the coming Trax station(s).

With the block being zoned D1, I would hope for something more substantial in height.

I do know that they are growing and want to increase their local employment footprint, so we may end up seeing many of the more remote employees either moving to the area or eventually be replaced with local talent as they migrate more to an in-office format.

Hopefully we will hear something soon about their overall plans and potential designs for the block.

[Comrade]

My cousin works for WGU and he lives in Texas so I am assuming there's a decent remote population.

[delts145]

In their latest December construction photo updates on Instagram this rendering is what jfisher company posted. There have been a number of iterations over the years. So is this actually an accurate representation? Anyone confirm? Seems a lot different and a big improvement from those last two renderings they released. I hope this is the real one and not just a preliminary bait and switch version.

The Edison is officially rising in downtown Salt Lake City, and what you’re seeing today is only the beginning. This apartment development will bring a new level of luxury living, modern design, and activated street-level retail to one of the city’s most vibrant corridors.
ㅤ
A future downtown destination is taking shape, and we’re proud to be building it.

https://www.instagram.com/p/DRxFwHvk9t0/?img_index=1

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[freeshavocado]

A building of that height would require steel construction, right? As I've driven past, the current construction appears to be wood framing over a concrete base. I'm guessing it's just the boring 5 over 2 design.