Salt Lake:Official development news thread - Page 64

Scraperdude801 · #**1261** Posted **Apr 2, 2007, 1:37 AM**

that's soooooooo weak. I officially hate HP. If HP wasn't saying they were going to build this tower forever we would probably have a bigger tower from a different company already. It is going to be smaller than the american tower condos? Damn. That is bullshit. I was thinking it was only gonna be around the size of One Utah.

I could imagine building a tower is alot of hard work, but why do they keep changing their plans?

Viperlord · #**1262** Posted **Apr 2, 2007, 5:01 AM**

trolley square open house....

http://www.slcgov.com/ced/planning/documents/RecentProjects/oh_4100704.pdf

delts145 · #**1263** Posted **Apr 2, 2007, 12:30 PM**

^^^
I was in Trolley Square the other day and spoke with a couple of business owners. Its pretty obvious that the redevelopment of this city jewel is long over-due. I've felt for some time as I'm sure most Wasatch forumers have that Trolley Square is under-developed.
The recent tragedy at Trolley makes it's rebirth even more critical.

Sight-Seer · #**1264** Posted **Apr 2, 2007, 1:38 PM**

ScraperDude,

Office floors are way bigger than residential, so the HP building will probably be taller than American Towers, even though AT is 25 stories tall. When you design a building, you have to have someplace for people to park. Maybe the small area prevents it from being any higher. That site is kind of shallow.

wrendog · #**1265** Posted **Apr 2, 2007, 2:47 PM**

23 stories at 313' doesn't sound right... I was hoping for 350'+.... oh well, at this point, i just want something to be built.

SLC Projects · #**1266** Posted **Apr 2, 2007, 3:52 PM**

Quote:

Originally Posted by wrendog

23 stories at 313' doesn't sound right... I was hoping for 350'+.... oh well, at this point, i just want something to be built.

I agree. We all waited what seems like a lifetime for 222 South Main to break ground. I think at this point I'll even settle for a 10 story building to be build on that site. Hell anything is better then just a one story store fronts and a parking lot behind it.

If it's 23 stories great lets build it.
If it's 21 stories ok lets build it.
If it's 20 stories fine whatever just build it already.
If it's 15 stories that sucks. F it just build the damn thing already before i get too old and die.

All in all I just want it build already. We want far to looooooooooooonnnnnnng for a building that isn't even a top five tallest to be build.

delts145 · #**1267** Posted **Apr 2, 2007, 5:14 PM**

Do you guys agree that the Very Upscale Class A office boom throughout the greater Metro area in various business parks is dampening the ability for HP to lease out their space? Seems like there's a lot of new office buildings going in around the metro.

Comrade · #**1268** Posted **Apr 2, 2007, 6:39 PM**

Quote:

Originally Posted by PrettyGreatState

ScraperDude,

Office floors are way bigger than residential, so the HP building will probably be taller than American Towers, even though AT is 25 stories tall. When you design a building, you have to have someplace for people to park. Maybe the small area prevents it from being any higher. That site is kind of shallow.

If it's 313 feet, it'll be smaller than the American Towers, which are both 324 feet. Let's not forget that the Zions Bank Tower is only 267 feet at 18 stories, so a 22 story, 313 foot tall tower isn't that rare.

Scraperdude801 · #**1269** Posted **Apr 2, 2007, 8:28 PM**

Of course I will be happy if they finally build it, but 313 feet is actually a rather small building. I was hoping it would be a big building so there would be that clump of One Utah, Wells Fargo, and HP with some smaller highrises around the three like the Walker Center, the American Towers and Hotel Monaco... oh well... I will be happy as most when this thing replaces the one story stucco that is currently there. Something is better than nothing. ...

SLCforme · #**1270** Posted **Apr 2, 2007, 10:49 PM**

Quote:

Originally Posted by delts145

Do you guys agree that the Very Upscale Class A office boom throughout the greater Metro area in various business parks is dampening the ability for HP to lease out their space? Seems like there's a lot of new office buildings going in around the metro.

yes. I think this is the case and have said it before too. a highrise downtown is going to have higher lease rates than a lowrise in the burbs. So unless a company really wants to be downtown they'll go for the cheaper lease.

SLC Projects · #**1271** Posted **Apr 2, 2007, 11:55 PM**

Quote:

Originally Posted by delts145

Do you guys agree that the Very Upscale Class A office boom throughout the greater Metro area in various business parks is dampening the ability for HP to lease out their space? Seems like there's a lot of new office buildings going in around the metro.

I think that is true. Just look at Sandy and South Jordan just off of the I-15 and 10600 south. There's tons of office buildings getting build in that area. Tons of new Business parks. There's one in South Jordan that has a row of Office buildings. ( Six buildings From 3 stories to 5 stories. ) Just think if those buildings were stack on top of each other and were build towndown. That would of been a 26-story building right there.

So yes I do think that Business Parks are hurting and taking business away from downtown.

delts145 · #**1272** Posted **Apr 3, 2007, 12:15 AM**

I agree, and also look at the number of Class A at the Cotton Heights I-215/ Holiday Exit, and I understand a very swanky Class A park is going in at the pointe on the Draper side. Of course, we won't even talk about the pointe on the Lehi side.

delts145 · #**1273** Posted **Apr 3, 2007, 7:33 AM**

Salt Lake office building is bought / Will be renovated

By Dave Anderton
Deseret Morning News
A Los Angeles company is purchasing the American Plaza I office building in downtown Salt Lake City for $6 million.
The five-story structure, located on the corner of 200 South and West Temple, will undergo a remodeling of its lobby and an exterior refurbishment, according to Phillip Dunn, director of real estate for BH Properties.
The building is currently 20 percent occupied and includes an Olive Garden restaurant, architectural firm and engineering firm. Tenants will stay in the building during the remodeling, which will begin immediately and finish by the end of this year.
"We are going to rename it and be making some architectural changes," Dunn said. "We are really going to dress it up. It's been neglected."
Dunn said BH Properties had been looking for a class B office property for some time in downtown Salt Lake City. Office properties are categorized in three main areas, with class A office space typically commanding the highest lease rates.
Collin Perkins, principal with NAI Commercial Real Estate Utah, said downtown class B office space is plentiful.
In the first three months of this year, the downtown class B office vacancy rate was 15.33 percent, higher than the class C vacancy rate at 13.56 percent and the class A rate at 1.4 percent.
"There is usually a bigger supply of class B just because of time," Perkins said. "A class A building 20 years ago is probably now a class B building."
BH Properties' most recent acquisition in Utah was an 118,000-square-foot corporate office building valued at $12.5 million in The Riverwoods in Provo.

wrendog · #**1274** Posted **Apr 3, 2007, 2:38 PM**

great.. so instead of getting new A towers downtown, we are just going to see a bunch of investors renovating B's.

Makid · #**1275** Posted **Apr 3, 2007, 2:49 PM**

If it gets more people downtown and out of business parks in the burbs, I am all for it. Because when those companies expand, they will want to be close to where they are. Also, it would encourage more people to move downtown which inturn leads to higher demand for residential, which leads to higher commercial demand, which leads to density and more towers...so I say "bring on the renovation".

Viperlord · #**1276** Posted **Apr 3, 2007, 6:09 PM**

Change of Plans for Living Planet Aquarium

http://www.ksl.com/?nid=148&sid=1063325

aquarium to leave downtown???

delts145 · #**1277** Posted **Apr 3, 2007, 6:22 PM**

Quote:

Originally Posted by Makid

If it gets more people downtown and out of business parks in the burbs, I am all for it. Because when those companies expand, they will want to be close to where they are. Also, it would encourage more people to move downtown which inturn leads to higher demand for residential, which leads to higher commercial demand, which leads to density and more towers...so I say "bring on the renovation".

I very much agree with your line of thinking Makid. I was surprised to learn that the American Plaza I building was only 20% occupied. It's a very attractive building from the exterior, and was when first built a Class A structure. Its definately a smart move to bring it up to Class A code and shouldn't be much of a stretch. Once completed, it should help to generate to the over-all snowball effect.
This is an easy to bring to the table, Class A structure, and should come on line quickly. Otherwise, that Class A business will go out to the metro.

wrendog · #**1278** Posted **Apr 3, 2007, 7:01 PM**

interesting... so, who's going to pony up the free land for the aquarium? Tooele?

Comrade · #**1279** Posted **Apr 3, 2007, 8:10 PM**

Yet another development that spurns downtown for the suburbs.

What a joke.

My guess, it'll be built in Sandy.

SLCforme · #**1280** Posted **Apr 3, 2007, 9:13 PM**

My guess is that it won't be built at all. they really expect donated land and to raise, what was it $34 million, from private donations. I doubt it. with all the scandle that is going on, I doubt any investors will have enough confidence in them to invest. Maybe I'm wrong. If it does get built it almost certainly will be in the suburbs and wont happen for years.