Salt Lake:Official development news thread

[delts145]

Wasatch, that little tutorial and accompanying pics totally got my heart racing. I saw for myself the other day as I drove around Provo. There's so many projects happening from I-15 to Provo Canyon,"it's very exciting." Again, as we have been discussing and you so astutely pointed out,"Incentives People, that's the answer" especially downtown.

Wasatch, did you ever tell us that you were interested in running for city council? That would be great if you did, and got in !!

Originally Posted by delts145

I think it is high time that Downtown, Salt Lake figured out ways to package attractive incentives for certain types of development projects,(iconic, 40 plus story towers.) We should be able to do it in much the same way that the State and Huntsman has been luring so many companies here, with attractive incentives and agressive lobbying.

Here's an interesting little article in this morning's paper on this very subject of Huntsman and the State's big push on packageing incentives. I'm sure we need to review our current downtown program and make many adjustments to better attract certain corporations and developers to accomodate their needs. This recently became very obvious with Utah's film industry, as we were loosing way too many film projects to other States, such as New Mexico, Louisiana, and so on. These were projects that would have normally gone to Utah, which is one of the country's handful of most preferred, secondary (outside Hollywood) filming locales. But, because other states had developed more attractive incentives, our state was loosing ten's of millions in positive cash flow. Anyway, we have corrected our incentives package and are once again retaining and bringing in many new projects.

http://www.deseretnews.com/article/1,5143,695236321,00.html

Originally Posted by SLCforme

I wouldn't mind that so much. Having different districts downtown is great. Often the part of downtowns with most of the tallest buildings are not the places with the happening nightlife and cultural amenities. It's the difference between the business district and the cultural district.

Originally Posted by leerjet

Precisely. I think we've seen alot of that in other successful cities... Look at the financial district in lower Manhatten or San Fran. The financial districts mostly shut down at night where other areas light up.

You're so right guys! You know I'm wondering if here in Downtown,Salt Lake it wouldn't be wise to make sure we layer our new blocks of towers. Say for example, a fairly large area between 700 South and 800 South, and West Temple and 200 West were found to accomodate a package of iconic towers. Layering, is a 'new speak' that many L.A. developers/planners use with Downtown L.A. in referring to an area being planned in such a way as to give it a genuine feel of a development-over-time-sequence, which has occurred over many decades. Instead of a 'business only district,' we would also mix in a generous amount of Victorian, Chateauesque,Art-Deco, etc. styles and dimensions that serve mixed purposes. I have never been a big fan of the sterile environment of business only districts, as is often the case in many downtowns. One of the things that I think gives downtown Salt Lake a leg-up over much of the competition in other States is having business towers located next to a Beehive Mansion or Hansen Planetarium,(O.C.Tanner). As those of you who are familiar with New York or San Francisco, these are the areas of the city most adored by residents and tourists alike. Wouldn't you all prefer to see new hotels,commercial, and residence towers of say varying heights, that are in the style of the Old Newhouse Hotel,City Hall, Boston Building, etc.( by style I mean real, not faux) interspersed amongst sparkling, Gehry and Safdie corporate towers?

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[Sight-Seer]

Here's a thought on the Sandy towers, if such a thing is ever built. We have these owners sitting on extremely expensive down-town lots. Are they going to want big buildings built in Sandy, or any other suburb? No. Because that would decrease the demand for anything that would be built on their lots and they would then have to sit idle for years. That would be an incentive to build something before the suburbs beat them to it. It's simple economics. Even rumors of suburban towers could spur speedier development downtown.

[delts145]

^^^

I would imagine that's definately a part of the picture Sight-Seer. Also, you would be surprised as to how many of these owners feel no need to budge for whatever reason. Many are so wealthy that they have no need of any new influx of cash flow, and honestly have the attitude exactly like this: "Well, if someone offers me enough for it then I guess I would consider selling." In other words, their asking price is way over the top of what the market will bear. I'm also suspicious of the tax issues on these properties. We really need to take a very hard look at our city laws to see what needs to be done to both encourage new business downtown and discourage absentee ownership/vacant properties.

Let's say we want a top Fortune 500 corporate tower. Okay, what will having that type of structure and accompanying several thousands of office workers generate for downtown. What in short, will be all future money making profit potential for Salt Lake City? What will the incentive package cost Salt Lake bottom-line, to lure a mega-corporate headquarters to Downtown? Is the cost out-lay a much lesser factor, than the future profit benefits which will occur as a result of this major company locating to and establishing itself downtown. Will the covenants adherred to in the incentive package give the Fortune 500 company a very attractive package up front, and Salt Lake City a huge profit generating engine long-term?

I'm am positive that bright minds, who are savvy to these specific questions can create packages that will cause Downtown Salt Lake to flourish in much the same way that the metro business parks are as a whole. After all, the Wasatch is at the top of the heap in all of the Country now in attracting new job growth and expansion. Infact, that makes me realize that we have so many companies right now, who have just located here, or have grown-up here. What the cryin-out-loud are we doing to do to get them downtown. Hey, what incentive packages do we have that say very loudly, Sandy???? Forget that, you need to be downtown!!!

Of course, as has been suggested, we don't want everything downtown. But, what is a much smaller metro like say Calgary doing that we aren't, to attract so many business towers downtown? Again, we need to revisit our incentive packaging, just like the State has in luring Hollywood and Corporate American to the Metro in general. Like one forumer pointed out very clearly, it isn't just a matter of State vs. State anymore, it's also now City vs. City, even within the same metro!!


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[Comrade]

You can't compare Provo to Salt Lake. The buildings going up in downtown Provo are not much different than the buildings going up in the Salt Lake suburbs or downtown Salt Lake. And let's not forget that the city gives loans out to businesses who relocate and build downtown. That was a big reason why KUTV left their suburban studio and moved to Main Street and I believe the loans are going to Hamilton Partners, as well. So the city is putting money into all of this, it's just right now there hasn't been explosive development.

I don't know why Sandy is getting this proposal, but I'm guessing a lot of that has to do with the fact it's cheaper to build out there. The land in Salt Lake is expensive, so it's not surprising that there are stories about commercial towers possibly being built outside of the core. However, I'm not going to freak out just yet, because there are a lot of things that will need to come together for this to happen and right now, I don't see this project as being that realistic under the current circumstances.

The city has done pretty much all it can do in trying to get buildings downtown. They've offered loans, they've put plans out there and they've tried wooing businesses to relocate downtown. Sometimes, though, you just lose out.

[Wasatch_One]

Obviously Provo is on a much smaller scale than SLC, but it is still fighting the exact same battle. It compares very much to SLC's situation. I think there is more that SLC can do to bring more of these things to DT SLC.

Right now Provo is battling Pleasant Grove for Utah County's first major convention center. PG made it seem like all was in order, even announcing that they broken ground on their CC and adjoining hotel back in August.... but, things are not always as they seem (as nothing else has happened in 4 months other than flattening out the dirt lot.)

When it comes down to it, Provo (and SLC) have way more to throw at developers then these smaller suburbs. The question is, are they willing to be creative about it? (as Provo was with the Provo City School district giving some at first to make it work, and then gaining a LOT more after the first 10 years.)

[urbanboy]

Another encore for 'High School Musical'
Theatrical film version will be shot at Salt Lake City's East High School

http://www.sltrib.com/news/ci_7729118

[Comrade]

Originally Posted by Wasatch_One

Obviously Provo is on a much smaller scale than SLC, but it is still fighting the exact same battle. It compares very much to SLC's situation. I think there is more that SLC can do to bring more of these things to DT SLC.

Right now Provo is battling Pleasant Grove for Utah County's first major convention center. PG made it seem like all was in order, even announcing that they broken ground on their CC and adjoining hotel back in August.... but, things are not always as they seem (as nothing else has happened in 4 months other than flattening out the dirt lot.)

When it comes down to it, Provo (and SLC) have way more to throw at developers then these smaller suburbs. The question is, are they willing to be creative about it? (as Provo was with the Provo City School district giving some at first to make it work, and then gaining a LOT more after the first 10 years.)

What can it do outside of providing loans and being business friendly? I guess the city could buy the land for the developers, but I doubt we have the budget for that. You can compare Provo to SLC all you want, but you're forgetting that Salt Lake is still winning its fair share of battles with the suburbs. They're not going to win every single battle, as Provo won't either, but right now, I'm not going to panic.

[Scraperdude801]

Originally Posted by Comrade Reynolds

You can't compare Provo to Salt Lake. The buildings going up in downtown Provo are not much different than the buildings going up in the Salt Lake suburbs or downtown Salt Lake. And let's not forget that the city gives loans out to businesses who relocate and build downtown. That was a big reason why KUTV left their suburban studio and moved to Main Street and I believe the loans are going to Hamilton Partners, as well. So the city is putting money into all of this, it's just right now there hasn't been explosive development.

I don't know why Sandy is getting this proposal, but I'm guessing a lot of that has to do with the fact it's cheaper to build out there. The land in Salt Lake is expensive, so it's not surprising that there are stories about commercial towers possibly being built outside of the core. However, I'm not going to freak out just yet, because there are a lot of things that will need to come together for this to happen and right now, I don't see this project as being that realistic under the current circumstances.

The city has done pretty much all it can do in trying to get buildings downtown. They've offered loans, they've put plans out there and they've tried wooing businesses to relocate downtown. Sometimes, though, you just lose out.

DT could re write their zoining laws to allow for taller buildings mid block so developers who got hold of this expensive land didn't have to worry so much if they are on a blocks corner. ... If I remember hearing correctly, the reasoning for the mid block heigth restriction was to keep salt lake from looking like a bunch of cereal boxes propped up. ... Ironically that is what it looks like now.

[Comrade]

Originally Posted by Scraperdude801

DT could re write their zoining laws to allow for taller buildings mid block so developers who got hold of this expensive land didn't have to worry so much if they are on a blocks corner. ... If I remember hearing correctly, the reasoning for the mid block heigth restriction was to keep salt lake from looking like a bunch of cereal boxes propped up. ... Ironically that is what it looks like now.

I doubt that has hindered growth, as the city is rather flexible when it comes to developing mid-block high-rises.

[delts145]

This is a concept I would like to see repeated over and over again in our metro.

Reservoir to do double duty

http://www.deseretnews.com/article/1,5143,695236530,00.html

When it is completed, the Blackridge Reservoir — a seven-acre secondary irrigation pond being built by Herriman and Riverton in the Rosecrest area of Herriman — will supply Herriman's new secondary irrigation system and bolster Riverton's water pressure. With a sandy beach, freshly stocked fish and an open invitation to go swimming, the reservoir also is expected to become an aquatic oasis on the west bench.


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[SLC Projects]

Originally Posted by Viperlord

RDA state street SRO property
Floors: unknown
Height:early mass modelings showed two twin 180' tall towers.
Address: 241-255 South State Street
Other:mixed-use development could be built on the old SRO hotels sites. RFPs will be released in about 1 week. in planning stages.

That was a few weeks ago. Has there been any update on this project?

[Viperlord]

The timeline was released. nothing really new was learned. The developers competing for the RFP will proposed their proposals to the RDA in the fall or winter of 2008. so, we wont know much more until then.

[arkhitektor]

Is this where the Regis apartments are now?

[SLCforme]

yes

[Viperlord]

here is the link for the SLC RDA RFP....

The lot consists of 1.1 acres, and houses 3 SRO hotels. The agency wont take anything less than 3 million dollars for the property, and additional payment is encouraged.


http://www.slcrda.com/Second/Request_for_Proposals/Block_56_RFP_2007_final.pdf



So, its anyones guess what could go on the lot.

I have a hard time imagining that someone would buy the lot for 3 million and renovate the SRO hotels. I think if you are going to buy a 3 million dollar lot and make it profitable you are going to have to build up, and dense.

[Orlando]

I think this is a possibly good example of how SLC through their RDA can fight against the Sandy, and others to win over developers.

[delts145]

Kennecott sitting on a development gold mine

http://www.deseretnews.com/article/1,5143,695237098,00.html


Tom Smart, Deseret Morning News

With half of the county's remaining developable land in hand, and another 40,000 acres of undevelopable acreage on the side, Kennecott Land is poised to change the face of the west bench...

Metro Salt Lake development will next target Oquirrh foothills

http://www.sltrib.com/ci_7748984


The University of Utah's Bureau of Economic and Business Research released its 50-year snapshot of west bench development Monday, showing that Kennecott's property - stretching from Magna to Herriman - someday will house a quarter of Salt Lake County's population and produce $480 million in taxes annually


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[airhero]

*delete*

[wrendog]

that picture with all the roads and infrastructure is looking like certain planned communities in CA and FL that never came to fruition. Back in the 60's, master planned communities like California City were the rage. They built roads a plenty and then the people never came. It's weird to see these ghost cities (around the salton sea and in the mojave) in google earth. SW Fl has some as well. Check it out.

Not saying this development will end the same way, but the pic sure reminded me of them.

[Comrade]

That picture makes me want to puke.