Salt Lake:Official development news thread

[T-Mac]

I just heard a rumor today at work from some clients that say that the Marmalade project is bankrupt. The bright spot from what I heard is that there are a couple of developers that are bidding on it. Granted this is only a rumor and I have no facts to support it, but it makes more sense to me since there has been no activity at that site since late August of last year. It will be interesting to keep on eye on this to see what happens with it, if this turns out to be true.

[Future Mayor]

Originally Posted by urbanboy

Blueprint expanding for SLC's 'Downtown Rising'
By Derek P. Jensen
The Salt Lake Tribune

New in the blueprint: The possibility of stretching residential units across dilapidated Regent Street, anchored by ground-floor specialty shops. There also could be a new condo tower on the corner of Regent and 100 South, directly across from an entry point to City Creek Center.
Stakeholders also are contemplating the relocation of the Salt Lake Arts Center from the Abravanel Hall plaza to a lot across from the Gallivan Center on Regent and 200 South. That could create space near Abravanel for a Broadway-class theater that arts insiders say would create a mini-Kennedy Center adjacent to the Salt Palace Convention Center.

"Downtown Salt Lake City, pound for pound, has more going on than any city in America."

http://www.sltrib.com/news/ci_8704010

I don't think that is a huge exaggeration.

Seriously if I could post my plans for my first project you would all honestly PISS your pants with excitement. I need to hurry up though because others are moving in on my turf.

[Scraperdude801]

Originally Posted by urbanboy

I would like to see 400 S. reduced to 2 lanes in each direction rather than three, using the outer lanes on each side as space for trees (tree-lined street) and bicycle trails. This could create a buffer for pedestrians on the sidewalk, from cars on the street, and provide space for a designated bicycle path. This main thoroughfare with three lanes is not needed in Salt Lake City; we have interconnected streets that spread the traffic out. Trying to designate this road as the main thoroughfare to the University, actually creates too much traffic along that corridor at the expense of having too little traffic on the other roads, hurting businesses on those roads. 400 South can still be a Grand Boulevard even if it only has two lanes in each direction. South Temple only has two lanes, and it is a Grand Boulevard. Furthermore, think how much better 400 South could look with mature trees lining both sides.

I think that is a brilliant idea, and I couldn't agree more.

[TimeSaltlake]

wow. I saw "conceptual" drawings of what they want to do with Regent Street. Def. more condos. The Forum should have been longer. They rushed it in the end.

Gateway.

Time line that they gave was Construction to start April this year on both the Hyatt and the Office tower and finish sometime in 2009.

They briefly mentioned the residential units. They are in planning stages.

CCC.

First the two ten or twelve (I cant remember the number) story towers will be built. The ones on south temple by 2010

2nd the 20 story tower on the zcmi block 2011

3rd the "30" story tower. I say 30 because that is what they said, not the 32 I am familiar with. 2011

Tower two was stated to be "20" stories and would be built according to absorption of the other units.

The 40 story tower on Social Hall was called/addressed as an office building. No comment or mention was made of it having or being residential. I thought it was residential but at the Forum it was Commercial.

Hotel

they vision the Hotel on the west temple and 1st south, in front of the Salt Palace main entrance. No renderings, only a vision.

WTCU

Nothing-

Regent Street and etc...

The portion of Regent Street that is in the CCC will be accessible to Cars.

They really stress wanting to put residential on the block south of ZCMI block.
-The "Concept" showed residential structures where on 1st south. And two other residential building on the south part of that block (where that abandoned restaurant and the carls jr. are) No height.

they also want to connect Regent to Main Street Half way through the block. 150 south or so. The Concepts show a walk way.


The meeting was rushed because they took their sweet time in the beginning, so after the ccc presentation, it was just go go go. and the breakfast was fruit and pastries. God knows I only go for the food

Sorry if the spelling sucks

[UTPlanner]

I do not agree that 400 South should be shrunk down at all. It carries a very high volume of traffic. I realize with the local grid system there are other options but I would rather see 400 South retain its six lanes than to see other streets like 200 South or 300 South to lose their charm and become overburdened with traffic. Besides I do not think that having a wide street is what makes 400 South appear boring and utilitarian. It is the design of the pedestrian areas and the surrounding commercial and residential development.

Look at the Champs Elysses in Paris it is far wider than 400 South in certain parts, but does not appear as wide because of a few factors. One is that having taller buildings on each side makes a street appear more narrow. Also, including landscaping as a buffer between pedestrian areas and vehicular areas also makes a street to appear more narrow than it really is.

Oh, and speaking about convention hotels. Generally hotel chains contact convention centers to ensure that they are listed in the publications advertising the Salt Palace. In fact, these hotels pay to have their establishments advertised. I realize that their relationship is symbiotic but thankfully the convention center has the upper hand. Though Mr. Holding's hotels are not adjacent to the Salt Palace you better believe that when a large convention i.e. Outdoor Retailers are in town that all available hotels in downtown SLC are completely booked. I am definitely not an expert on the hotel industry and I could not say whether or not I believe SLC needs another hotel downtown, but if one is to come I would much rather see it on West Temple. I'd rather that visitors see the pretty side of the Salt Palace. (Or should I say prettier side. I love public art but the windmills...well they're not my favorite.)

[TimeSaltlake]

and before I forget, The guy talking about the CCC made a comment refering to the average price of a condo in SLC (226,000) implying that living in the CCC will not be cheap.

Alot of focus on the two blocks south of the ccc. alot!!!!!!!

[NYC Rick]

That would be the steal of the week...make that decade or much longer here.

I think that it would be in most of the metro areas in the East.

Tempting...tempting.

These condos, though sponsered by the LDS church, are open to anyone right?

I mean, there would have to be interviews and passing the condo board etc but they are not aiming to load up on LDS only are they? I am not saying they cannot do what they want to fill the buildings with those who are more affiliated to their religion but it would be great if they are integrated and non affinity based.

[TimeSaltlake]

let me clarify, the $226,000 is the average for the condos in slc. This will probably not be close to what they ask. Sorry if I insinuated other wise.

[Viperlord]

I will post my official information when i get home... pdf forms from the meeting.

[TimeSaltlake]

Viporlord. I really really love you. I think Im still high from that meeting

[TimeSaltlake]

did you have a tie and a coat when you left. I think I might have seen you.


okay, im done.

[Scraperdude801]

I love the ideas for regent street, I always walk home through that route and always imagine condos and retail there. I am also a huge advocate of opening that block up to main street. Orpheum avenue (i think is what it is called) goes from regent to state street, it would be cool to see it go all the way to main street. ... I love the fact that salt lake is finally understanding mid block streets!!!! this is very exciting. .. currently regent street is the deseret news building, and a bunch of parking structures, very under utilized. to the future! ...

100 south is going to look pretty cool in five years with the new towers assuming they all happen. Tower 5, tower 2?(by the marriot), First security/deseret building, cowboy partners 40 stories, residential tower on regent street and 100 s., ... possible glass tower on main and 100 s. , that 18 story tower that probably won't happen on 200 E. and 100 S. ... not to mention the historic sandstone brownstone, the zions bank building, the Mccormick building? , and oh yeah the vision of the Salt palace convention center hotel on west temple and 100 s. ... WOW 100 S. will be like tower central! ... assuming everything happens.

[ski_steve]

Metro Condos and 4th South

From today, pictures by me


The Metro Condos look like they are nearing completion Looks like a really nice building and will bring more residents to downtown.





The Metro and burger king




There has been some talk on what 4th South should be, so here are some pics just cause I was there. Oh and Urbanboy, I noticed 4th S has trees all along the street, they just look dead and arnt very prominent on the small side walks.

Looking West from the Library




Looking towards the U of U on 4th South.







I like the idea of bars and clubs for students and such, but I think it would be better if all of that was really concentrated downtown. I do think it would be nice to have the street narrowed to 2 lanes in each direction, and have more trees, benches, larger sidewalks, etc..

[wrendog]

I want renderings! I want renderings! I know you said there was no height associated with the regent street residentials, but you said you saw the coneptuals. How tall did they look?

Nice pics steven!

[Viperlord]

I never was at the meeting, I just have insider sources to get my materials

Downtown Economic Forum March 26, 2008

DOWNTOWN ECONOMIC FORUM

2007 ECONOMIC BENCHMARK STUDY
SALT LAKE CITY’S CENTRAL BUSINESS DISTRICT
EXECUTIVE SUMMARY

PREPARED BY JIM WOOD,
BUREAU OF ECONOMIC AND BUSINESS RESEARCH,
David Eccles School of Business, University of Utah

Over the next five at least $1.5 billion will be invested in Salt Lake City’s Central Business District. This investment includes the largest project ever developed in the CBD, City Creek Center with 750 residential units in five residential towers and 731,000 square feet of new retail spread over 20 acres.
Although the preparation for City Creek Center has resulted in some economic disruption and dislocation, which has affected downtown employment growth, the CBD economy remains one of the most significant economic and employment centers in the state. In 1990, there were approximately 49,000 employees with in the CBD. This number increased to nearly 61,000 in 2001. Currently within the CBD’s forty block area there are nearly 65,000 jobs paying $2.3 billion in wages. Only four counties and two cities—Salt Lake which includes the CBD and Provo—have more employment and wages than the CBD.
The CBD has 12.7 million square feet of office space comprised of 7.8 million square feet of leasable space and 4.9 million square feet of government, institutional and owner occupied space. Over the past two years demolitions and changes in use have reduced the CBD’s office inventory from 13.3 million square feet in 2001 to 12.7 million square feet. The reduction in the inventory combined with increasing demand for Class A office space has resulted in low vacancy rates for the CBD. The vacancy rate for Class A office space is less than 2 percent.
Despite the phasing out of retail at Crossroads Mall and the ZCMI Center, retail sales in the CBD set a new record in 2006 of $555.1 million, breaking the record set in 1996 of $550 million. In 2001, retails sales totaled $373 million. Restaurant sales, by far the largest category of sales, accounted 49 percent or $271 million of retail sales activity in the CBD. This amount is more than double the $108.0 million in restaurant sales in 2000.
The development of City Creek Center will replace 1.2 million square feet of retail in the Crossroads Mall and ZCMI Center with 731,500 square feet of new retail. At completion of the City Creek Center in 2011 the CBD will have about 3 million square feet of retail space.
The CBD’s eight cultural and entertainment venues; Abravanel Hall, Capitol Theater, Rose Wagner Center, Clark Planetarium, EnergySolutions Arena, LDS Church Family History Library, Museum of Church History, Salt Lake Arts Center, and Discovery Gateway had over 3 million in attendance in 2007.
The CBD’s hotel occupancy rate is 75 percent, the highest since 1997. In 2006, conventions headquartered at the Salt Palace accounted for 302,000 room nights. The spending of the convention attendees at these conventions totaled $108 million.
In 2006, retail sales and lodging in the CBD generated $42.6 million in taxes for the state, Salt Lake County and Salt Lake City.
The CBD has a housing inventory of 3,700 units. These units provide housing for 3,600 households and 7,500 people. When the CBD is combined with the periphery, the housing inventory expands to 15,200 units and the population to 28,000. Rental units account for 77 percent of the housing inventory however in the past two years the share of owner occupied units has increased with the development of a number of condominium projects.
In 2008, approximately 900 new or renovated condominiums units will be added to the housing inventory of the CBD/Periphery. The new units will increase the inventory of condominiums units From 2,000 to 2,900, a 45 percent increase. New condominiums units are typically selling for $300 to $350/square foot while older or renovated units sell for $225 to $250/square foot. Demand for downtown housing is related to the CBD’s proximity to a large employment base and the availability and diversity of commercial, cultural and retail amenities.

[wrendog]

Wow! I see a few towers there:

3 office towers! (one 300-500k sq ft, one 325k sq ft and one 250k sq ft)
2 Hotels! (one 400-800 room and one 200 room)
3 residential towers! (one 50 units, one 120 units and one 140 units)

That would be awesome! What are the chances of this being reality?

[RFPCME]

All:

I drove into Atlanta today on business went through the Buckhead district. For those of you who are familiar with the Atlanta metro area, you will know Buckhead is a very highend retail, residential, and business district, about 5 miles due north from downtown.

There is an explosion of tall buildings all over the metro area, but the Buckhead area is unlike no other area I know in the US. The link below is to a mixed use (primarily condo) tower that is nearing completion. At just under 700 ft, it is the tallest building in the area, although there are several buildings in the 400-500 ft. range.

The reason I wanted to draw attention to Buckhead is because it is about the same geographic area as the CBD in Salt Lake. The architecture is a mix, from the neo-classical highrise condos, to the sweeping modernism of the Sovereign (the link below), to the radical avant guard that is much more typical of Mid-town Atlanta. Amazingly, it all works together, unlike Mid-town Atlanta (which contains one of the world's truly depressing buildings--the Coke Tower--and one of the better examples of 90's iconic towers--the Bank of America Tower; hate the bank, like the building).

As the CBD of Salt Lake undergoes a dramatic transformation, I wish the designs of highrise buildings somehow reflects the soul of the city, such as the Buckhead district seems to do. Possibly, I'm wrong thinking the high-rise architecture I have seen so far that is currently underconstruction is less than inspiring. Quite reasonably the high-rises near Temple square should reflect the dignity of the area. But it would remarkable if high-rises farther south in the CBD struck awe and reflected the hope and optimism of the people of Salt Lake--not something to match the Wasatch Mountains but something to complement them. The Sovereign (see the link below) in Salt Lake would be a good example, although it would need to be in the 450-500 ft range.

Sovereign
website: http://www.sovereignbuckhead.com













[IMG]www.sovereignbuckhead.com[/IMG]

[Orlando]

I've been to Atlanta a couple times in the last year, and I lived there for about 6 years before then. There definitely is a lot of building going on in Buckead, and there are some cool buildings being constructed. However, Buckhead has developed in a haphazard sort of way, meaning that there really hasn't been any planning. It's a bunch of glitzy highrises and a couple glitzy malls, but you have to drive to get anywhere in Buckhead. It's a maze of highways threading through there, and there really is no pedestrian friendly street presence in Buckhead. So, yes, they have some cool highrises that are cool to look at driving through Buckhead, but it really lacks the urban pedestrian quality that really make a good urban experience.

[SLC Projects]

Originally Posted by wrendog

Wow! I see a few towers there:

3 office towers! (one 300-500k sq ft, one 325k sq ft and one 250k sq ft)
2 Hotels! (one 400-800 room and one 200 room)
3 residential towers! (one 50 units, one 120 units and one 140 units)

That would be awesome! What are the chances of this being reality?

Holy crap! The new projects just keep on rolling in.
Let me see if I can break some of this down.
For what I got looks like there will be three phase with this over all project.
Phase one will be one of those residential towers will be in the old Tribune building on Main. ( Good idea )
2nd Phase will be building the 2,500 seat boardway theater, a new large hotel, 800-1000 underground parking stalls and a new office tower
3rd and final phase will be moving the arts center, another hotel ( smaller ) another residential tower and another office tower with parking.

I can't believe all that is happening right now in SLC. It's like a Urban dream come true.

[MetroFanatic]

How ironic that an article like this would pop up during the conversation on condo pricing.

Downtown rents are headed up
by Laura Hancock

http://deseretnews.com/article/1,5143,695265047,00.html

Residents and businesses will have to pay more for the new digs, as the days of $225,000 condominiums and office space averaging $21.21 per square foot will soon be gone.