some density to the 500 and 600 south corridor
75 million mixed-use project planned in downtown Salt Lake
By Barbara Rattle
The Enterprise
A South Dakota hotel developer plans to break ground this summer on an approximately $75 million mixed-use project on roughly five acres between 500 and 600 South immediately east of 200 West in Salt Lake City.
Dubbed Salt City Plaza, the project will be anchored by four branded hotel properties totaling 542 rooms and suites in addition to spa facilities, restaurants, approximately 30,000 square feet of rentable commercial space and 90,000 square feet of Class A office space.
The developer of Salt City Plaza, which still requires entitlements from the city, is Salt City Plaza LLC, based in Aberdeen, S.D. Salt City Plaza is a sister company to Utah Hospitality LLC, which has constructed several hotels in the state and recently broke ground for a 94-unit Holiday Inn Express Hotel & Suites and a 97-unit Staybridge Suites complex immediately north of the E Center in West Valley City that should open in the first quarter of 2009 and include an 8,000 square foot family-style indoor water park and extensive meeting space.
Salt City Plaza is a new upscale, mixed-use development located in the heart of downtown Salt Lake City, UT, situated between 500 South and 600 South and immediately east of 200 West. The development will be anchored by four (4) branded hotel properties totaling 542 rooms and suites, incorporating Limited Service, Full Service, Extended Stay, and Boutique styles into the diversified mix. Other uses will include spa facilities, restaurants, retail, and Class A office space totaling approximately 120,000 square feet of rentable, commercial space of which 90,000 square feet is Class A office space. In addition to several ground level store-front spaces; parking for the Salt City Plaza, will be accommodated by a multi-story sub-grade, parking structure. A centrally located, pool, spa and fitness facility will accommodate guests from each of the four hotels as well as office tenants. Salt City Plaza will encompass approximately 5 acres of prime commercial property that will be developed in three phases.
Phase One, of Salt City Plaza will entail the demolition of a vacant convenience store located at the corner of 200 West and 500 South. This demolition project will provide space for a stand alone restaurant and bank. At the same time, the two northern most buildings of the existing Royal Garden Inn will be completely renovated including a new lobby addition. The new lobby will provide a platform for continued hotel operation of a 92-room Limited Service Best Western hotel. Subsequent to the completion of the new lobby facility demolition will continue to make way for Phase Two of Salt City Plaza.
Phase Two will begin the construction of three new, branded hotels. The first two hotels will be uniquely incorporated into an eleven story high-rise component. The first six floors will be home to a 180-unit Full Service Holiday Inn Hotel & Suites. Floors seven through eleven will be home to a 150-unit Hotel Indigo, the industry’s first ‘branded boutique’ hotel. These two distinctly different hotel components will incorporate a blend of design and finishing characteristics to create a one of a kind experience which will include a terrace and lounge for the Hotel Indigo located on the adjacent office building roof top. Concurrently, a seven story, 120-unit Extended Stay Staybridge Suites hotel will be constructed to complete this well-diversified, elegantly styled, up-scale mixed-use development. All three hotel properties will be serviced by a pool, day spa and fitness center facility which will also be an added amenity available to the office tenants.
Attached and adjacent to the Phase Two hotel will stand a six-story retail/office complex. Located on the 600 South frontage of the site; this elegantly styled commercial structure will provide premium exposure for a diverse range of tenants; from up-scale restaurateurs to mountain sports outfitters and everything in between. The first floor will include a 4,000 square foot restaurant adjoining the high-rise hotel building. The remaining 7,000 square feet will be comprised of smaller retail spaces. Floors two through six will feature Class A office space.
Phase Three, leads construction north away from 600 South where a second retail and office structure will be constructed. This retail and office building will be comprised of five floors. The first floor will feature retail space. The second floor will feature 7,000 square feet of conference space. Floors three through five will provide approximately 30,000 square feet of Class A commercial office space. This building, as well as all of the Phase Two structures, will include access to the sub-grade parking structure via multiple elevators and stairways. Salt City Plaza Central Park; will be the final component of Salt City Plaza. With highly articulated, decorative stone pathways, shady trees and well positioned park benches; the park will provide an urban buffer zone from the fast-paced, downtown atmosphere, for the weary traveler, and a relaxing lunch retreat for Salt City Plaza’s commercial workforce.
“This is a very dynamic project in a very dynamic Salt Lake City downtown marketplace. We’ve pursued this project for more than two years so it is thrilling to finally have it come together” said Jeff Stockert, President and CEO of Utah Hospitality, LLC and Salt City Plaza, LLC. “Intercontinental Hotels Group (IHG), better known perhaps as the parent company of the Holiday Inn family of brands, has worked closely with us to help bring this deal together. In the course of approximately 48 months we will have worked together to introduce over 900 new IHG rooms into the Salt Lake City market culminating with this tremendously exciting project. We are in the right place at the right time with what we believe to be the right mix of hotel and office space.”
The site was acquired by Salt City Plaza, LLC in February 2008 by Aberdeen, South Dakota based hotel and real estate development company, Utah Hospitality, LLC. Phase one is scheduled to commence summer of 2008, with the construction of the new Limited Service lobby and renovation of the Royal Garden Inn. Phase Two construction will commence immediately thereafter and is expected to be completed Q3 2010.
The Salt City Plaza developers recently completed construction of a 92-unit Holiday Inn Express Hotel & Suites just east of the Salt Lake City International Airport, a 111-unit Holiday Inn Hotel & Suites & Conference Center located west of the airport in the Salt Lake International Center and a 64-unit Holiday Inn Express Hotel & Suites in Tooele. This same group recently broke ground on construction of a 94-unit Holiday Inn Express Hotel & Suites and a 97-unit Staybridge Suites complex located immediately north of the E Center in West Valley City. That project, which includes an 8,000 square foot family-style indoor water park featuring a 165-foot water slide and extensive meeting space, is slated for completion in Q1 2009.
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