Salt Lake:Official development news thread

[SLCforme]

What a joke; what an arrogant ass. I can't even believe this project. First tear down the most eclectic unique block in the state and then let it sit as a big eyesore pile of rubble for months if not years. Way to go Meacham, you twit.

[SLC Rocks]

This is the downside of Salt Lake. In most major cities in this country, projects either stall or go forward even if economic conditions change, I believe it is called speculation, but Salt Lake doesn't require allot of speculation to succeed, especially in Sugarhouse. Salt Lake relies on a small pool of serious players (developers/investors) stand alone developers in this market generally fail with a project of this scope, and because of the love for sprawl type developments, there is not enough critical mass to have a group come in and save the day. What a dumb shit this guy is, my 6 year old has more business acumen. What we will probably see (mark my words) is a sprawled type project, two-maybe three-story, shit design buildings with some insurance agents and small law firms. We will loose any opportunity for a density type project here and lost a nice chunk of SLC culture, even if you disliked that culture. Hopefully I am wrong.

[Future Mayor]

Does anyone know a Billy Martin, he works in the Commercial Real Estate Business? I am looking to find out what firm he works for.

[DENrising]

Originally Posted by Viperlord

Why landmark corner in Sugar House is still a mess

http://www.ksl.com/?nid=148&sid=3298813

Ridiculous. I think Mr. Becker needs to come up with some changes in the process that created this mess, to prevent other disasters. Just another reason why this city can't demolish everything, lets fill in the surface lots first.

[arkhitektor]

I think this may be the beginning of our very own Boise Tower-style debacle.
I agree that there has got to be more going on than a dispute over a shared wall.

[SLC Projects]

I bet that Sugarhouse site will end up being a surface parking lot with our luck.

[NYC Rick]

Originally Posted by SLC Rocks

This is the downside of Salt Lake. In most major cities in this country, projects either stall or go forward even if economic conditions change, I believe it is called speculation, but Salt Lake doesn't require allot of speculation to succeed, especially in Sugarhouse. Salt Lake relies on a small pool of serious players (developers/investors) stand alone developers in this market generally fail with a project of this scope, and because of the love for sprawl type developments, there is not enough critical mass to have a group come in and save the day. What a dumb shit this guy is, my 6 year old has more business acumen. What we will probably see (mark my words) is a sprawled type project, two-maybe three-story, shit design buildings with some insurance agents and small law firms. We will loose any opportunity for a density type project here and lost a nice chunk of SLC culture, even if you disliked that culture. Hopefully I am wrong.

I will have to somewhat disagree with your calling it a Salt Lake downside. New York City will push through with the mega buildings on its agenda but there are plenty of suspended projects also. The builders of these suspended apts and office spaces are not small time. They feel it too.

Additionally if you check out the areas surrounding NYC within a 100 miles then you will see that Hartford, Connecticut, Newark,New Jersey, as well as places like Boston are also feeling the economy.

What SLC is going through is not like the mythical Boise non existent tower. There are parallels but SLC has solid funding. Yes things like Sugarhouse etc will suffer with time based economy problems but the major groundwork and infrastructure is already in place and advancing.

Some structures like the now dead 460 ft Boise Tower do not seem relative to the need of a smallish metro area. Then again, I cannot figure out why Des Moines, Iowa and Omaha Nebraska have their high rise structures that are 600 ft plus. I mean their CSA are basically between a 1/3 and 1/2 the size of Salt lake's CSA.

That is however a whole other issue.

Basically, the economy is effecting every city. SLC fortunately has the finances and what seems to be a very forward looking vision that will be completed.

However, there are always turds (polished or unpolished) like the Sugarhouse developer. A huge loser but one that every city has in abundance.

[WASDEN]

Originally Posted by arkhitektor

I think this may be the beginning of our very own Boise Tower-style debacle.
I agree that there has got to be more going on than a dispute over a shared wall.

Yeah this "shared wall" BS is just the scapegoat for the real reason this project has come to screeching halt- a down turn in the economy especially in housing if you ask me. Problem is "creative financing" is no longer available to create the artificial demand for half million dollar homes/condos. If things stay the way they are, Meacham isn't going to get a fraction of the return on his investment. And when I think of all those condos from City Creek, hitting the market in roughly the same time frame and price range hmm..., I 'd say Sugarhouse parking lot is a HUGE possibility. I still think they should have done these condos in phases, building on all those empty lots behind the Sugarhouse stores. But I guess Meacham's target customers would not have purchased there, seeing as the "wrong crowd" frequented those shops, myself included. I guess its a more welcoming place now that its a barren hole.

[arkhitektor]

I went by the Sugarhouse site on my lunch hour today. It has become a miserable looking corner. I saw a news camera from FOX 13 milling about, so perhaps they are planning on running a story about it.

[JCarp]

Can anyone get some current photos of the place? Being a U of U alumni, I spent quite some time down there and am interested in how it currently looks.

Many thanks from your out of town friends.

[RFPCME]

Wow! Yesterday I asked who this Mecham character was and while no one directly answered my question, yawl ganged up and told me who this character really is. Sounds like "Developer Gone Bad."

A minor point of contention, I don't know who said it, Wasden or someone else, but the forumer raised the question of whether high-end condos in the Sugar House area could complete with condos in CCC. I think that's like comparing apples with iguanas or kangaroos--totally different buyers.

Sugarhouse has evolved into a totally different environment than downtown, sort of a University-area gone south. A bookstore, natural foods, trendy used furniture stores, much more like Princeton NJ, Athens GA, or Oxford MS than downtown SLC. I would expect the primary condo buyers, in or around the CCC, will primarily be wealthy Mormons who would like to have a home, probably a second home, near to the center of their faith. I doubt that development will have many upscale urban professionals. If Sugarhouse is competing against other developments, it will be developments like The Metro (which looks great) and others like it, such as those in and around the Gateway and proposed Arts District. My hunch is that the money behind Mecham figured that out, and there were a lot of developments already aimed at that niche in the market.

Finally, has anyone been in the condos built in the old Redman Moving and Storage building? From the outside, that building looks like the most upscale and inviting condo development ever to hit SLC. I'm guessing the price tag on those units must be at least $750K or higher. Got any data?

[Viperlord]

fairly recent news, but I thought I would post the enterprise's article.

April 14, 2008

$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.

"This is a very dynamic project in a very dynamic Salt Lake City downtown marketplace," said Jeff Stockert, president and CEO of Utah Hospitality LLC and Salt City Plaza LLC. "We've pursued this project for more than two years. Intercontinental Hotels Group, 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. We are in the right place at the right time with what we believe to be the right mix of hotel and office space."

Stockert said Phase One of Salt City Plaza will entail the demolition of a vacant convenience store on the corner of 200 West and 500 South to make way for stand-alone sites for a restaurant and bank. Concurrently, the two northernmost buildings of the existing Royal Garden Inn will be renovated, including a new lobby addition, providing a platform for a new 92-room limited service Best Western hotel. The remainder of the Royal Garden Inn, which presently contains 311 units, will be razed to make way for other development.

Phase Two will consist of the construction of three new branded hotels. The first two will be incorporated into an 11-story structure, the first six floors of which will be home to a 180-unit full-service Holiday Inn Hotel & Suites. Floors seven through 11 will become a 150-unit Hotel Indigo, billed as the industry's first "branded boutique" hotel. A terrace and lounge for Hotel Indigo guests will be located on the rooftop of an adjacent office building planned at the site.

Also in Phase Two, a seven-story, 120-unit extended stay Staybridge Suites hotel will be constructed. All three hotels will be served by a pool, day spa and fitness center facility that will also be an added amenity to the project's office tenants, Stockert said.

Attached and adjacent to the Phase Two hotel will be a six-story retail/office complex with 600 South frontage. The ground floor will include a 4,000 square foot restaurant; the remaining 7,000 square feet will be comprised of smaller retail spaces. Floors two through six will be Class A office space.

The third and final phase of Salt City Plaza will consist of a second retail and office structure, five stories in height with ground-level retail space, 7,000 square feet of meeting space on the second floor and 30,000 square feet of Class A office space above. The building, along with the other Phase Two structures, will be served by a sub-grade parking structure accessed via multiple elevators and stairways.

Salt City Plaza Central Park will be the final component of the project, consisting of articulated, decorative stone pathways, shade trees and benches.

Salt City Plaza LLC acquired the site in February. Utah Hospitality LLC will develop and manage the project for Salt City Plaza LLC. Phase One construction is expected to begin this summer. Phase Two will begin immediately thereafter and is expected to be complete in the third quarter of 2010, Stockert said.

Architect and general contractor agreements are currently being negotiated, he said.

Utah Hospitality 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 and Conference Center in the Salt Lake International Center and a 64-unit Holiday Inn Express Hotel & Suites in Tooele.

[Boiseguy]

Originally Posted by NYC Rick

I will have to somewhat disagree with your calling it a Salt Lake downside. New York City will push through with the mega buildings on its agenda but there are plenty of suspended projects also. The builders of these suspended apts and office spaces are not small time. They feel it too.

Additionally if you check out the areas surrounding NYC within a 100 miles then you will see that Hartford, Connecticut, Newark,New Jersey, as well as places like Boston are also feeling the economy.

What SLC is going through is not like the mythical Boise non existent tower. There are parallels but SLC has solid funding. Yes things like Sugarhouse etc will suffer with time based economy problems but the major groundwork and infrastructure is already in place and advancing.

Some structures like the now dead 460 ft Boise Tower do not seem relative to the need of a smallish metro area. Then again, I cannot figure out why Des Moines, Iowa and Omaha Nebraska have their high rise structures that are 600 ft plus. I mean their CSA are basically between a 1/3 and 1/2 the size of Salt lake's CSA.

That is however a whole other issue.

Basically, the economy is effecting every city. SLC fortunately has the finances and what seems to be a very forward looking vision that will be completed.

However, there are always turds (polished or unpolished) like the Sugarhouse developer. A huge loser but one that every city has in abundance.

The economy is effecting everyone everywhere on some level.. Funding is not a city by city basis in relation to their size.. its about supply and demand, as well as financial options available.. Boise is in the same boat.. we have plenty of projects going on, one actually is 17 stories, its not like the only thing going on in boise is the boise place building...Which the developer is actually stating he has financial backing now.. so its not dead as of yet.. its just in court.... no city is immune to developement woes... like I say.. its more than a city's image, whether its omaha, des moines, boise or salt lake city, its about a private developer that owns private property seeking financial services for a business venture... Boise and Salt lake are similar in the amount of sprawl that has been allowed to happen, thus creating a suburban culture, which is hard to counter, unless gas prices hit 10 dollars per gallon, but it doesn't mean its impossible.. that is why mass transit is key.. and salt lake has done that... which factors into new supply and demand figures...
boise's supply and demand figures are more centered around what a typical neighbourhood would experience.. Downtown boise is very much a neighbourhood, where as salt lake is not.. its more urban with a much more large scale office presence

[SLC Projects]

That's awesome news Viper. Thanks for the update.

[delts145]

Even if the news has already broke Viper, it's great to read about it again. The fact that this major project is being announced and pushed forward in these dicey times, is a very good sign for downtown Salt Lake.

I'm also elated about the location of the project. Redevelopment can't come soon enough, when it comes to that specific area.

more announcements:

Major Film Studios Development moving forward for SLC - Mini Universal Studio coming to Fairpark?

http://www.deseretnews.com/article/1,5143,700225952,00.html

Blackstone Studios and Stone Five Studios are teaming up on a 53-acre development that would include 12 soundstages, as well as retail, office and residential space.
The Fairpark is the preferred site for the development, though other locations also are being explored, said Joe Pia, a longtime entertainment attorney and a partner in Blackstone Studios.

.

[delts145]

Sugar House developer promises site cleanup

The Salt Lake Tribune
Article Last Updated: 05/15/2008 12:15:22 AM MDT


A Sugar House developer has pledged to immediately clean up its debris pile at the Granite Block construction site and replace a stolen fence to secure the area. Mecham Investments, which is redeveloping the corner of 2100 South and Highland Drive, then will submit a timeline for the remainder of the demolition - including how to solve a shared-wall conundrum - as well as a construction plan, according to the Salt Lake City Mayor's Office. A representative from Mecham Investments confirmed the plan, which was brokered Wednesday during a meeting with the city's building director, a planner and an attorney. As a result, the city has agreed not to seize Mecham's $20,000 bond to help pay for landscaping on the property. The city initially reported the bond value at $100,000, but corrected that figure Wednesday. Demolition at the Granite Block halted in February due to a shared wall between Mecham's former Blue Boutique structure and a building at 1074 S. 2100 South. Last week, city officials sent Mecham a letter noting landscaping for the dirt crater was to commence April 30. The letter threatened forfeiture of the bond and potential legal action. Now, it appears, the parties are willing to work out a solution. Mecham's timeline and construction plan are expected by week's end, said the Mayor's Office. - Derek P. Jensen

[utenation]

Originally Posted by NYC Rick

What SLC is going through is not like the mythical Boise non existent tower. There are parallels but SLC has solid funding. Yes things like Sugarhouse etc will suffer with time based economy problems but the major groundwork and infrastructure is already in place and advancing.

Some structures like the now dead 460 ft Boise Tower do not seem relative to the need of a smallish metro area. Then again, I cannot figure out why Des Moines, Iowa and Omaha Nebraska have their high rise structures that are 600 ft plus. I mean their CSA are basically between a 1/3 and 1/2 the size of Salt lake's CSA.

That is however a whole other issue.

I agree Rick.. There is a real difference between solid funding and pipe dreams. I've also wondered why places like Des Moines, Louisville and Omaha have no problem pulling the trigger on large towers, while SLC seems to never come through on anything over 415'-420'.

[Callasphile]

Thanks for that article Viperlord. Did they happen to have any renderings? I am trying to envision what this will look like it sounds nice but the type of hotels makes me think it may end up like the hampton in or something similar with a square stucco building in the middle of a parking lot.

[Utaaah!]

Thanks for posting the Enterprise articles, Viper. I let my subscription expire when I moved to Dallas, so I've missed reading the development stories that often can only be found in SL's business newspaper. I just discovered today, however, that I can see the full text of Enterprise articles by inserting a number to the url like this: http://www.slenterprise.com/specialtopnews3.html

Viola! The full article appears. Change the number to see other articles. Now if they would just consistenly update the webpage each week....

I'm also excited about this project. It isn't tall, and it doesn't meet our need for a convention headquarters hotel, but it replaces a closed convenience store, parking lots, and a rundown motel with a nicer, denser, walkable, multi-use project. I've spent a lot of time in DC, Arlington, VA, and Uptown Dallas recently. These are very happening places, with enviable street activity that is achieved through mid-rise density that engages the street, rather than fortress-like overwhelming highrises. I would prefer to see downtown Salt Lake densify with 5-10 story buildings that absorb existing surface parking lots, than to see a handful of 500-foot towers. This project is a step in the right direction.

[Viperlord]

there about a month behind, but this site is rather helpful too for slenterprise articles...

http://findarticles.com/p/articles/mi_qa5279