Quote:
Originally Posted by Liberty Wellsian
In the case of the Air Center/Millenium it went from the hands of a tech dreamer to a deep pocketed LA developer that specializes in office space. Nothing against dreamers but the project seems way more likely to get done now.
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Sure. But it's still probably unlikely to get done.
For every major project that actually gets built, there's three-plus projects that never get beyond the planning stage or are drastically downsized upon completion.
So, as much as we want these projects developed, history tells us there's a better chance nothing is built than built. In fact, when you take away LDS Church developed high-rises (like 111 South Main, which switched from Hamilton Partners to the LDS Church's City Creek Reserve), the last project fully developed was 222 South Main in 2009, nearly ten years ago. And that project's journey was long and drawn out, too, as it was initially proposed back before the Winter Olympics, the site demolished, which then had those temporary business fronts added (initially just for the Olympics...but then it went longer due to the tower taking forever to develop) and sat dormant for years until a downsized version of the tower was built (initially it was going to have residential at the top and was planned at 28 stories, I believe). Before that, it was the Grand American in 2001. So, in the last 17 years, Salt Lake City has had two high-rises built that weren't developed by the LDS Church.
In that span, we've had many proposals, some still technically in the proposal state and some (like Zion Social Hall Center or whatever it was called) completely abandoned.
The LDS Church properties count, of course, but their track record of developing actual proposals dwarfs any potential developer looking to build in Salt Lake City.
And that's why I'm skeptical of any major project. Still waiting on the 151 Tower on State Street - or at least news on it. But alas...