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Aug. 16, 2011

Downsized Office-Over-Retail Concept Gains Popularity; SLC Plans State-of-the-Art Theater

By Gabriel Circiog, Associate Editor

The latest city council meeting in Holladay saw the local residents supporting a new proposal in the Village Center development, The Salt Lake Tribune reports. Although six years have passed since the council chose Cowboy Partners as developer of a picturesque village center, the alternate plan of Holladay Village Center 1 L.L.C. is gaining in popularity.

The initial plan for the site, approved by the city, included retail space on the first level and residential space on the second and third floors. The new plan proposes to keep the 21,000 square feet of retail on the ground floor but to reduce the height of the project to two stories, with the upper area changed to commercial office space. The downsized office-over-retail concept was popular with the citizens that previously appealed the approval of the Cowboy Partners plan, due to its density.

Over in Salt Lake City, officials are counting on the expiring bond on its NBA arena to be the key element in funding a $100 million theater. The Utah Performance Center on Main Street will be a 2,500-seat, state-of-the-art theater. The premier venue is aimed to attract first-run Broadway-touring shows and nationally prominent music and comedy acts. Mayor Ralph Becker promises the project will generate $2.4 million after five years and create 283 permanent jobs, as well as inject almost $15 million a year into the local economy.

In tandem, a developer wants to build a 25-story modern high-rise in place of the former Salt Lake Tribune building. The proposal is to connect the tower with the theater through a glass galleria featuring shops and a winter garden.

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