Salt Lake City: Official Development News Thread - Part 5 - Page 140

bob rulz · #**2781** Posted **Apr 21, 2018, 6:50 AM**

A 500 ft. tower would be great on the Carl's Jr. corner.

There's a lot of locations where a 500+ ft. tower could work imo. Lots of undeveloped land still in the downtown core.

Maybe if Tower 8 is a little taller than expected, it could push close to 500 ft. Not getting my hopes up, but I'm also not too concerned about it. Just having another one in the range of those current top 2 would be huge.

Also I've said it many times before, but height is not a good indicator of the urban feel of a downtown area. The 70s and 80s saw unprecedented skyscraper growth throughout basically every major city in the U.S., but it also tore away the urban fabric and character of a lot of downtown cores.

Makid · #**2782** Posted **Apr 21, 2018, 1:38 PM**

There are also multiple mid-block locations that would work. With a corner lot not maximizing the height, additional height can be applied midblock either via air rights transfer (Hotel Monaco - 222) or via direct conditional use (Regent or the original Cascade at 415').

For prominent corner lots, the last one remaining that had a plan is the NE corner of 4th South and State. Wasatch Partners (Dell Hansen) had talked about 2 residential buildings being noticeably taller than other buildings in SLC on that lot. This was before the market conditions changed.

Orlando · #**2783** Posted **Apr 21, 2018, 4:09 PM**

Quote:

Originally Posted by DCRes

I'm trying to imagine how a new tallest would look in that location from the common downtown picture angle taken around the 600N overpass. I think it would fall right behind the Key Bank Tower, so I assumed this tower wouldn't be very visible, but if it's a new tallest it could poke up over the other buildings. Could look pretty good. I'm not a fan of spires just for the sake of height, but some sort of pitched roof or decorative top could be nice to make it stand out a little more as well.

Orlando · #**2784** Posted **Apr 21, 2018, 10:00 PM**

One more. This angle makes the city seem really relatively dense.

delts145 · #**2785** Posted **Apr 22, 2018, 1:28 AM**

Like you said Orlando, I hope they do something a little creative with the roof on this one.

asies1981 · #**2786** Posted **Apr 22, 2018, 1:46 AM**

Also, we should be getting an announcement on the CCH in the next month or so. Because I'm press, people in the know have verified that much but are tight-lipped for more info. This is my hunch, not me being cryptic, but I think we'll see it announced as part of Block 67. Also, everybody in the development community is sure a recession is on its way so I think that will push an urgency to get projects started now while financing is available. And if you love BSL you guys should become members if you haven't already!

Orlando · #**2787** Posted **Apr 22, 2018, 2:56 AM**

Quote:

Originally Posted by asies1981

Also, we should be getting an announcement on the CCH in the next month or so. Because I'm press, people in the know have verified that much but are tight-lipped for more info. This is my hunch, not me being cryptic, but I think we'll see it announced as part of Block 67. Also, everybody in the development community is sure a recession is on its way so I think that will push an urgency to get projects started now while financing is available. And if you love BSL you guys should become members if you haven't already!

Thanks for all your info.
Is block 67 the Arrow Press Square block like where I show it in my Google Earth model? Why do they suspect that a recession is coming? Is the economy softening in Utah? Why would PRI/CCRI announce a large spec office building at this time? Or do they have some major tenants lined up for it already?

Always Sunny in SLC · #**2788** Posted **Apr 22, 2018, 3:27 AM**

Quote:

Originally Posted by asies1981

Also, we should be getting an announcement on the CCH in the next month or so. Because I'm press, people in the know have verified that much but are tight-lipped for more info. This is my hunch, not me being cryptic, but I think we'll see it announced as part of Block 67. Also, everybody in the development community is sure a recession is on its way so I think that will push an urgency to get projects started now while financing is available. And if you love BSL you guys should become members if you haven't already!

This is great news! If this is true then the structures on 2nd South and West Temple will be preserved! I was really sad that we were going to lose those buildings. This is will be awesome if it is true. We get a CCH and keep historic architecture! Assuming of course Isaac’s guess is accurate.

airhero · #**2789** Posted **Apr 22, 2018, 5:49 AM**

Quote:

Originally Posted by Orlando

Thanks for all your info.
Is block 67 the Arrow Press Square block like where I show it in my Google Earth model? Why do they suspect that a recession is coming? Is the economy softening in Utah? Why would PRI/CCRI announce a large spec office building at this time? Or do they have some major tenants lined up for it already?

Block 67 is the one bordered by 200 and 300 West and 100 and 200 South (Royal Wood Plaza).

Orlando · #**2790** Posted **Apr 22, 2018, 6:20 AM**

"Once mediocre Regent Street now a downtown destination"

www.deseretnews.com/article/900016509/once-mediocre-regent-street-now-a-downtown-destination.html

Quote:

"The commission of a public art installation for Regent Street is the final element of the reconstruction, and is already underway,” he said. The city is currently in the final stages of its artist selection process for the public art piece.

More information will be released upon the final execution of the agreement, which should be within the next couple of weeks, according to Amanda Holty, the Redevelopment Agency's communications and outreach manager. The agency and the Salt Lake City Arts Council are projecting a completion date of mid-2019 for the installation, she said.

Stenar · #**2791** Posted **Apr 22, 2018, 7:52 AM**

Quote:

Originally Posted by Orlando

Thanks for all your info.
Is block 67 the Arrow Press Square block like where I show it in my Google Earth model? Why do they suspect that a recession is coming? Is the economy softening in Utah? Why would PRI/CCRI announce a large spec office building at this time? Or do they have some major tenants lined up for it already?

Pretty much every economist in the country says a recession is coming.

Stenar · #**2792** Posted **Apr 22, 2018, 7:55 AM**

Quote:

Originally Posted by asies1981

...This is my hunch, not me being cryptic, but I think we'll see it announced as part of Block 67....

I’ve always thought Block 67 was the best location for it. I’d rather have it directly connected than across the street.

delts145 · #**2793** Posted **Apr 22, 2018, 10:46 AM**

Same here Stenar. I would be much happier to see the CCH go to Block 67. Regarding the recession, if it happens I just hope it isn't even worse than the 08 one, as some have predicted.

Good to see this in the papers this morning.

Salt Lake's Eccles Theater shows 'incredible' revenue returns in debut year

https://farm3.static.flickr.com/2086...d24137d4_b.jpg

Once-controversial theater's 2017 returns exceeded projections by more than double

Katie McKellar, Deseret News https://www.deseretnews.com/article/...ebut-year.html

SALT LAKE CITY — Years ago, when downtown Salt Lake City's future 2,500-seat theater was coming down to a vote, critics feared it would end in disaster: an unprofitable and underused stage that would dilute business for other theaters while still relying on a subsidy.

Fast forward seven years: Salt Lake City and Salt Lake County officials are thrilled — some even shocked — to see the George S. and Dolores Doré Eccles Theater's first-year revenues are booming, more than doubling budget projections.

In 2017, the first full year of operations, the theater was projected to return about $1.3 million in revenue after expenses. But it produced more than $2.6 million...

...Broadway revenue was projected at about $630,000 for 2017, but it actually produced 180 percent of that: $1.1 million, according to the budget.

"The theater has certainly outperformed any budgets we set," said Lia Summers, senior arts and culture adviser in the Salt Lake City Mayor's Office. "We're glad it's being well-visited."...

...Darrin Casper, Salt Lake County's deputy mayor of finance and chief financial officer, attributed the extra revenue to not only high box office sales, but also huge savings in utilities because the building was even more energy-efficient than expected...

...Utilities were projected to cost more than $700,000 for the year, but actual expenses turned out to be much lower: about $233,000. Both building operation and theater operation costs also came in under budget.

Casper, who helped draft the theater's financial projections when county and city leaders were debating whether to approve it, said "any fears I have had as a financial manager" for the theater's performance have disappeared.

"I am absolutely thrilled," he said. "It's exceeded our expectations. It's been remarkable and just a jewel for the community."

In fact, there was so much extra revenue in the first year, there was enough to fill the theater's $1 million operating reserves (in case the theater ever has a bad year) and the $850,000 reserve for long-term maintenance projects, Casper said...

.

bob rulz · #**2794** Posted **Apr 22, 2018, 7:49 PM**

That is awesome news!

Always Sunny in SLC · #**2795** Posted **Apr 22, 2018, 8:16 PM**

Maybe the best evidence for a recession coming soon is how long it has been since we had one. 10 years since the last, which is on the high end of years between recessions. Other than that the evidence is certainly not clear. I find that it has become very political in that those who are not supportive of the current party in power see a recession coming while the others see a new wave of expansion and prosperity. My guess is we will not see it coming just like every other contraction. On the good side I don’t think we are anywhere near being in the position of ‘08. The demand is real for real estate this time and not being driven by lowered lending standards. Builders still can’t keep up with demand at least in Utah.

Hatman · #**2796** Posted **Apr 23, 2018, 4:29 AM**

Great news about the theater. Does this mean there is a real demand for more theater-space? For example, the long-forgotten Pantages Theater across the street? It would be beyond awesome to see that old theater restored to its original condition.

Orlando · #**2797** Posted **Apr 23, 2018, 5:21 AM**

Quote:

Originally Posted by Hatman

Great news about the theater. Does this mean there is a real demand for more theater-space? For example, the long-forgotten Pantages Theater across the street? It would be beyond awesome to see that old theater restored to its original condition.

I'd like to hear how the Capitol Theater has been doing now that it is no longer THE theater in town.

delts145 · #**2798** Posted **Apr 23, 2018, 12:30 PM**

I would be interested in an update on the Capitol's recent season also, but especially this upcoming 2018 season once its finished. This particularly since it's recent major upgrades and additions. While there might be a dip here and there in scheduling demand throughout certain times of the year, I don't imagine the Capitol is operating anywhere close to the red.
For a long list of reasons, from scheduling conflicts to staging needs, the Capitol Theater really never served the demands of major traveling Broadway Productions ideally. The Capitol's first priority has always been Ballet West. This has become even more pronounced since it's major renovation and new additions. The Capitol's primary purpose as a stellar venue for one of No. America's premier ballet companies, along with a major regional opera presence, is now as firmly set in stone as is possible. The construction of the Eccle's has now given the Capitol the room it needed to expand its scheduling and productions around the needs of its primary tenants.

DCRes · #**2799** Posted **Apr 23, 2018, 3:03 PM**

I've been a season ticket holder at Pioneer Theater Company for about 10 years, and it seems to me like the theater has been a little more empty the last few years. I don't have any data on this other than my own observations. Particularly when they do lesser known plays, the crowd seems more sparse.

Makid · #**2800** Posted **Apr 23, 2018, 3:54 PM**

The Capitol Theater has been extending shows for Ballet West as well as Utah Opera.

Additionally, Ballet West has provided additional services to schools in the form or free mid-day performances that were more limited previously. This has increase in the last year.

I know they have also had some additional shows from external companies (comedians, magicians, etc.) that have come through. The additional availability has provided more freedom in scheduling.

Lastly, the new theater has allowed Abravanel Hall to expand the musical offerings (Orchestra at the Movies) where before it was an overflow of sorts for comedic performances when Capitol was booked.

I am not sure how Kingsbury Hall has been doing. This is the 1 theater that most were worried about due to it being at the University rather than downtown.