Change is coming to Cottonwood Mall - New mixed-use development breaks ground
An artist's rendering shows how the ground level of the Cottonwood Mall will look after renovation has been completed.(Duany-Plater-Zyberk & Co.)
http://www.sltrib.com/news/ci_9355864?source=rv
Change is coming to Cottonwood Mall
New mixed-use development breaks ground
By Rosemary Winters
The Salt Lake Tribune
Article Last Updated: 05/23/2008 06:48:49 AM MDT
Utah's first indoor shopping mall sprouted here almost 50 years ago. Now, Cottonwood Mall owner General Growth Properties hopes to replace the aging icon with a new retail model and a revived community hangout.
On Thursday, the company - with the help of Holladay Mayor Dennis Webb steering a bulldozer - broke ground on its 57-acre, $550 million project.
In place of the long, rectangular, peach-brick mall, General Growth envisions: a mixed-use village with 500 homes, 195,000 square feet of offices and 575,000 square feet of shops - about 150,000 square feet less retail space than the old mall.
Plans call for the new commercial core, including some condos, to debut in late 2010. Macy's, which is the anchor store, is remaining open throughout construction. More housing units, including some single-family homes, are expected to follow as the market demands.
Holladay, with the support of other taxing entities, is chipping in $96 million of the new property taxes expected to be hatched by the development over a 20-year period. The funds will subsidize public improvements, such as utility lines, storm drains and a realignment of Big Cottonwood Creek.
Webb waxed nostalgic about the creek and the old mall, recalling an inner-tube ride down the waterway at age 14 that ended with a last-minute exit in the Cottonwood Mall parking lot.
"The citizens will always be mindful of what was here, but their hearts are so excited about what will be here," he said, noting that the city is "deeply grateful" for the project.
Already, the creek has been pushed closer to Highland Drive. General Growth plans to line the creek with a walkway and bike trail. Designs also call for 11 acres of open space, a public plaza, a multi-screen movie theater, a grocery store and restaurants.
John Bucksbaum, chairman and chief executive officer of General Growth, said the project will help "make the planet healthier" because residents of the Cottonwood project and surrounding Holladay will have opportunities to drive less for work and shopping.
Plus, the project is aiming for LEED (Leadership in Energy and Environmental Design) certification from the U.S. Green Building Council. About 75 percent of the construction waste, asphalt and concrete are being reused on site or recycled, said Kris Longson, a General Growth vice president.
"We've been in the shopping mall business for 50 years," Bucksbaum said, "but today we start a new era."
rwinters@sltrib.com
The Former Cottonwood Mall
Cottonwood timeline
* The mall, one of the first in the West, opens in August 1962.
* General Growth Properties purchases the mall's owner JP Realty Inc. in March 2002.
* Plans for a major overhaul are announced in July 2007.
* In February, Holladay creates an Urban Renewal Area surrounding the mall site to provide $96 million in property-tax subsidies for the $550 million renovation.
* Realignment of Big Cottonwood Creek takes place this past winter.
* The site has to be raised from a flood plain, with work starting in June and wrapping up in March 2009.
* Buildings could start to rise in March 2009.
* Shopping at the new Cottonwood is expected to open in late 2010.
Source: General Growth Properties
Features of new Cottonwood
* 57 acres, of which 11 will be for open space and a public plaza.
* 500 residences, including town houses, condos and single-family homes.
* 195,000 square feet of office space.
* 575,000 square feet of shopping.
* Tree-lined streets with views of Mount Olympus.
.
Prev
.
Linear Mode
