Salt Lake:Official development news thread - Part 2 - Page 395

Stenar · #**7881** Posted: **Oct 7, 2011, 7:17 PM**

Quote:

Originally Posted by SLC Projects

Great update guys. As for the Leonardo, I kind of wish they would of done more to the outside of the building other then just hanging up a few banners and painting the words "The Leonardo".
I love how the Providence Place is turning out.

They wanted to do more to the building, but were unable to raise the funds to do so.

arkhitektor · #**7882** Posted: **Oct 7, 2011, 8:03 PM**

Did they come across some money to help them reach the opening date tomorrow? Last I had heard, their financial situation was pretty bleak and the opening of the museum was in question.

delts145 · #**7883** Posted: **Oct 8, 2011, 9:48 AM**

Quote:

Originally Posted by Reachforthesky

Nice! I love the shots!
looks like Gateway Six is really going to add some density to the gateway district!

Very much agree, and as most of us have constantly harped, a needed dose of diversity in finish. I'm keeping my fingers crossed that Gateway Six will be finished as beautifully as the many drawings depict.

gemery · #**7884** Posted: **Oct 9, 2011, 5:27 AM**

I went to the Leonardo today. It was pretty interesting. Even though I spent a couple hours there, I see that there is definite room for more. I don't mean that just that it wasn't enough (though I thought the Civil Rights exhibit was a bit out of place), just that I could see many other rooms that will surely be filled with more exhibits as time goes on. There were exhibits on prosthetic limbs, computer animation, etc. I liked it!

John Martin · #**7885** Posted: **Oct 9, 2011, 5:32 AM**

So, what is it?

gemery · #**7886** Posted: **Oct 9, 2011, 3:17 PM**

Quote:

Originally Posted by John Martin

So, what is it?

Ummm ... just what was announced. It is a museum that features the combination of science, engineering, and art. There were displays on animation (where we could deal with claymation, computer animation, flat animation), electricity (a cool display that represented nerve endings), a place where they were testing people for real research to see if there is a genetic reason behind why some people multitask effectively and others don't, a hanging sculpture that reacted to your presence, etc. The center was announced a long time ago and has been one of the featured projects of DowntownRising.com.

John Martin · #**7887** Posted: **Oct 9, 2011, 4:38 PM**

I think their lack of a unified purpose could really hurt them in the long run. I'd hate to be whoever is in charge of marketing this place.

scottharding · #**7888** Posted: **Oct 9, 2011, 7:01 PM**

I think the Leonardo's purpose is pretty clear as the Arts and Science center for the city. Many major cities have a center like this one. When traveling exhibits like BodyWorks come to Salt Lake, this is where they will be. The center also has studio space for producing video and sound recording. So aside from the exhibits that will appeal to the general population, there are other offerings tailored to certain disciplines of study. I'm glad we have it.

scottharding · #**7889** Posted: **Oct 9, 2011, 7:02 PM**

An article about the budget short-comings for the next few years. It doesn't look good for some of the projects that we're all hoping for.

http://www.sltrib.com/sltrib/home2/5...-lake.html.csp

Old&New · #**7890** Posted: **Oct 9, 2011, 10:04 PM**

Quote:

Originally Posted by scottharding

An article about the budget short-comings for the next few years. It doesn't look good for some of the projects that we're all hoping for.

http://www.sltrib.com/sltrib/home2/5...-lake.html.csp

I liked this response in the comments section by "goodtogreat":

Quote:

The Convention Hotel is the one project that will actually be an economic stimulus and bring an estimated $100 Million of direct annual spending that is currently lost to other cities because Salt Lake Does Not Have a Convention Hotel. Almost every Convention Center in the Country has a Convention Hotel because large conventions do not want to have to stay in numerous hotels and pay for transportation to and from the Convention. It's why we lost the Republican National Convention, a $25 Million economic impact. We will lose other large conventions if we don't do it. It's about staying competitive with other cities. We can either bring people here to help the economy. It's the same reasons communities invest in airports (it brings people here to spend money). If we don't they'll fly somewhere that accommodates their needs and leave there money there. The project doesn't take tax payer dollars, but pays for itself with Revenue bonds--the only project that actually is self sustaining. This has a big impact on Salt Lake. Learn about it for yourself. It is a much needed project and a huge jobs and economic booster.

s.p.hansen · #**7891** Posted: **Oct 9, 2011, 11:30 PM**

Quote:

Originally Posted by scottharding

An article about the budget short-comings for the next few years. It doesn't look good for some of the projects that we're all hoping for.

http://www.sltrib.com/sltrib/home2/5...-lake.html.csp

The article itself said that this may not be as big of a deal because some of these projects are federally backed or were planned from the beginning to be funded by bonds.

The Streetcar is paid for by the feds.

The Convention Center Hotel will be backed mostly by private developers.

The Utah Performing Arts Center will be funded with the Delta Center bond.

s.p.hansen · #**7892** Posted: **Oct 9, 2011, 11:32 PM**

I'm with the mayor, let's keep the Utah Performing Arts Center in Salt Lake City by getting that done first. The Convention Center Hotel can't be stolen by sprawl.

scottharding · #**7893** Posted: **Oct 10, 2011, 1:50 AM**

Is the performing Arts Center completely funded by the Delta bond?
Is the street car completely funded by federal dollars?

I would love to think so, but the fact that they're mentioned in the article implies otherwise. I know there are other sources of funding for some of these projects, but I believe the city and/or county are expected to chip in some percentage. That said, I do believe they'll find the money for the Sugarhouse street car and either the convention center hotel or the performing arts center within the next year or two.
Some of those other projects are likely to be shelved, however.

s.p.hansen · #**7894** Posted: **Oct 10, 2011, 2:16 AM**

Quote:

Originally Posted by scottharding

Is the performing Arts Center completely funded by the Delta bond?
Is the street car completely funded by federal dollars?

Yes and Yes.

Two separate federal grants have paid for the Sugar House streetcar.

For the UPAC they are going to have to vote over the bond extension anyway, however long it's extended over time is adjustable like a belt.

Stenar · #**7895** Posted: **Oct 10, 2011, 3:25 AM**

Quote:

Originally Posted by s.p.hansen

Yes and Yes.

Two separate federal grants have paid for the Sugar House streetcar.

For the UPAC they are going to have to vote over the bond extension anyway, however long it's extended over time is adjustable like a belt.

The feds never pay 100% for transit projects. At most 80%.

Future Mayor · #**7896** Posted: **Oct 10, 2011, 4:15 AM**

Quote:

Originally Posted by Stenar

The feds never pay 100% for transit projects. At most 80%.

That's correct the street car is not 100% funded by the feds. Yes two grants were received from the feds to help with the study and building, but SLC and SSL will be putting money in as well.

John Martin · #**7897** Posted: **Oct 10, 2011, 5:33 AM**

When did they get a second grant? I only recall a grant that would've payed like half the total cost.

s.p.hansen · #**7898** Posted: **Oct 10, 2011, 6:10 AM**

My bad, I went back and did a better job with my homework on this. It looks like half of the funding was already secured by the city and the Tiger II grant simply finished the job (at least almost completely).

The total cost is estimated to be about 55.5 million.

arkhitektor · #**7899** Posted: **Oct 10, 2011, 3:59 PM**

I saw this on a banner ad over the weekend. It can't be good news as far as ever finishing the front half of the building is concerned:

www.slccondoauction.com

livedowntown · #**7900** Posted: **Oct 10, 2011, 4:24 PM**

Quote:

Originally Posted by arkhitektor

I saw this on a banner ad over the weekend. It can't be good news as far as ever finishing the front half of the building is concerned:

www.slccondoauction.com

I actually know that it is potentially good news. The original bank that owned the loan for Broadway Park Lofts reached its lending limit and eventually went under (it took almost two years) and were taken over by the FDIC. The loan was sold to US Bank for pennies on the dollar. The project has been sitting there while US Bank figured out what to do (they were in no hurry.) Now the owner, Ken Millo, is liquidating the units to raise the capital to buy the loan back from US Bank and finish the project.

The truth is this looks like it will be a great deal for anyone who wants to buy downtown in a cool, authentic project. The units will end up selling for much reduced rates from the original asking price.