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Trolley Square will welcome a major new tenant to the Salt Lake City mall next week, one that reveals a lot about the historic retail center's evolving business strategy.

The Falls Event Center plans a daylong celebration and a ribbon cutting Tuesday for the launch of its 14,000-square-foot facility at Trolley for hosting weddings, corporate retreats and other events.

The spaces — spread over two buildings in the red-bricked former trolley yard at 600 South and 700 East — will feature two main halls, courtyards, bridal suites, kitchens, all available for venues for public and private gatherings, a company spokeswoman said.

"We like to call it both elegant and affordable," said Madison McFarland, networking manager for Falls Event Centers, headquartered in West Jordan. "We offer great value for what you're getting."

Founded in 2011, the firm operates four similar centers, in St. George; Elk Grove and Fresno, Calif.; and Gilbert, Ariz. It plans to open three more soon, in Austin, Texas, Littleton, Colo., and Peoria, Ill.

"We are growing very quickly," said McFarland, adding that company officials are delighted to open in Trolley, with its iconic architecture and east-central location in Utah's capital.

Trolley Square managers, meanwhile, say the event center is also a great match for the rest of the mall, which is marketing itself as a community hub but has struggled in recent years with flagging retail occupancy rates.

Trolley has been under new management since 2013, when it was purchased by Utah industrialist Khosrow Semnani and his private investment firm, S.K. Hart Management. Anchored by Whole Foods Market, the 315,000-square-foot shopping center has seen interior and exterior improvements, including new electronic lighting for the site's water tower.

Mandy McKenna, property manager for Trolley Square, predicts the event center will bring new foot traffic to the indoor mall's venerable hallways, benefiting other retailers. Events are also expected to bring visitors who may not have seen Trolley for years, McKenna said, giving the mall a chance to reintroduce itself to shoppers.

In contrast to some competitors, Falls Event Center gives customers full flexibility on how their events are organized, including the ability to choose their own vendors for things like catering and event support. That, said McKenna, will also present retail opportunities for Trolley stores.

Places such as home-goods vendors Williams-Sonoma and Pottery Barn, or fine stationery outlet Tabula Rasa, or the mall's many jewelers and restaurants will be positioned to cater to weddings and other events held at the new center.

"We have a great mix of vendors for all their needs," McKenna said. "It fits very naturally."

Tony Semerad