ScanlanKemperBard Cos. replaced an existing loan with a $74 million package that will allow it to build a previously announced Whole Foods Market grocery store, rebuild a parking garage and add 33,000 square feet of retail space, Tom Bard, a principal of the Portland, Ore.-based firm, said Monday.

"We needed a larger loan to accomplish the increased scale of the project. The best way of accomplishing this was to refinance the loan," Bard said.

The decision to borrow more money came after ScanlanKemperBard signed a lease with Whole Foods. Bard said the 53,260-square-foot store, scheduled to open in 2010, is expected to boost shopper numbers at Trolley Square. The promise of more customers made it possible to expand the "lifestyle" center further, Bard said.

"The feeling was attracting a business such as Whole Foods was well worth the investment because of the additional traffic it would draw, and their customer is the same customer who is attracted to Trolley Square. So it's mutually reinforcing," he said.

The 200-stall parking garage on the west side is expected to be finished this fall. Construction of Whole Foods may start at the same time. Bard said the building will be turned over to Whole Foods in the summer of 2009. The store will open early the following year.

No tenants have been announced for the 33,000-square-foot retail addition. It should be finished in the spring of 2009.

ScanlanKemperBard Cos. bought Trolley Square from Simon Property Group in 2006. The four-building complex was originally built in 1908 as a trolley car barn. It currently houses 32 tenants and is 61 percent full.

In a related matter, Wells Fargo bank will move to a new location inside the main Trolley Square building this summer. Work on the 3,600-square-foot space began in March.

Wells Fargo is currently housed in the Sand Building on the east side of the shopping center.

pbeebe@sltrib.com