But those dreams, like sticker prices on a post-holiday clearance table, have been drastically reduced - to the dismay of city leaders.
Sandy-based Satterfield Helm Management Inc., which owns the 1970s-era mall, has abandoned plans to build four-story condos above one level of retail stores in the mall's current parking lot. The condos would have given 2700 West an urban, high-rise look and provided an influx of people into the planned city center.
Co-owner Scott Satterfield told the West Valley City Council this week that completing the housing component - with an underground parking lot - would have put the entire mall renovation two years behind schedule.
The $55 million to $65 million project already is at least two to four months behind in securing the lease agreements needed to move forward with design and construction phases in time for a Christmas 2008 opening.
"We continue to be a little frustrated [with] how long of a process it is," Satterfield told the council. "We're trying to make this timing. It's just almost impossible."
Satterfield still hopes to begin construction in March 2008 so that at least 80 percent of retailers could open in November that year. The firm, which bought the mall in 2005, had more success with the expansion's first phase: landing a Costco at the south end. The store plans to open Aug. 4.
But City Council members expressed dismay with how the mall renovation is proceeding.
"The amenities are gone," said Councilwoman Carolynn Burt. Cutting out the condos also means the loss of an amphitheater that would have hosted small concerts and other events.
Longtime Councilwoman Margaret Peterson questioned why the mall's "town center" - a promenade and community gathering spot planned in front - was lined with parking stalls instead of blanketed with an open pedestrian plaza.
"We would like to have a walkable community, and this [design] is saying, 'Bring your car, run into the shops and drive away,' " Peterson told Satterfield. "I'm personally disappointed in how this is turning out."
Satterfield countered that without adjacent parking, retailers are slow to sign leases.
Joe's Sporting Goods, a small, Minnesota-based chain, Best Buy, Ross Dress for Less, Old Navy, Famous Footwear, Petco, Olive Garden and T.G.I. Fridays have expressed "strong" interest in opening at a newly renovated Valley Fair Mall, Satterfield said in an interview.
Valley Fair owners plan to flip the aging mall inside out and turn it into an outdoor shopping center akin to The Gateway in Salt Lake City. They also plan a water feature, similar to The Gateway's fountain, where kids can play on hot summer days.
Satterfield told the City Council that mall anchors Mervyns and Macy's are reluctant to invest in revamping their exteriors, but J.C. Penney is cooperating with his plans to transform the "plain-Jane" mall.
The new mall, he said, will have a "cohesive" look, but "it may not be as dramatic" as he had hoped.
Satterfield Helm, and other developers, can receive tax incentives for rebuilding the blocks surrounding West Valley City Hall, 3600 S. Constitution Blvd. (2700 West). The city hopes to turn the area into a vibrant downtown. In 2011, the Utah Transit Authority plans to open a transportation hub, including a TRAX station, within the project area.
Satterfield said his firm eventually may look into developing condos on the west side of 2700 West. He might also try building a "Texas doughnut" in Valley Fair's parking lot three to five years after the mall renovation is done. The structure would wrap condos around an above-ground parking terrace.
rwinters@sltrib.com
