Holladay » The 57-acre swath of dirt in the heart of Holladay once was a beacon of prosperity: Cottonwood Mall, one of the West's first shopping malls, debuted in 1962.
Today, it sports only a Macy's department store, a shipless anchor to a vanished fleet of stores, and a shuttered T.G.I. Friday's.
But the barren property is not alone. The recession has deferred many development dreams, carving a crater into east Salt Lake City's Sugar House neighborhood, stalling hopes for a bigger-than-Broadway-style theater along with three high-rises in Sandy, and delaying, indefinitely, The Boyer' Co.'s Southgate Center in Provo.
Still, other mall makeovers aren't waiting on an economic rebound.
Renovations are under way at Salt Lake City's Trolley Square, West Valley City's Valley Fair Mall and Murray's Fashion Place Mall. And City Creek Center, the massive overhaul of downtown Salt Lake City's former Crossroads and ZCMI Center malls, is on schedule. The $1.5 billion-plus housing, shopping and office project is set to open in early 2012.
Despite filing for Chapter 11 bankruptcy protection last week, Chicago-based General Growth Properties still plans to transform the old Cottonwood Mall site into the $550 million "Cottonwood," a European-inspired blend of homes, offices and shops.
But the project has been pushed back from a fall 2011 opening to, perhaps, 2012 or 2013, General Growth Vice President of Development Kris Longson said Wednesday.
"National tenants are not signing leases right now on new projects," Longson told a committee that oversees a $96 million property-tax subsidy promised to the Cottonwood project when it is built. "When things do change, we're going to be ready to go."
Another gaping hole in Holladay could be filled next year. Plans for the long-awaited Village Center -- delayed a few years by property and road disputes -- are starting to take shape.
Crews are realigning a troublesome intersection between Holladay Boulevard, 2300 East and Murray-Holladay Road. Cowboy Partners President Dan Lofgren plans to start building the "quaint," three-story Village Center in late August with an opening set for fall 2010.
The project's smallish scale -- 20,000 square feet of retail, or about four stores -- and emphasis on Utah merchants have allowed the center to move forward, unconstrained by the health of national retailers.
"The local tenant base we're looking to is viable and anxious to move in," Lofgren said at Wednesday's meeting. "It's not as if we were relying on growth in the economy to stimulate new stores. For the most part, [a potential tenant] is someone who's relocating."
The Village Center, which includes a grassy plaza leading to Holladay City Hall, also is set to get a property-tax subsidy to offset infrastructure costs.
On Wednesday, Longson acknowledged he doesn't know whether General Growth's bankruptcy proceedings could precipitate a sale of the 57-acre Cottonwood Mall property.
He said such a move would be "very unfortunate." The company already has invested $75 million in the site, including work to demolish the mall, realign Big Cottonwood Creek and lift the property out of the flood plain.
Someday, Cottonwood -- the development -- could rise as well, but years later than previously envisioned.
Tribune reporters Lesley Mitchell, Michael Limon, María Villaseñor and Donald W. Meyers contributed to this report.
City Creek Center
The LDS Church's $1.5 billion-plus live, work and recreate makeover of the former Crossroads and ZCMI mall blocks is proceeding as planned with completion scheduled for early 2012. The 20-acre downtown Salt Lake City project will be anchored by Nordstrom and Macy's, while blueprints still call for more than 100 additional stores comprising 500,000 square feet. City Creek also will include a Harmons grocery store and 750 living units between four, and perhaps five, residential towers.
Cottonwood Mall
Plans to transform the now-demolished 1960s mall in Holladay into a European-inspired housing and shopping village have hit a snag with the Chapter 11 bankruptcy of mall owner General Growth Properties. But Vice President of Development Kris Longson said the company is "ready to go" once the economy recovers and national retailers resume expansion plans. A fall 2011 opening has been bumped to 2012 or 2013.
Fashion Place Mall
The Murray property, also owned by General Growth, long has been one of Utah's most successful malls, which is one reason why Nordstrom recently invested in a new 138,000-square-foot store to replace a smaller one on the site. The new Nordstrom is part of an overhaul of the shopping center that began last year.
Holladay Village Center
Holladay has launched an $11.5 million makeover, largely funded by federal grants, of the intersection at Holladay Boulevard, 2300 East and Murray-Holladay Road. Once the road and utility work is done this fall, Cowboy Partners plans to start construction on the Village Center, a string of storefronts topped by housing and offices that will blanket the former Video Verns site. The firm expects to wrap work in fall 2010.
Layton Hills Mall
The Layton mall, which is anchored by J.C. Penney, Macy's and Sports Authority, lost a Mervyn's last year when the retail chain liquidated and closed all its stores. The mall, however, is holding its own despite the bad economy and loss of one of its anchors.
The Proscenium
Plans to place a 2,700-seat Broadway-style theater and three 30- to 40-story high-rises in Sandy have stalled. Scott McQuarrie, developer of The Proscenium, said the 2.3 million-square-foot office, housing, hotel and entertainment project is on hold while his firm waits for the credit markets to loosen up. A fall 2011 scheduled debut for the first phase has been pushed back indefinitely.
Provo Towne Center
The mall off I-15 Exit 263 (University Avenue) is one of the valley's newer centers and was not part of bankruptcy filing by parent General Growth Properties. It has a low vacancy rate and is drawing interest from smaller retailers for the spaces it does have. Within the next few years, transit stops for the FrontRunner commuter rail and rapid-bus lines will open nearby.
Southgate Center
The Boyer Co.'s Southgate Center is on "market hold" for the time being, said Leland Gamette, Provo's economic-development director. The retail and office project in the city's East Bay section had been expected to open this July.
Station Park
The $250 million project, slated for 100 acres near the FrontRunner station in Farmington, has been pushed back a year. Featuring offices, movie theaters, restaurants and shops, Station Park is now expected to open in 2011.
Sugar House Granite Block
The most prominent portion of east Salt Lake City's so-called Granite Block development cratered along with the economy and is indefinitely suspended until owner Craig Mecham can secure financing. But beyond the hub of 2100 South and Highland Drive, California-based Red Mountain Retail Group is on schedule, beginning this summer, to revive the old furniture buildings into a six-story hotel and health club, along with 320 condominiums above national chain stores, restaurants and boutiques.
Trolley Square
The Salt Lake City mall is undergoing a major renovation, which includes the addition of a 53,000-square-foot Whole Foods store, set to open summer 2010. Portland, Ore.-based ScanlanKemperBard Cos., which bought Trolley Square more than two years ago, has completed interior renovation work on the main mall building and replaced its aging parking structure.
University Mall
The Orem mall is focusing on its open-air Village, just east of the center, which is the new home to Five Guys Burgers and Iggy's restaurants. A Cinemark theater opened last November. The mall also is looking to fill the space previously occupied by Mervyn's, which might involve renovation or an expansion.
Valley Fair Mall
The West Valley City shopping center is undergoing a makeover, which included the opening of a Costco warehouse store about a year and a half ago. A new line of storefronts in front of the mall will feature Olive Garden, Wingers Grill & Bar, T.G. I. Fridays, In-N-Out Burger and Smashburger restaurants.
