Over 5 years, City Creek has helped Salt Lake thrive, experts say

[gUrthBrooks]

Today, the $1.5 billion commercial and residential project known as City Creek Center has turned out to be one of the best investments ever made in Utah’s capital city.

 

City Creek has been a catalyst for rapid urban redevelopment that has helped revive the downtown area, Salt Lake economic development director Lara Fritts said Tuesday during a roundtable discussion with community leaders to exchange ideas on the impact the center has had since opening on March 22, 2012.

“The central business district of any city should be its heartbeat, and our heart is strong in Salt Lake City,” Fritts said. “Vacancy rates continue to go down while we added (new elements) to the market.”

She said rental rates for office and commercial property in downtown are rising along with supply and demand. She also noted that more people are choosing to live in the downtown area, which is creating a more vibrant urban community. Much of that growth can be attributed to City Creek’s development, she added.

http://www.deseretnews.com/article/865675622/Over-5-years-City-Creek-has-helped-Salt-Lake-thrive-experts-say.html

 

 

[PorterRockwell]

Well we know that a lot less people will be coming there now thanks to Mike Noel pushing the Bears ears issue.

Never been to city creek. Don’t ever plan to step foot in it I’ve looked at the website and there’s nothing there I NEED or want that I can’t get elsewhere

[gUrthBrooks]

In summary, you’ve never been there, you don’t care to go there, and you think that the bears ears will have a significant economic impact on city Creek?

[PorterRockwell]

You realize that outdoor retailer left slc because of Utah’s elected officials attitude towards public lands right? 40,000 visitors a year will no longer be coming to slc. Make sense now?

[ironman1315]

But what do they buy at city creek?

[PorterRockwell]

do they not stay in hotel rooms and shop in that area?  maybe they’re like me and have never set foot in there

[ironman1315]

But how much could they spend to cause a dent in the budget?

I’m guessing the shows make less than a blip in the overall economy.

[Utahute72]

And someone will take their place.  The show was already poised to exit and this was just an excuse.  Let’s not blame the Feds stupid land policies for one piece of negative news.

[PorterRockwell]

downtwon SLC hopes your right.  They lost six or seven shows over this ONE issue. 

[gUrthBrooks]

Wow. Somehow I think we’ll manage. But maybe you should do you’re hOmework a little better before hijacking a post not about Bears Ears. They were on their way out anyway.

[PorterRockwell]

Hey Genius I didn’t hijack your thread. I mentioned that a MAJOR retailers convention left SLC and that the hotel rooms etc might not see as much occupancy due to them taking their FIVE trade shows a year away.
Do you think those people people might shop at City Creek?

[gUrthBrooks]

Yeah. And they NEVER mentioned bears ears until the day they backed out. They were on their way out anyway, Patagonia and others wanted a different location, and then the environmentalists threw out bears ears on the last day. Until that point it was never brought up. 

 

You’re assuming O.R. Will get replaced by nothing. It will be replaced.

[ironman1315]

Comic con is certainly trying to replace. And I would guess another outdoor show promoter will try to replace it. Then some tech conventions could be coming.

[mokus]

I don’t mean for this to sound derogatory, but it seems to cater to the affluent Mormon mom.  I used to go there for work to have Apple products serviced, but I can’t think of another time I went there for personal reasons.  And I don’t imagine going back since I don’t work where I worked before.

[gUrthBrooks]

City creek is not just a mall. Consider the class A office space and the execs and professionals dining at lunch and dinner every day. I eat at the food court every week. The surrounding restaurants pull in a lot of non mall diners. You have a lot of big 4 accounting firms, legal firms, bankers, fund execs, etc. so, as someone who works on S. Temple, I would say it’s more than you’re mothers mall.

[PlainsUte]

Tell it to the people in the Gateway Mall. Retail is a zero-sum game, housing is similarly competitive.
http://www.sltrib.com/home/3485677-155/best-is-yet-to-come-

Moving to the downtown is more of a nationwide trend thing with Millenials and the following generation.

[Daedalus]

I lived Downtown between 2002-2004 and wished they had this kind of community then. Probably the best thing for residents that came from the City Creek development was the opportunity for Harmons to build across the street (I had to drive to get my groceries).

The only time I go to City Creek is to give out-of-town guests an attractive place to shop but of course they never buy anything. There are a few specialty stores that some people like: Tiffany’s, The Disney Store, Bose, etc.. And sometimes we hit the restaurants there.

It’s always very busy with tourists every time I’m there, though I wonder how many people actually buy those high-end items. It seems to be sustaining itself for now.