The Signetics building at the top of the parkway in Orem estimated by some to be worth $30 million, will come down - but not right away.
"We've announced our projects for 1996 and Orem is not on the '96 list," said Rob Boley, spokesman for Fred Meyer stores' management.Fred Meyer bought the property at 1200 S. 800 East, buildings included, from Philips Electronics this past year. Overall, 523,000 square feet of space is involved on the 23-acre site. The deal was finalized in late September.
Originally the plan was to salvage at least the main building - which a competitor for the property called a unique and irreplaceable asset among such facilities - and refit it to become a superstore for the retail merchant.
"It just wasn't working," said Boley. "I know there was a lot of effort put into trying to make it work because our initial plan was to use the existing building."
Boley said the decision wasn't made lightly because "it costs a lot to knock a building like that down. Of course it's expensive to raze, but it's also expensive to remodel and you have to choose the better option.
"Whatever we looked at would have meant we'd have to compromise for the customer. Our priority is to provide a better store for our customer."Boley said he isn't aware that a schedule has even been set for the Orem project. "I do know it won't happen overnight," he said.
He guessed that the demolition may occur in 1996 but the store won't be started earlier than 1997.
"We have dozens of sites like this landbanked," said Boley. "Our preliminary plan is set. Now we get funding in place and then put it on a project list. We do between four and six a year."
A full-size Fred Meyer store like the one planned in Orem takes a little over 12 months to construct, he said.
The new building will not be as massive as the existing all-brick structure. It will be only half as tall and easier to access, said Boley. There will be more landscaping, especially across the back or east side where the company has promised a berm.