An investment in an extensive business venture near the north I-70 interchange in Richfield, previously reported to cost $400,000, will ultimately reach about $2 million.
Frontier Village will be built in two phases, according to Stanley Gleave, who owns the land and will construct the buildings. The first phase will cost about $1.2 million.The development will have a concept somewhat like Gardner Village in West Jordan, but there will be no connection between the two, Gleave emphasized. He will not own individual businesses.
"Gardner Village contains the outlines of the once bustling early Utah mill industry and history," said Marcia Banks, marketing director. "What remains today is a cluster of specialty shops located in restored cabins, houses and buildings nestled adjacent to the Garner Mill."
Gleave, a former teacher who lives in Orem but now spends much of his time in Richfield planning and working on the development, said it is anticipated the first phase of Frontier Village will open next spring. The second phase is planned to open near the end of 1998.
Private financing was obtained through Deseret Certified Financial in Orem, and the venture was approved for a loan through the Small Business Administration.
The first phase will include a steak house restaurant and shops selling gifts, Western wear, rocks, antiques, Indian curios and Western art, Gleave said.
The second phase will include craft shops. It was previously reported through a news release that the second phase would provide an outlet for the sale of craft items from Gardner Village, but the report was erroneous, Gleave said.
Banks said Gardner Village business owners have no intention of expanding to Richfield.