A team of California and Ohio real estate developers Friday announced plans for a $250 million shopping mall, office and industrial park on 500 acres of open land 1.5 miles west of Salt Lake International Airport.
George Riemer, general managing part-ner of Los Angeles-based KFR Properties, said the developers plan to begin construction at the site in the spring of 2000 and be open for business by fall of 2001, in time for the 2002 Winter Olympic Games.The 1.5 million-square-foot shopping center will be called "The Grand Salt Lake Mall," the developers said.
KFR will develop the project in a joint-venture partnership with Forest City Enterprises Inc., a Cleveland-based company that is one of the largest real estate development companies in the United States. It specializes in big retail projects and is said to currently own 15.7 million square feet of retail space in 36 shopping centers in 11 states.
Mayor Deedee Corradini said she is pleased that the developers chose the site, which is within the Salt Lake limits.
"We expect the mall to become a tourist destination," the mayor said. "We anticipate 30-40 percent of mall revenues to come from tourist business."
The site is directly south of I-80 and west of 5600 West. Councilman Carlton J. Christensen termed it a "strategic piece of land" with its proximity to the airport.
Stuart C. Reid, director of community and economic development for the city, said the Corradini administration has supported the project from its inception, noting that it is expected to draw customers from Wyoming, Idaho and from communities all along the Wasatch Front.
"It will be an exciting, family-oriented place," said Reid.
Brian M. Jones, president of Forest City Development said the facility's architecture and design will reflect the "heritage and cultural values" of Utah.
Why the long gap between the announcement and the start of construction? Jones said the developers have to design the project, sign up tenants and do other "due diligence" work before breaking ground. "From where we are today, 15 months is actually a very short time," said Jones.
The project is intended as a mixed-use development. In addition to what the developers term the "value-oriented mega-mall," the complex will include parks, light industrial buildings, offices, research and development proj-ects, restaurants, shops and other airport-related businesses.
The mall is intended to be home to 12 to 18 large anchor tenants and 200 to 225 specialty stores, restaurants and food-court cafes.
It is expected that some 2,000 people will work on the construction of the project with 3,000 to 4,000 part-time and full-time jobs created at the mall upon completion.
KFR's Reimer was the project manager for Gruen Associates during construction of the ZCMI Center downtown in the early 1970s. In 1980, he developed Ogden's Newgate Mall along with Homart Development Co. KFR most recently developed the Centerville Marketplace in Davis County.
Forest City's projects include the 42nd Street redevelopment at Times Square in New York City; the Galleria at Sunset in Henderson, Nev.; and Showcase on the Strip, near the MGM Grand Hotel in Las Vegas.
Architect for the Salt Lake project is KA Inc, Cleveland; project engineer is CLC Associates, Englewood, Colo.; real estate consultant is Colliers CRG, Salt Lake City.
A ceremony to announce the mall was scheduled at the site for 11 a.m. Friday.