SALT LAKE CITY
April 1,
2008
Salt
City Plaza
Salt Lake City At
It's Best
Salt City Plaza
is a new upscale, mixed-use development located in the heart of
downtown Salt Lake City, UT, situated between 500 South and 600
South and immediately east of 200 West. The development will be
anchored by four (4) branded hotel properties totaling 542 rooms
and suites, incorporating Limited Service, Full
Service, Extended Stay, and Boutique styles into the
diversified mix. Other uses will include spa facilities,
restaurants, retail, and Class A office space totaling
approximately 120,000 square feet of rentable, commercial space
of which 90,000 square feet is Class A office space. In addition
to several ground level store-front spaces; parking for the
Salt City Plaza,
will be accommodated by a multi-story sub-grade, parking
structure. A centrally located, pool, spa and fitness facility
will accommodate guests from each of the four hotels as well as
office tenants.
Salt City Plaza
will encompass approximately 5 acres of prime commercial
property that will be developed in three phases.
Phase One,
of
Salt City
Plaza
will entail the demolition of a vacant convenience store located
at the corner of 200 West and 500 South. This demolition project
will provide space for a stand alone restaurant and bank. At
the same time, the two northern most buildings of the existing
Royal Garden Inn will be completely renovated including a new
lobby addition. The new lobby will provide a platform for
continued hotel operation of a 92-room Limited Service
Best Western hotel. Subsequent to the completion of the
new lobby facility demolition will continue to make way for
Phase Two of
Salt City Plaza.
Phase Two
will begin the construction of three new, branded hotels. The
first two hotels will be uniquely incorporated into an eleven
story high-rise component. The first six floors will be home to
a 180-unit Full Service Holiday Inn Hotel & Suites.
Floors seven through eleven will be home to a 150-unit Hotel
Indigo, the industry’s first ‘branded boutique’ hotel. These two
distinctly different hotel components will incorporate a blend
of design and finishing characteristics to create a one of a
kind experience which will include a terrace and lounge for the
Hotel Indigo located on the adjacent office building roof top.
Concurrently, a seven story, 120-unit Extended Stay
Staybridge Suites hotel will be constructed to complete this
well-diversified, elegantly styled, up-scale mixed-use
development. All three hotel properties will be serviced by a
pool, day spa and fitness center facility which will also be an
added amenity available to the office tenants.
Attached and
adjacent to the Phase Two hotel will stand a six-story
retail/office complex. Located on the 600 South frontage of the
site; this elegantly styled commercial structure will provide
premium exposure for a diverse range of tenants; from up-scale
restaurateurs to mountain sports outfitters and everything in
between. The first floor will include a 4,000 square foot
restaurant adjoining the high-rise hotel building. The remaining
7,000 square feet will be comprised of smaller retail spaces.
Floors two through six will feature Class A office space.
Phase Three,
leads construction north away from 600 South
where a second retail and office structure will be constructed.
This retail and office building will be comprised of five
floors. The first floor will feature retail space. The
second floor will feature 7,000 square feet of conference space.
Floors three through five will provide approximately 30,000
square feet of Class A commercial office space. This building,
as well as all of the Phase Two structures, will include access
to the sub-grade parking structure via multiple elevators and
stairways.
Salt
City Plaza Central
Park; will be
the final component of
Salt City Plaza.
With highly articulated, decorative stone pathways, shady trees
and well positioned park benches; the park will provide an urban
buffer zone from the fast-paced, downtown atmosphere, for the
weary traveler, and a relaxing lunch retreat for
Salt City Plaza’s
commercial
workforce.
“This is a
very dynamic project in a very dynamic Salt Lake City downtown
marketplace. We’ve pursued this project for more than two years
so it is thrilling to finally have it come together” said Jeff
Stockert, President and CEO of Utah Hospitality, LLC and Salt
City Plaza, LLC. “Intercontinental Hotels Group (IHG), better
known perhaps as the parent company of the Holiday Inn family
of brands, has worked closely with us to help bring this deal
together. In the course of approximately 48 months we will have
worked together to introduce over 900 new IHG rooms into the
Salt Lake City market culminating with this tremendously
exciting project. We are in the right place at the right time
with what we believe to be the right mix of hotel and office
space.”
The site was
acquired by Salt City Plaza, LLC in February 2008 by Aberdeen,
South Dakota based hotel and real estate development company,
Utah Hospitality, LLC. Phase one is scheduled to commence summer
of 2008, with the construction of the new Limited Service
lobby and renovation of the Royal Garden Inn. Phase Two
construction will commence immediately thereafter and is
expected to be completed Q3 2010.
The
Salt City Plaza
developers recently completed construction of a 92-unit Holiday
Inn Express Hotel & Suites just east of the Salt Lake City
International Airport, a 111-unit Holiday Inn Hotel & Suites &
Conference Center located west of the airport in the Salt Lake
International Center and a 64-unit Holiday Inn Express Hotel &
Suites in Tooele. This same group recently broke ground on
construction of a 94-unit Holiday Inn Express Hotel & Suites and
a 97-unit Staybridge Suites complex located immediately north of
the E Center in West Valley City. That project, which includes
an 8,000 square foot family-style indoor water park featuring a
165-foot water slide and extensive meeting space, is slated for
completion in Q1 2009.
Developer Jeff
Stockert can be reached at 523 Camelot Drive, Aberdeen, SD
57401 or by calling (605) 229-8685. |
