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Economic downturn doesn't dampen interest in City Creek
Salt Lake Tribune ^ | May 27, 2010 | Lesley Mitchell

Posted on 05/28/2010 7:07:30 AM PDT by Colofornian

City Creek Center may be trying to attract retail tenants during tough economic times, but that doesn't mean there will be lots of empty storefronts when the massive project opens for business in early 2012, a representative said Wednesday.

Interest in City Creek -- one of the few large shopping centers in development nationally -- is high, Mark Gibbons, president of City Creek Reserve, said without elaborating.

SNIP

But City Creek Reserve, a development arm of The Church of Jesus Christ of Latter-day Saints, has yet to release much information about retailers that will fill 80 smaller speciality shops.

The church has partnered with well-known mall management and development company Taubman Centers Inc. to fill retail space.

SNIP

Financed by the LDS Church, City Creek has progressed since demolition work began in November 2006 with the destruction of two aging malls and surrounding structures...

(Excerpt) Read more at sltrib.com ...


TOPICS: Business/Economy; News/Current Events; US: Utah
KEYWORDS: economic; inman; lds; mall; mormon
From the article: Financed by the LDS Church, City Creek has progressed since demolition work began in November 2006 with the destruction of two aging malls and surrounding structures.

How many malls around the country are being financed by religious entities?

And with fewer shoppers out and about...
....8 million jobs lost across the country;
...1 in 10 Utah homeowners in trouble on their mortgages;
...Utah in the top 5 foreclosure states;
...Salt Lake City in the top 50 or so foreclosure metro regions in the country...
....does the timing and even philosophy of this make sense...
...especially considering some of this is coming from "offering plate $" from some of those who have lost their jobs, their homes, or are the verge of that?

1 posted on 05/28/2010 7:07:30 AM PDT by Colofornian
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To: Colofornian

I find very interesting and if I were lds I would find troubling the secrecy surrounding all these “building projects”. Where is the money coming from? Why are finances not revealed? Why does a “church” have the money to build malls while their people suffer?


2 posted on 05/28/2010 7:12:10 AM PDT by svcw (Habakkuk 2:3)
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To: Colofornian

I’m sure there will be enough karate schools and dollar stores to fill up the new mall.


3 posted on 05/28/2010 7:13:11 AM PDT by poindexter
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To: Colofornian

City Creek Reserve, a development arm of The Church of Jesus Christ of Latter-day Saints,

- - - -
AND THIS is why Churches need to lose their tax-exempt status.


4 posted on 05/28/2010 7:16:05 AM PDT by reaganaut (Ex-mormon, now Christian - "I once was lost but now am found, was blind but now I see")
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To: poindexter; Colofornian; reaganaut
Token Bar at 160 South Main used to be my old hang out when our business was in the Kearns Bldg up the block. Doubt they will last much longer.

Murphy's Bar and Grill

5 posted on 05/28/2010 8:58:45 AM PDT by Utah Binger (Mount Carmel Utah, 12 Miles East of Mukuntuweap National Monument)
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To: Colofornian
Do you love me?
City Creek Reserve, a development arm of The Church of Jesus Christ of Latter-day Saints
 
 
 
Do you love me?
City Creek Reserve, a development arm of The Church of Jesus Christ of Latter-day Saints
 
 
Do you love me?
City Creek Reserve, a development arm of The Church of Jesus Christ of Latter-day Saints

6 posted on 05/28/2010 9:06:09 AM PDT by Elsie (Heck is where people, who don't believe in Gosh, think they are not going...))
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To: Utah Binger

Hey, I was there once!


7 posted on 05/28/2010 11:20:56 AM PDT by reaganaut (Ex-mormon, now Christian - "I once was lost but now am found, was blind but now I see")
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To: reaganaut

So THAT was you? WOW!


8 posted on 05/28/2010 12:27:03 PM PDT by Utah Binger (Mount Carmel Utah, 17 Miles North of Kanab)
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To: Utah Binger

LOL. I looked a lot different then. ;)


9 posted on 05/28/2010 12:32:34 PM PDT by reaganaut (Ex-mormon, now Christian - "I once was lost but now am found, was blind but now I see")
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To: Elsie

Perfect!


10 posted on 05/28/2010 12:33:23 PM PDT by reaganaut (Ex-mormon, now Christian - "I once was lost but now am found, was blind but now I see")
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