Skip to comments.Economic downturn doesn't dampen interest in City Creek
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.
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.
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 ...
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?
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?
I’m sure there will be enough karate schools and dollar stores to fill up the new mall.
City Creek Reserve, a development arm of The Church of Jesus Christ of Latter-day Saints,
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AND THIS is why Churches need to lose their tax-exempt status.
Hey, I was there once!
So THAT was you? WOW!
LOL. I looked a lot different then. ;)