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Sam Penrod ReportingA major new upscale retail development is coming to Utah County, near the new Cabelas. It will be big, 150- acres, and modeled after a new and successful shopping center in California.
The project is only in the planning stages, in fact it will be more than two years before any construction begins. But it will bring an estimated three thousand new jobs to the area when it is scheduled to be finished, in the spring of 2009.
The empty parcel of land, just off of the Alpine Highland exit near point of the mountain, will one day become a new outdoor type mall. Forest City, a California development company, plans to invest 250 million dollars for what will be known as "The Terrace at Traverse Mountain."
Colm Maken, President, Forest City Development: "It will be modeled after our Victoria Gardens in California, who today is the most successful property in our portfolio. It's probably one of the most successful properties in the country right now."
The mall will be built on 150 acres near the freeway, and adjacent to Cabela's. Developers promise to bring in national retailers that are not currently in Utah.
Colm Maken, President, Forest City Development: "It will be a mixture of entertainment tenants, fashion department stores, fashion tenants, junior apparel, food-- restaurants play a very important role in these type of centers today. It will be a place to stroll around and enjoy yourself."
The developer says the central location between Salt Lake and Utah Counties is a plus, as well as all of the customers attracted by Cabelas and visitors to Thanksgiving Point.
Gary Herbert, Lt. Governor of Utah: "I think this at point of the mountain between Utah County and Salt Lake County is going to become one of the true destination spots in our state. And I think people are going to flock from the intermountain area and nationwide to come to this place to shop, to visit Thanksgiving Point, to buy real estate. The potential is significant."
We did try to float a lot of names of stores, asking if they will be here. The developer won't say yet, but says negotiations will begin soon for anchor stores to locate here.