Estimated read time: 3-4 minutes
This archived news story is available only for your personal, non-commercial use. Information in the story may be outdated or superseded by additional information. Reading or replaying the story in its archived form does not constitute a republication of the story.
PLEASANT GROVE — St. John Properties announced a $600 million investment into Utah County Tuesday as part of the sixth phase of development for Valley Grove, a mixed-use commercial area off I-15 in Pleasant Grove.
Daniel Thomas, regional partner for St. John Properties, said he is overwhelmingly grateful for the community of builders that has helped him make the Valley Grove vision come to life.
Valley Grove first began development in 2015. The entirety of the Valley Grove development encompasses 128 acres and accounts for a $1.2 billion investment into the city by St. John Properties. Currently, the development includes numerous restaurants and office buildings.
Gov. Spencer Cox and Thomas, along with city leaders, broke ground Tuesday for the sixth phase of development.
This new phase will cover 47 acres of land, adding 300,000 square feet of office space, 200,000 square feet of retail space, more than 30 restaurants, a new hotel, a 2.12 acre promenade meant to be a community gathering space and 1,155 "luxury" homes, the company said in a news release. Developers did not specify Tuesday whether they would be single-family homes or a mix of single-family and higher density housing.
"This idea of gathering places has become more and more important to me over the course of my public service," Cox said during a speech at the groundbreaking. Humans are wired for connection and prioritizing community areas is essential to provide opportunities for connection, he said.
Cox said he is very proud of the economy of the state and looks forward to the economic growth this development will bring, but "none of that matters if we don't build community."
Cox said he experienced a "palpable sense of community" as hundreds of people came together to enjoy the famous cherry blossoms at the state Capitol in the past two weeks.
He emphasized the need for more "third spaces" like that. First and second spaces are home and work, but "we desperately need those third spaces. Places where we as a community can come together."
This new development is meant to become a gathering space where the community can find connection, Cox said.
Thomas spoke of Utah's motto "Industry" and how his company is trying to emphasize that ideal in its development plans for the city. Thomas said there is still a lot of work to do to bring the vision of Valley Grove to life, but Tuesday's groundbreaking was a celebration of progress so far.
"We aren't able to do any of this without our clients, without our tenants," Thomas said.
During a luncheon before the groundbreaking, Thomas announced St. John Properties is donating $25,000 to Alpine School District to aid in restoration efforts of the block letter G that is painted on the mountain. Students at Pleasant Grove High School started raising funds to restore the G last year to help preserve the landmark that has lasted for more than 100 years.
Development can be wonderful or terrible, Cox said. Economics are important and the governor said he is proud of Utah's economy because it allows Utahns to do more things that matter.
"But it is so much more than that," Cox said. "We are more than just our economic output."
Utah is unique and special because of the entrepreneurs, developers and citizens who understand their role is not just to make money, but to give back to the community after they find success, Cox said.
Builders are job creators and enable entrepreneurs to do what they do best.
— Utah Gov. Spencer J. Cox (@GovCox) May 9, 2023
Glad to join @stjohnprop today for a groundbreaking ceremony in Pleasant Grove! pic.twitter.com/lrpGZlIesf
"This is the positive type of growth: setting aside a couple acres in a development that could be used to make a lot more money, for a community gathering spot. Writing those big checks to make sure our young people, our old people, understand that you are part of this vibrant ecosystem that we have here in our state," Cox said.
Cox said he is grateful for all of the people in the state who are building and making their community a better place to live.
"You, the builders, are the job creators. You are what makes our economy tick," Cox said. "We are living in the best state in the United States and it's because of you."
St. John Properties did not announce a completion date for this development project.
