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SALT LAKE CITY (AP) -- The Church of Jesus Christ of Latter-day Saints has bought about 13 acres of real estate in downtown Salt Lake City.
The Church bought a 10-acre block directly north of the Little America Hotel and another 2- to 3-acre parcel directly north of the Grand America Hotel. The parcels are across from each other on either side of Salt Lake City's Main Street.
The land was owned by The Sinclair Companies, which are controlled by oil magnate and billionaire Earl Holding. Holding also owns both the Little America and Grand America hotels.
Church spokesman Scott Trotter confirmed Thursday that the purchase was made by its Property Reserve Inc. He says the land is a long-term investment and there are no immediate plans for development.
The price paid was not disclosed.
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Information from: The Salt Lake Tribune
(Copyright 2010 by The Associated Press. All Rights Reserved.)
