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There’s reason to be optimistic about the future of Salt Lake City’s Main Street business district and core downtown area. Details are lacking, and we don’t want to count the chickens before they hatch, but two organizations known for their business acumen and fostering exceptional quality are partnering in the mixed use redevelopment of what we now know as the ZCMI and Crossroads Malls.
Of course one partner, The Church of Jesus Christ of Latter-day Saints, has a vested interest in its headquarters neighborhood and has already said it will invest hundreds of millions of dollars to do the job right. That Taubman Centers, Inc., of Bloomfield, Michigan, would sign on speaks volumes about the prospects for success. Taubman is one of the nation’s most successful developers, owners and managers of retail malls. The publicly traded company has some 24 shopping centers across the country. It is a firm that wouldn’t get onboard had thorough research and analysis not demonstrated the viability of the project.
It’s an impressive partnership for a development they say will include a variety of upscale retail components and some 900 quality housing units in a mall environment. KSL, along with everyone else, looks forward to learning more about the details of what seems destined to become a landmark addition to the capital city.