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Originally Posted by SLCNative
We are never going to get vibrant streets like that again unless we build more residential downtown. Whether you like the design or not, it is helping bring residents into the city 24/7. Not just 9-5 on weekdays.
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Quote:
Originally Posted by Atlas
Edit: beat me to it
One thing downtown has been missing in recent decades is residents. People used to actually live downtown and it seems like the tide has finally been shifting back away from suburbia and auto-dependence lately. I would expect more ground floor retail once there is a larger consistent base of customers and, like the BSL article mentions, there will be upwards of 5000 new residents downtown in the next year or two. What was the total population downtown 10 years ago? 12k? That's going to be a huge increase and a boon to downtown business.
This Worthington Tower will be a welcome addition in that regard, and it does actually have ground floor retail. The podium is definitely underwhelming but if the facade looks as good as the renders it will be a nice addition. It's certainly nicer than Liberty Sky, imo.
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I agree with you both. Also, I agree with Blah_Amazing regarding the copper color. Attractive, interesting, and a welcome change for downtown.
Aren't all of these upcoming residential towers focusing on rentals, not condo sales? I'm sure there will be a market for the uber-wealthy/second home market condos developing shortly in the downtown area. However, for now, the overwhelming majority of these new towers will be built to accommodate those in the market to rent and have the higher tech, etc. income to rent downtown. Most will be singles and or dinks. Apparently, the latest reports are that the Salt Lake Market is one of the primary beneficiaries of the California and certain other States exodus.
Salt Lake has had a robust economy for quite some time now. COVID, while draining many metros of their brain and economic power, has only served to accelerate the Wasatch Fronts economic growth. A good insight as to what is happening and going to continue for the foreseeable future is this latest report out from the Milken Institute,
https://www.deseret.com/utah/2021/2/...-affordability.
Something worth noticing is definitely going on by way of a significant cosmic shift in Metro Salt Lake City. When was the last time the Wasatch Front had major developments being announced on a weekly basis? How often do we have two brand new from the ground up major ski resorts coming online? One of which will be targeted to the world's most wealthy clients, think Amangiri as a ski resort. Even Aspen and Deer Valley will be comparatively more along the line of commercial. Many existing resorts are talking or are in the midst of major expansion. Even Sundance was sold to international heavyweights, which I never thought I would see, and now announces the beginning of new structures and doubling its size.
When the Olympics and its thousands of international attendees converge upon Salt Lake City in 2030 or 34 it will be quite a different city from what it was in 2002. There will be a lot more of everything including retail, fancy hotels, and great entertainment, but it will be more expensive than what Utahn's have been used to over the years. Current business owners who can hang on like Marv and Pusher or the upcoming new business owners will thrive and greatly expand downtown Salt Lake's offerings. That said, you're going to have to pay more to frequent their businesses, that is if they're in the downtown area. In short, I predict that much of Salt Lake City Proper is going to be a very upscale, internationally popular, expensive island.