SLC: Performing Arts Center and 111 Tower

[Orlando]

My bad again. I forgot about that clarification. Sorry. Carry on.

[airhero]

Took a couple of pics yesterday. There's some interesting stuff going on inside the PAC.

[scottharding]

Cool picture! Pretty cool to see the first balcony going in.

[brankrom]

Rumor Mill: I had a convo and every indication is that GS will be the primary tenant for 111. My source tells me GS will employ more people in SLC than their NYC headquarters. Apparently GS wants to have both 111 and 222 as kind of a prestige thing. Initially it was indicated that 111 would be COB south but with GS needing high amounts of space in the building there may be some space for COB employees but not sure who else if anyone will be eventual occupants.

I wish I could remember actual numbers of future GS employment in SLC but it was huge... Huge. In the thousands for sure.

Big changes coming... unless GS implodes our economy... again.

[SLC Projects]

Originally Posted by brankrom

Rumor Mill: I had a convo and every indication is that GS will be the primary tenant for 111. My source tells me GS will employ more people in SLC than their NYC headquarters. Apparently GS wants to have both 111 and 222 as kind of a prestige thing. Initially it was indicated that 111 would be COB south but with GS needing high amounts of space in the building there may be some space for COB employees but not sure who else if anyone will be eventual occupants.

I wish I could remember actual numbers of future GS employment in SLC but it was huge... Huge. In the thousands for sure.

Big changes coming... unless GS implodes our economy... again.

I really hope this will help push the need to get 151 going soon. Great news.

[Wasatch Wasteland]

I seriously doubt that there will be more employed in salt lake than New York, the have multiple buildings they own themselves, some in 800 foot range.

[Makid]

Originally Posted by Wasatch Wasteland

I seriously doubt that there will be more employed in salt lake than New York, the have multiple buildings they own themselves, some in 800 foot range.

There are already more employed in SLC than NYC. SLC is #2 behind their office in New Jersey. SLC was only a few hundred behind New Jersey the last time I saw an estimated office employee count. I think it was a tribune article from a couple of years ago.

Now, SLC does include their personnel at Research Park still that they are wanting to bring into downtown.

It wouldn't be hard to bring SLC to the #1 position. They have stated that they would like to increase their employee count in SLC due to costs and worker environment.

I can see them filling 50% of 111 with just the people at research park (again, if the last numbers that I recall seeing are still accurate). Any expansion beyond this could include 151 or further filling of 111 or the last open floor in 222.

One thing to note is that there are other larger investment banks that have been looking at SLC for a bit and might also be willing to jump into the market soon if Goldman does further add to the employee count in SLC.

[Future Mayor]

Thanks for the insider information (maybe that a bad term to use when talking about investment banks )

With GS being the primary occupant of 111, moving their research park employees down and creating more or moving positions from other markets that will greatly increase the market for the CCC condos, including construction of The Cascade. As a large number of GS that were transferred here that work in 222, rented and purchased many units in American Towers.

I estimate that GS committing to 111 is the entire reason it is rising before 151, as they probably pushed the pre-lease level above 45%, often times the benchmark for funding, or maybe they were the entire 45%. Had they signed with 151 that would probably be rising first, and 111 would have been built to street level.

I would estimate that 151 could easily be a target for a new investment bank that wants a presence in SLC, or even City Creek 8, next to Harmons. I doubt investment banks want to be little brother in the same building as another investment bank. So I figure each one will want to be the dominant tenant in the building they occupy. Considering office occupancy rates are in the 90% range there aren't a whole lot of buildings that could accommodate any substantial new tenants.

Investment Banks and other bank headquarters tend to congregate around one another as it provides them access to a greater pool of talent in a concentrated area. Similar to silicon valley and the concentration of tech.

Five years ago, who would have ever thought that Financial Services, could be what grows Salt Lake City's skyline.

[H4vok]

Drive by...

111 South Main by H4vok_13, on Flickr

[Orlando]

Wow. Lots of progress. Thanks for the update!

[LandedIUtah]

Originally Posted by Makid

There are already more employed in SLC than NYC. SLC is #2 behind their office in New Jersey. SLC was only a few hundred behind New Jersey the last time I saw an estimated office employee count. I think it was a tribune article from a couple of years ago.

SLC has a long way to go before being larger than NYC for Goldman Sachs. They occupy all of 200 West, a 2.1mm square foot 44 story building, and have 7,500 employees in it. The SLC offices (combined) are larger than the NJ office though.

Originally Posted by Makid

Now, SLC does include their personnel at Research Park still that they are wanting to bring into downtown.

It wouldn't be hard to bring SLC to the #1 position. They have stated that they would like to increase their employee count in SLC due to costs and worker environment.

At less than 2,000 employees in SLC and 7,500 in the NYC headquarters, it's going to be a long time before SLC is #1, and that's only the U.S. - the second largest office for Goldman Sachs isn't in the U.S. and SLC isn't close to that one either.

Originally Posted by Makid

One thing to note is that there are other larger investment banks that have been looking at SLC for a bit and might also be willing to jump into the market soon if Goldman does further add to the employee count in SLC.

This is true, and hopefully there is a buildup of nightlife around the area to support youngsters earning high wages. Otherwise they'll do a couple of years to put it on their resume and move out of town. These big banks won't increase head count in SLC if they have difficulty retaining talent.

I would like nothing more than to see Main Street eateries and bars bustling after hours

[s.p.hansen]

[SLCdude]

[asies1981]

You guys have been doing a great job at photo updates for 111 and PAC. Here is my contribution, including pics from a few blocks away now that 111 can be seen from various points in the city.

[jedikermit]

Originally Posted by asies1981

You guys have been doing a great job at photo updates for 111 and PAC. Here is my contribution, including pics from a few blocks away now that 111 can be seen from various points in the city.

Nice additions, Isaac -- love the shot from the Gateway. I don't ever think about what buildings will look like from that side of things, but that's similar to the angle a lot of I-15 drivers will be seeing.

[delts145]

One of the things I like most about that shot from Gateway, is seeing the added development of Hyatt and Marriott on those former dilapidated lots.

111 will go a long way toward filling that hole between the north and south skylines.


111 Main as seen from the Gateway. Photo by Isaac Riddle. http://www.slcitynews.com/in-picture...ing-an-impact/

[utenation]

It's about time for a crane jump.

[Reachforthesky]

Eccles Theater branding unveiled, 'The Lion King' slated for 2017


Great video with new pictures of the inside of the new theater

http://www.ksl.com/?sid=33986692&nid...s_cid=queue-16

[ToysNoiz]

Has the design changed? It looks more basic.

[Stenar]

Originally Posted by ToysNoiz

Has the design changed? It looks more basic.

It looks the same to me.