Salt Lake City: Official Development News Thread - Part 5

[Marvland]

Originally Posted by TheWire

Looks like he had been battling cancer for quite some time.

http://www.sltrib.com/news/business/2017...wn-salt-lake-city-what-it-is-dies-at-53/

The guy was an icon for sure. Iprops is a brokerage full of great people. I've been critical of some of the lack of development of his things for sure but he was a very kind gentleman every time I met him and was known as a super honest guy. RIP.

[bob rulz]

Seems to me one of the reasons he's slow to develop his property is because he wanted to make sure it would be done right before he developed them.

[asies1981]

Another big company is moving to the northwest quadrant.

[San Diego-Honolulu]

Originally Posted by asies1981

Another big company is moving to the northwest quadrant.

Very impressive lineup of the names of those companies with distribution centers in that area. I can definitely see why it’s an attractive location with it right next to the 80 freeway and not too far from the 15 and the 215 as well as the SLC airport.

I know that a new state prison is in that area and I wonder if in about ten to fifteen years if people will complain about how close a prison is to businesses.

[TheWire]

In other news, the RDA has purchased back the 255 S. State Street property. This is great news. Sounds like it will be razed and slated to fulfill on the promise of affordable housing. Councilman Kitchen expressing the desire to “move fast ‘and maybe get a tower of some sort.’”

http://www.sltrib.com/news/politics/2017...k-blighted-state-street-housing-project/

[linguisize]

Originally Posted by TheWire

In other news, the RDA has purchased back the 255 S. State Street property. This is great news. Sounds like it will be razed and slated to fulfill on the promise of affordable housing. Councilman Kitchen expressing the desire to “move fast ‘and maybe get a tower of some sort.’”

http://www.sltrib.com/news/politics/2017...k-blighted-state-street-housing-project/

Movement! This is a good thing. Thanks Councilman Kitchen. I'm skeptical of any kind of actual tower given its already rough history, but any kind of anything would be an improvement here. The spot is just so prime though, maybe they can pull some kind of tower out of it.

[Always Sunny in SLC]

Originally Posted by San Diego-Honolulu

Very impressive lineup of the names of those companies with distribution centers in that area. I can definitely see why it’s an attractive location with it right next to the 80 freeway and not too far from the 15 and the 215 as well as the SLC airport.

I know that a new state prison is in that area and I wonder if in about ten to fifteen years if people will complain about how close a prison is to businesses.

This is one of the main reasons why putting the prison there was a joke.

[Stenar]

Originally Posted by Always Sunny in SLC

This is one of the main reasons why putting the prison there was a joke.

It was a bad idea to put it there for many reasons, but I don't think many (or any) of the light industrial businesses are going to care if there is a prison nearby. Also, all of the companies that are currently building facilities in the area know there will be a prison in the vicinity.

[bob rulz]

Originally Posted by TheWire

In other news, the RDA has purchased back the 255 S. State Street property. This is great news. Sounds like it will be razed and slated to fulfill on the promise of affordable housing. Councilman Kitchen expressing the desire to “move fast ‘and maybe get a tower of some sort.’”

http://www.sltrib.com/news/politics/2017...k-blighted-state-street-housing-project/

It's about time. At this point I would take an empty gravel pit over the half-built steel structure.

[Liberty Wellsian]

Originally Posted by TheWire

In other news, the RDA has purchased back the 255 S. State Street property. This is great news. Sounds like it will be razed and slated to fulfill on the promise of affordable housing. Councilman Kitchen expressing the desire to “move fast ‘and maybe get a tower of some sort.’”

http://www.sltrib.com/news/politics/2017...k-blighted-state-street-housing-project/

I agree with councilman Rogers. If there are developers already interested in purchasing that property then the city should back off and spend that RDA money elsewhere in the city. We need more affordable housing but it doesn't necessarily have to be at 250 South State.

[Always Sunny in SLC]

Originally Posted by Liberty Wellsian

I agree with councilman Rogers. If there are developers already interested in purchasing that property then the city should back off and spend that RDA money elsewhere in the city. We need more affordable housing but it doesn't necessarily have to be at 250 South State.

Agreed. The RDA should focus on properties that are neglected, not ones that have plenty of developer interest.

[delts145]

Spot On!!

Originally Posted by Liberty Wellsian

I agree with councilman Rogers. If there are developers already interested in purchasing that property then the city should back off and spend that RDA money elsewhere in the city. We need more affordable housing but it doesn't necessarily have to be at 250 South State.

Originally Posted by Always Sunny in SLC

Agreed. The RDA should focus on properties that are neglected, not ones that have plenty of developer interest.

[Always Sunny in SLC]

Originally Posted by delts145

Spot On!!

This might be more about hubris because the RDA so royally screwed up and so they want to redeem themselves or at least in their eyes.

[ThePusherMan]

Originally Posted by Always Sunny in SLC

This might be more about hubris because the RDA so royally screwed up and so they want to redeem themselves or at least in their eyes.

Of course it is about hubris! The RDA bought it for 4 million so they can turn around and sell it for 3.5 to the same California developer who was bidding on it along side them. Costs the city a measly half a million dollars so that they can say "look what we did" three years from now.

[Stenar]

Originally Posted by bob rulz

Seems to me one of the reasons he's slow to develop his property is because he wanted to make sure it would be done right before he developed them.

Did he actually ever develop anything? I've only known that Priskos bought existing buildings and rented them out and brokered deals. I've never heard of him developing anything, until the rumors that he was going to build a convention hotel.

[bob rulz]

You could be right about that. I don't know everything he owns or has owned.

[ajiuO]

Originally Posted by Stenar

Did he actually ever develop anything? I've only known that Priskos bought existing buildings and rented them out and brokered deals. I've never heard of him developing anything, until the rumors that he was going to build a convention hotel.

The Salt Lake Tribune Building.

[ajiuO]

So I found a radio broadcast from back in February featuring Vasilios Prisko.

He said that the CCH was being developed by Stan Castleton of DDRM. He also said that they were looking at 3 sites, and that he hoped it would end up being his site because he felt they had the most to offer. He said that he would fully support any of the 3 sites and that if his site was not selected that he would develop a smaller 300-500 room hotel on the site, but he would not do it if no CCH was built. He said that he was hoping to know by April... witch interestingly enough fits in with a post that someone made about that announcement in April that never happens... I kind of wonder if him getting sick with the cancer slowed things down.

Here is a link to the CCH developers website.
http://ddrmcompanies.com/index.php

[asies1981]

Photo update on West North Temple projects.

[Utah_Dave]

I was getting antsy about not hearing any info on the CCH so I actually reached out to Mr Priskos to try and get some details from him. I left him a message and he actually called me back a few days later. He was very enthusiastic about the possibilities and shared some of the possibilities and what he envisioned. I was saddened to hear he passed. It's really to bad we lost him because he had some pretty big plans. The last time we spoke about the hotel was literally the day before the OR pulled out of Salt Lake. At that point in time he was hoping to build the CCH on the corner of 1st south and west temple. There was one hold out property that he didn't have yet. It was going to be a mix use of commercial on the lower levels, hotel and residential in the tower.. He thought it would be close to 500 ft tall and about 1.3 million sqft. He said, to put that into perspective, the church office building was about 1 million sqft. He didn't mind if I shared these goals of his but I didn't relay that info because the next day the OR pulled out and I new that would be a big blow to some already lofty goals. As the months progressed I didn't hear much because he said he could say much more but things were still slowly progressing. I'm assuming the plans were in front of the GOED to be reviewed or what ever but I didn't hear anything after that. I'm assuming this will be another blow to the project. Perhaps he made plans with his declining health to keep the project moving. Salt lake will miss this large player with the ability to collect properties for a large development.

I'm sad to see him go on several levels.