July 1, 2012

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Tori Baker: Leading Lady of Salt Lake’s Art House Theater

Mark Meadows: Enjoying the Journey

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Funding Your Dream

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Business Trends
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The Need for Speed

Utah’s Alcohol Problem

Ernst & Young Entrepreneur Of The Year

Capital Gains

Editor's Note
Utah’s Tech Industry is Booming

Special Section
Meeting & Event Planning Guide

Industry Outlook
Technology Industry Outlook


Around Utah

Sarah Cutler

July 1, 2012

Park City - SDI REALTY GROUP closed a long-term transaction on Sunrise at Escala, a completed, unsold resort condominium development located within CANYONS SKI RESORT in Park City. The transaction was between the developer and CENTERBRIDGE CAPITAL PARTNERS, L.P. LANTERN ASSET MANAGEMENT, an affiliate of Centerbridge, will provide asset management services for the property, which will be converted from a condominium project to a branded timeshare resort.

Park City - STERLING BAY COMPANIES purchased the VICTORY RANCH CLUB development. Victory Ranch is a nearly 6,500-acre luxury home development located near Park City. It is home to an 18-hole Rees Jones championship golf course with panoramic views of the Wasatch and Uinta Mountains, Deer Valley, the Provo River and Jordanelle Reservoir.

Snowbird - The Salt Lake County Planning Commission approved SNOWBIRD SKI AND SUMMER RESORT’s proposed new location for a mountain coaster. The commission’s approval is contingent on more detailed site plans and meeting various governmental agency criteria, all of which Snowbird has addressed throughout the planning process.

2012 Sundance Film Festival Pumps Life in to Utah

Sundance - SUNDANCE INSTITUTE brought more than the arts to Utah this last January during the 2012 Sundance Film Festival, with an economic impact of $80 million for the state, according to the independent annual economic and demographic study conducted by the UNIVERSITY OF UTAH’S BUREAU OF ECONOMIC AND BUSINESS RESEARCH at the DAVID ECCLES SCHOOL OF BUSINESS (BEBR).

“First and foremost, our mission is really about making sure that this is a really vital platform for our independent film makers to have their work seen. Our goal is to get the work out in to the world, and if we do a good job with that what we’ve seen is that we have strong economic numbers,” says Jill Miller, managing director of Sundance Institute.

According to the report, the 2012 festival supported approximately 1,731 jobs, generated more than $69 million in media exposure, provided nearly $6.9 million in tax revenue and was attended by more than 46,000 people. The festival saw increased spending by attendees in lodging, food and beverage, auto rental and retail over the 2011 festival.

More than 66 percent of festival attendees traveled from outside of
Utah, approximately 5,795 visitors were from international locations, and nonresidents spent a total of $67.1 million during the festival.

Ivins - VISTA CHARTER SCHOOL, a K-8 public charter school, acquired its facilities with a $13.3 million round of tax exempt financing. The proceeds allowed the school to acquire the existing facility on five acres and an additional 2.5 acres to expand the parking and playground areas. Utah allows charter schools to issue tax-exempt debt as governmental entities, which enabled Vista to fund 100 percent of the cost of issuance with tax-exempt proceeds.

Washington County - FAMILY DOLLAR STORES will locate a new distribution facility in Washington County. Family Dollar plans to invest approximately $80 million to build an 800,000-square-foot, highly automated distribution center to serve its Western stores.

St. George - THE EGG AND I celebrated five successful years in St. George. During the anniversary celebration, the company donated 5 percent of all purchase proceeds to the Dixie Care and Share Community Soup Kitchen to help feed those in need. The Egg and I is located on the corner of Bluff and Sunset next to the Stadium 8 Theater.

St. George - CITY FIRST MORTGAGE SERVICES opened a branch located at 20 N. Main Street, Ste. 107. Roger Stratford of NAI Utah Southern Region represented City First Mortgage Services in securing its new office space.

St. George - LOGMYCALLS ended its beta period, which began in January. During beta, LogMyCalls won the Internet Telephony Product of the Year Award and the Customer Interaction Solutions Product of the Year Award.

St. George - SENIOR SAVER GUIDE selected TCS ADVERTISING & PUBLIC RELATIONS as its agency of record. For the past 20 years, TCS Advertising has helped numerous businesses create successful advertising and public relations campaigns.  

St. George - WASHINGTON COUNTY SCHOOL DISTRICT purchased 20 acres in Hurricane. The property is adjacent to the Dixie Springs development in hurricane. Tom Callister and Travis Parry of CUSHMAN AND WAKFIELD/COMMERCE represented the seller. Cushman and Wakefield/Commerce also represented the seller when a local investor purchased 39 building lots in Washington City. Mark Jensen in the Salt Lake City office of Commerce represented the buyer.

New Satellite Kidney Transplant Clinic in St. George

St. George - INTERMOUNTAIN MEDICAL CENTER in Murray and DIXIE REGIONAL MEDICAL CENTER in St. George are teaming up to bring new options to kidney failure patients in Southern Utah and Nevada.  

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