October 8, 2013

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Goal!

Bringing a second major league sports team into Utah always seemed like an...Read More

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Around Utah
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Article

Around Utah

October 8, 2013

Salt Lake City – Phoenix Wine & Spirits announced it will be acquired by SOUTHERN WINE & SPIRITS OF UTAH, creating the largest wine broker in the state.

Salt Lake City – INCAPITAL announced it will expand its business by opening an institutional sales office in Salt Lake City.

Salt Lake City – HANSEN, BARNETT & MAXWELL joined EIDE BAILLY, bringing Eide Bailly’s Utah staff to 125 and raising its total staff to 1,300, including 194 partners.

Salt Lake City – WESTMINSTER COLLEGE’s CENTER FOR FINANCIAL ANALYSIS installed a new stock ticker and video boards to provide business students real-time global market data.

Draper – The new LONE PEAK HOSPITAL opened after 14 months of construction. The hospital is 116,854 square feet.

Salt Lake City – Search and recruitment firm MANAGEMENT RECRUITERS OF SALT LAKE CITY changed its name to THE NAVITRUST GROUP.

Salt Lake City – CHARTWAY FEDERAL CREDIT UNION announced plans to bring together two of its divisional credit unions, UTAH CENTRAL and HERITAGEWEST. Utah Central now operates under the name HeritageWest.

Salt Lake City – MAIER SIEBEL BABER purchased 136 E. South Temple, now known as the South Temple Tower, and plans to retrofit the building.

Salt Lake City – The GOVERNOR’S OFFICE OF ECONOMIC DEVELOPMENT led a trade mission to Peru with attendees from 38 companies and more than 60 participants in total.

Murray – BANK OF AMERICAN FORK opened a Murray branch at 5824 S. State St.

Salt Lake City – ZANIAC, an after-school activity and learning center, opened a Sugar House location at 1045 E. 2100 South. The first Zaniac learning center opened in Park City in February.

Snowbird – SNOWBIRD SKI AND SUMMER RESORT opened its new mountain coaster. The ride takes riders up 160 vertical feet, through trees and around two horizontal loops before ending at the base of the Peruvian Express chairlift.

Magna – ATK shipped the primary mirror backplane support structure for NASA’s James Webb Space Telescope to Marshall Space Flight Center.


 

Utah Valley

Development Plans for Geneva Land Unveiled

By Heather Stewart

Utah Valley residents will soon see walls rising at the former GENEVA STEEL MILL property. Eight years after purchasing the property, ANDERSON DEVELOPMENT has unveiled some of the shovel-ready development plans that will soon be underway.

Anderson Development paid $46.8 million for the Geneva property in 2005, assuming control of its demolition, cleanup and development. Since the purchase, it has been preparing the property for vertical development, says Stewart Park, project manager.

The LARRY H. MILLER GROUP OF COMPANIES plans to build a new Megaplex Theatre at Geneva. The theater will include an IMAX theater, 12 additional digital theaters and a full-service food court. The Megaplex Theatre, expected to be completed in late 2014, will serve as an anchor tenant for the Geneva site.

UTAH VALLEY UNIVERSITY, which owns 100 acres of land at Geneva, intends to exercise its option to buy another 125 acres. And DAY’S MARKET will also open a new location at the Geneva master-planned community.

The Geneva site encompasses 1,750 acres, with a 1.5-mile frontage along Utah Lake. Plans for the mixed-use development include residential, office, retail and industrial space. Full build-out of the property will take 10 to 15 years, says Park.

Construction is already underway on a 328-unit apartment complex, and another will break ground within the next few months, says Park. In total, 1,500 apartment or townhome units will soon be under construction.

Anderson Development has been demolishing old structures, removing tons of concrete, cleaning up contaminants, and installing roads and other infrastructure necessary for development. “About 60 or 65 percent of the property has been remediated consistent with its intended development plans,” Park says.

When complete, the Geneva development will be home to an estimated 26,000 residents and will add an estimated 20,000 new jobs in Utah County. The master-planned community will encompass 2 million square feet of retail space, 3.5 million square feet of office space, 5 million square feet of industrial space, about 7,600 residential units, an Intermodal hub and a town center.

“We view this as the crown jewel of Utah County and of the future of the county,” says Park.

 

Provo – Seattle-based Incipio Technologies Inc. acquired Provo-based BRAVEN LC. BRAVEN will remain in Provo and the BRAVEN brand will be maintained as a separate product line.

Orem – PEAK CAPITAL PARTNERS acquired two multifamily communities in North Carolina, a 274-unit complex and a 184-unit property.

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