From Deseret News archives:

LDS Church eyeing Triad Center

S.L. Council to mull plan tonight that would facilitate buy

Published: Monday, June 7, 2004 9:57 p.m. MDT
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If the church does purchase the remainder of Block 84 (it already owns large portions of the block through two church subsidiaries — Property Reserve Inc., the church's real estate development arm, and Bonneville International, owners of KSL-TV and KSL Newsradio, which have their studios at Triad Center), it would have amassed all of the land between North Temple and South Temple from 100 East to 400 West.

Those six blocks are on top of the church's additional stock of downtown property, including the two blocks where ZCMI Center and Crossroads Plaza malls sit.

The church is expected to incorporate much of that property in its estimated $500 million redevelopment plans for downtown. Those plans include establishing the LDS Business College campus and a Brigham Young University extension on the church's western downtown blocks along South Temple. The redevelopment will also include renovation of the Crossroads Plaza and ZCMI Center.

A church spokesman wouldn't give many specifics about a potential Block 84 purchase but only said it is interested.

"We are studying the feasibility of whether the Triad Center project would work as part of the church's contemplated development," church spokesman Dale Bills said. "We currently have no obligation to purchase the project."

A representatives of M&S didn't return calls for comment Monday.

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The registered agent for M&S Triad, which is based in Larkspur, Calif., is the New York City-based CT Corporation System. The registered agent for CT Corp. is Salt Lake City attorney James R. Kruse, who did not return a call for comment Monday.

Jergensen said the RDA's permission is a "technicality" and he expects no opposition from the RDA board.

"We want to encourage economic development, not hinder it," he said, adding that the LDS Church has made no request to use RDA funds, loans or tax increments to facilitate either the Triad purchase or any of its redevelopment goals.


E-mail: bsnyder@desnews.com

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