From Deseret News archives:

Church seeks hotel's lease

Part of Plaza Hotel would house LDS Business College students

Published: Wednesday, Jan. 11, 2006 9:27 a.m. MST
 |  E-MAIL | PRINT | FONT + - 
Property Reserve Inc., the real estate arm of The Church of Jesus Christ of Latter-day Saints, said Tuesday it is negotiating to buy out the lease of the Salt Lake Plaza Hotel, 122 W. South Temple in downtown Salt Lake City.

Dale Bills, a spokesman for the church, said in a prepared statement that the LDS Church has owned for some time the property where the hotel is located.

"If negotiations are successful, the majority of the building will continue to operate as a hotel," Bills said, "with remaining space allocated for proposed use as housing for LDS Business College students."

The LDS Business College is expected to move from its current location at 411 E. South Temple into the Triad Center in fall 2006. The LDS Church purchased the Triad Center, located between North and South Temple and 300 and 400 West, in June 2004.

Salt Lake City officials have said the relocation of the business college and BYU Salt Lake Center, also to be moved to the Triad Center, are key to an overall downtown revitalization plan.

In 2003, church officials announced a $500 million remodeling and revitalization plan for Salt Lake's two downtown malls, Crossroads Plaza and the ZCMI Center, both of which the LDS Church owns.

Story continues below
The existing malls, including The Inn at Temple Square, are expected to be razed to make way for the new mixed-use development, which may include about 900 housing units.

A time frame and specific details of the mall revitalization project have yet to be announced, but mall managers have put up signs announcing that the renovation is imminent.

Calls to the Plaza Hotel seeking comment were not immediately returned.


E-mail: danderton@desnews.com

Comments

You can be the first to comment on this story.

previousnext

Latest comments

Brewer STILL can hit the open shot regularly and can't defend. He's a great...

I know a guy who works in construction jobs, my neighbor, Robert, who looks a...

Mormon headstones vandalized in Wyoming

["Those who take exception to the mention of the religion of those who the...

After one week of good basketball people think Matthews is the 2 guard of the...

Another story of care and compassion! It is amazing how these organizations...

TO --- @Anonymous | 4:11 p.m ["I Call BS. The line "We have decades of...

TCU stuck at fourth in BCS

TCU will not get a chance at the BCS title game unless one of the other three...

Where can I sign the petition? I know alot of people who are wanting to sign...

4A: Timpview 38, Mountain Crest 21

Sorry that you have to watch the better teams on television now. It forces...

Obviously you care or you wouldn't be commenting. Please quit with the...

Advertisements
Advertisement