I'm sure RC Willey is being blessed by god!LOL!
Interesting. I note the stores were still in the "Mormon Corrider". But my
real point was I thought they church said they weren't going to impose closed
Sundays and no alcohol in the venues. Back to RC Willeys; I would shop based on
price especially for big ticket items like furniture, its not exactly an impulse
buy so I would see Sunday being okay to be closed. But if you have people
living in City Creek and the pull is the mixed use, then you would make it
unattractive to non-LDS if you put LDS restrictions in.
The result: This store outsells all others in the R.C. Willey chain, doing a
volume of business that far exceeds the volume of any competitor and that is
twice what I had anticipated. I cut the ribbon at the grand opening in October
this was after a "soft" opening and a few weeks of exceptional sales
Excerpt from 2001 Chairmans letter heres a postscript to a story I told
you two years ago about R.C. Willeys move to Boise. As you may remember, Bill
Child, R.C. Willeys chairman, wanted to extend his home-furnishings operation
beyond Utah, a state in which his company does more than $300 million of
business (up, it should be noted, from $250,000 when Bill took over 48 years
ago). The company achieved this dominant position, moreover, with a "closed on
Sunday" policy that defied conventional retailing wisdom. I was skeptical that
this policy could succeed in Boise or, for that matter, anyplace outside of
Utah. After all, Sunday is the day many consumers most like to shop.
the store immediately became a huge success and it has since grown. Shortly after the Boise opening, Bill suggested we try Las Vegas, and
this time I was even more skeptical. How could we do business in a metropolis of
that size and be closed on Sundays, a day that all of our competitors would be
exploiting? Buoyed by the Boise experience, however, we proceeded to locate in
Henderson, a mushrooming city adjacent to Las Vegas.
Bill then insisted on a truly extraordinary proposition: He would personally buy
the land and build the store -- for about $9 million as it turned out -- and
would sell it to us at his cost if it proved to be successful. On the other
hand, if sales fell short of his expectations, we could exit the business
without paying Bill a cent. This outcome, of course, would leave him with a huge
investment in an empty building. I told him that I appreciated his offer but
felt that if Berkshire was going to get the upside it should also take the
downside. Bill said nothing doing: If there was to be failure because of his
religious beliefs, he wanted to take the blow personally. The store
opened last August and immediately became a huge success. Bill thereupon turned
the property over to us -- including some extra land that had appreciated
significantly -- and we wrote him a check for his cost. And get this: Bill
refused to take a dime of interest on the capital he had tied up over the two
Warren Buffet (Berkshire Hathaway Inc) regarding Sunday closings:Excerpt
from 1999 Chairmans letter Here's a remarkable story from last year:
It's about R. C. Willey, Utah's dominant home furnishing business, which
Berkshire purchased from Bill Child and his family in 1995. Bill and most of his
managers are Mormons, and for this reason R. C. Willey's stores have never
operated on Sunday. This is a difficult way to do business: Sunday is the
favorite shopping day for many customers. Bill, nonetheless, stuck to his
principles -- and while doing so built his business from $250,000 of annual
sales in 1954, when he took over, to $342 million in 1999. Bill felt
that R. C. Willey could operate successfully in markets outside of Utah and in
1997 suggested that we open a store in Boise. I was highly skeptical about
taking a no-Sunday policy into a new territory where we would be up against
entrenched rivals open seven days a week. Nevertheless, this was Bill's business
to run. So, despite my reservations, I told him to follow both his business
judgment and his religious convictions.
Have you been to the City Creek condo site? I just received my first email on
the public offering and looks like over half of those condo's are reserved
already. AMAZING, considering this market. It's a unique location and a
property that will appeal to lots of wealthy especially LDS people because of
the location across from the Temple. City Creek will have NO PROBLEM selling
out, wish I could buy one in the opening round because they will go up
eventually. I'm sure there are some speculators on that list- but I bet a lot
are people that want them. I'm sure it's a second home for a lot, and will be
home to lots of LDS faithful. Kudos to the company marketing them- the site
shows the views and what the condo's will look like, appears as though not one
condo has the same floor plan, I love them already!
I thought the church wasn't going to impose "close on Sunday", "no alcohol in
restaurants" rules. Was I mistaken? This is a business venture not a religious
project. It would be dumb to impose rules that would make it non-competitive.
Either own or rent a condo, the outcome is the same. So what if rich people buy
just for ski vacations? Seems to me you complainers down there don't have enough
to do! Maybe you ought to get a job!
Is there any effort being made to insure that residential units go to owners who
will actually be living in them -- rather than to wealthy purchasers who only
want a place to stay on occassional visits to Utah for skiing, conference,
etc.?If not, the residents living locally could be too few to make
the businesses of City Creek thrive and survive.
I don't think they will have any problem selling out. These condos overlook the
SL Temple. If you go to their website you will see many of them are already
reserved. BYU has a campus downtown colocated with the LDS Business
college. I live out of state but plan on retiring to downtown SLC.
I grew up downtown when my family had a restraunt on main street. It has been
sad to see the decay over the years.
This is going to be really cool, I am sure...but who is going to buy/live in
these 700 condos/apartments? Salt Lake City is "booming?" In what way? We all
love to talk about this supposed "influx" of people moving here ALL THE TIME.
Who are they? Californians aren't exactly swarming over here with all their
equity anymore. We have over a year's worth of inventory in the real
estate market here, most of which is priced about 15% - 20% above what the
market can bear (in terms of incomes). I'm really concerned about what this
extra flood of units is going to do to property values. I hear there is going to
be a BYU campus downtown in a few years, so maybe there will be students able to
occupy some of those spaces. Surely they'll be priced for student budgets,
right? HA.Either way, props to the Church for putting some cash into
our downtown, which has so much potential to be really charming.
Blessings, even rich blessings, are in store for us all when this opens.
Downtown Rising indeed! With Trax to the airport, a new federal courts complex,
the new high rise on Main Street, a Hyatt Place at Gateway and City Creek Center
we will take a giant step toward a more vibrant downtown. Hooray for the whole
If its such a nightmare to live here, well, you don't have to..
Where's Port O'Call?Where's The Zephyr?Where's The Dead Goat?Where's DV8?Salt Lake has lame nightclubs, over-priced, marginal
restaurants- at best, and alot of superficial people all dressed up with nowhere
Just be thankful the LDS church has the backing and the will to do this. This
will help downtown SLC from getting anymore of an eyesore. SLC is booming and we
need to make way for that. Build it, and they will come. If not, we could use
some more sewing and quilt outlets :D:D:D
I think it's cool. I would love to have a condo there. Of course, I own a house
in nearby southern Davis county, so that's kind of a stupid trade on my part.
It would be awesome to be so close to all the culture. The Symphony, Ballet,
shopping. I absolutely love downtown and am so grateful it won't be a trash
heap. I never shop on Sunday and avoid stores open on Sunday as much as
possible, prefering to support the ones who keep the sabbath holy according to
my christian beliefs. There are others like me, obviously no one as big as the
LDS church is going to invest their wad on something doomed to failure. Shops
closed on Sunday? Well, go Saturday. Some of my Jewish friends shop
Sunday, not Saturday, I respect that a lot, I would welcome a Jewish funded
project with shopping closed Saturday. And yes, I'd frequent it on Monday
through Friday. Lets respect instead of bash! Who knows, maybe we'll all find
something way better than shopping on both weekend days!
The LDS Church may build it, but will they come? How many
department stores want to close 14& of the time (on one of the two weekend
days)?How many restaurants want to forgo their largest profit center
(wine and liquor)?How many JOBS are there downtown, for all of these
tenants to walk to work?We've travelled extensively the past 2-1/2
years, and nearly EVERY city has multiple "multi-use" developments. They're all
alike, with the same low-level chain stores and eateries. Cookie-cutter stuff
from coast-to-coast.Wouldn't it be nice, to just have downtown
back...with angle parking and four-hour meters?
I live in Spokane now and a major project like City Creek was planned for the
North bank of the Spokane River down town. It was going to be called Kendall
Yards. The project had tenants pull out, its investors pull out, retailers
decide not to come, dirt everywhere, no building of any kind, after 5 years.
Count yourselves lucky that the Mormon Church is bank rolling this incredible
project and will get it done and done right. I love Spokane but admire how Salt
Lake is able to dream big and then make it happen. Your light rail system is
another huge success story!
...despite its age and the economy. Why? Because it has good parking and
attractive stores. AND....we can shop there on Sunday.If I can't shop downtown on Sunday, or have a drink at a restaurant, I'm not
going to shop downtown.
Gateway did not kill the downtown mallsretail has about a 25-30 year life
spanlike Cottonwood and Ogden.University mall remains
competative because it has reinvented itself multple times Like
Valley fair; Crossroads and ZCMI were simply due to be rebuiltTrolley Square has also been handed around from owner to owner and the
shootings require a remodel (tragic accidents usually result in businesses
failing)Change is the norm City Creek will morph again in 25-30
years (and hopefully dump the skybridge)
...was supposed to do that? All it did, was kill the downtown malls.Now City Creek, if successful, will kill what's left of Trolley Square and
Sugar House. Then we'll have even more gaping holes in the ground.There is not enough population that spends *big* money to support all of these
How Much More Ice Cream Do We Need Downtown?
The key is getting people to live down there--where you have people, you will
have business. Smart move to put condos downtown. Here's to hoping the whole
thing is a success, for the sake of our fair city (and despite the pessimistic
Mormon-haters who want everything to fail).
Why not give thanks that the church had the forsight to renovate this
delapidated city. And the timing could not have been more perfect.While
the polititians are trying to destroy jobs and the economy, the church is
providing jobs and strengthening the local economy.
yes you will.
I for one can promise you this.....i WILL never spend 1 penny on any of the
shops, eating establishments or what ever is down there.
How unfortunate you'll never go past 400 south. You'll never get too eat at
I live and work downtown- we just moved and LOVE it! We sold a car and save a
lot because we don't drive south of 400S -City Creek in my opinion is nothing
less than spectacular! From a non-mormon I am very grateful to the LDS church
for investing in downtown. I've been on a waiting list for 3 years to see what
they're offering-those condo's are going to be BEAUTIFUL- I'm sure very exciting
for those that are fortunate to purchase/live there. I can't imagine
living in dense housing in one of the new projects in Sandy or anywhere other
than downtown (charging $300 a sq foot to live in a nondescript -no charm, no
restaurants, no theatres, non diverse neighborhood vs living in downtown for the
same price? Depressing! Look out Sandy- City Creek is coming and will
make all those that purchased your overpriced condo's regret it big time!
Nothing else can compete for location!I can't wait until Harmons Grocery
store builds downtown- please come soon!
Let's hope this massive investment will be a positive project for our city and
Please KEEP making dumb comments...that's why I read the Reader comments!
Please don't make dumb comments. My goodness!
The church, in right of god himself, is underwriting this project. It is right
that you boutique shop six days a week. Economics have nothing to do with this