SANDY — With plans for the Proscenium Broadway-style theater scrapped and developer Scott McQuarrie withdrawing from the project, Sandy officials have gone back to the drawing board over what should be built on about 10 vacant acres just south of City Hall.
Sandy leaders have also agreed to pursue a development on some of the property with Russell Platt, who had been the original architect for the towering Proscenium structures. More information about the first buildings will be made public in January. Platt and the city currently have a nondisclosure agreement in place regarding that development.
So far, 40-story buildings are still allowed in the area, but everything could change, said Sandy economic development director Randy Sant. The master plan could be finished by next spring.
"It's a wonderful location," Platt said, "and having Sandy ask me to come in and do a study to create a downtown area would be any architect's dream."
Platt said the plan will call for a mix of uses such as housing and office space. He also wants an anchor, such as the Broadway-style theater, but doesn't yet know what it will be.
Platt and a team of traffic engineers and civic planners have been hired to help with the master plan, Duerkson said. Platt submitted the only response to a city request for qualifications published in early November.
Sandy purchased about 7 acres of the property from the bank earlier this year while the land was under foreclosure proceedings, said city spokeswoman Trina Duerkson. The $5.2 million price tag was paid from the city property acquisition budget. Under McQuarrie, the property was appraised at $8.7 million in 2008.
Sandy is also looking to purchase 3 acres adjacent to the Proscenium property. Negotiations, which may not include money exchange, are expected to wrap up within 60 days, Duerkson said.
Ultimately, the city hopes to sell the property. The municipality also expects to receive tax-increment funds from the completed project.
The deal has City Council Chairman Bryant Anderson looking for a high return on the investment.
"From a development point of view, it looks like a pretty good move," Anderson said.
McQuarrie could not be reached for comment.