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Tom Smart, Deseret News
Apartment complexes are under construction on the former Geneva Steel site Tuesday, May 27, 2014, in Orem.

VINEYARD, Utah County — Developers are moving fast with a variety of projects on the old Geneva Steel property in Utah County.

It’s been almost 12 years since Geneva Steel shut down for good. Over the years, the property fell into bankruptcy and was purchased by developers.

Stewart Park, with Anderson Geneva Development, says this development will once again be an economic boost to Utah County, just as the steel mill was for decades.

"When the steel mill went out of business, we purchased it in 2005 out of bankruptcy,” Park said. “We have spent the past eight to nine years cleaning the site.”

The biggest cleanup involved removing hundreds of thousands of tons of old concrete. Much of it is being recycled and used for roads and fill material on the site, as well as slag from the steel mill.

Soon, the property will have single-family homes and several high-density housing areas, including a townhouse project, which is already sold out.

But this is a mixed-use development.

"We are projecting over 2 million square feet of retail, over 3 million square feet of office and 5 ½ million square feet of industrial,” he said.

The developer said the location is also a plus — an open area in the Provo-Orem community with three freeway exits nearby, along with commuter rail.

"FrontRunner comes through right now but doesn't stop,” he said. “Once we have that developed, FrontRunner will have a stop here at the site.” The FrontRunner stop is likely still a couple of years away.

And just last week, work started on a new Megaplex movie theater that the developers say will be a catalyst for more retail, including restaurants and shops.

"It will be a 13-screen theater. It will be an IMAX; it will be the first IMAX theater in the Provo-Orem, central Utah County area,” Park said. The movie theater is scheduled to be finished next spring.

More development is planned for the site as more contracts are signed.

“Approximately 60 percent of the available land is under contract with more agreements pending. Utah Valley University continues to play an important role in the development of this site with 100 acres purchased and an additional 125 under contract for purchase,” Park said.