Salt Lake City approves $7M loan to build boutique hotel at The Gateway

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  • H. Bob Salt Lake City, UT
    April 25, 2019 10:08 a.m.

    $7 million's not so much; it's about a third of what the Salt Lake City RDA gave Larry Miller when he was building the Delta Center, and that's turned out pretty well for that side of town, right?

  • Bob Tanner Price, UT
    April 24, 2019 10:10 p.m.

    I think it is a great idea and a great place for a hotel. But...the design of the building is really lacking in aesthetics and balance with it's surroundings. We don't need another 1980's looking hotel. We deserve better and so does the Gateway.

  • Johnny Triumph Salt Lake City, UT
    April 24, 2019 10:15 a.m.

    It's going to take more than a boutique hotel to turn the Gateway mess around. Step 1 is the soon to happen removal of the homeless issue. Step 2 is to continue the progress that was expected when the development started back in ~2000.

  • Culture Warrior Salt Lake City, UT
    April 24, 2019 9:41 a.m.

    Just thinking about this placement, it seems interesting to wedge it right there between the station and the steps, but hey, the pics look cool.

  • Flipphone , 00
    April 24, 2019 9:34 a.m.

    Will be a very nice addition to down town SLC.

  • DN Subscriber Cottonwood Heights, UT
    April 24, 2019 9:05 a.m.

    There are a lot of banks in Utah who make loans for building projects, but are picky about making sure they are likely to repay the loan.

    Apparently, the SLC Council, wearing their redevelopment hats, have no such concerns and are happy to loan $7 million to a huge corporation at a low rate. Lower than bank rates, probably.

    Once again the taxpayers are stuck with all the risk and none of the potential profits. Big government really does know best, after all.

    Shame on all those who voted for this government intrusion into what should be strictly a private business transaction using private money.

    And we wonder why taxes keep going up?

  • quackquack Park City, UT
    April 24, 2019 8:21 a.m.

    Love it Utahans actually denied this Hotel a few years ago it back then it was called "Mega-Hotel"

    So let discuss those cleaner air policies ROFL sorry to tell you people this legislature is bent on turning Utah into a mega-metropolis aka Silicon Valley the days of Natural Scenery and quiet Sunday mornings are a thing of the past.

    Everything is going to get more expensive and the days of low cost of living are quickly diminishing welcome more crime and more out of state visitors and big city living aka Mini Los Angeles.

  • J. Smith Salt Lake City, UT
    April 24, 2019 7:24 a.m.

    A beautiful addition to the neighborhood. Through gentrification you drive positive urban renewal.

  • Thomas Thompson Salt Lake City, UT
    April 24, 2019 5:30 a.m.

    I appreciate that our "Redevelopment Agency" should be in a position to encourage private development. But isn't it the primary function of banks to loan money? Should government be involved in competing with licensed businesses that have significant expertise in lending money?

  • utahute69 Laguna Niguel, CA
    April 23, 2019 9:17 p.m.

    So is the loan secured by the real estate and if so is it subordinated to the land and construction loan?. Little things like that could make a big difference to residents of SLC if the project fails to materialized as planned.