$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?
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.
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
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.
Will be a very nice addition to down town SLC.
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?
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
A beautiful addition to the neighborhood. Through gentrification you drive
positive urban renewal.
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?
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.