Here's how a new refinancing will affect The Gateway's reboot

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  • NeifyT Salt Lake City, UT
    June 1, 2019 9:32 a.m.

    "The Arizona-based owner of The Gateway has refinanced its makeover of the one-time retail and entertainment hub to pay off debt and fund future improvements."

    This is what is wrong with America (both government and way too many private entities). They seem to have this belief that you can borrow your way out of debt.

    I am sorry to say this, but you can't. Borrowing money (refinancing)... doesn't pay off your debt, it only transfers it to someone else.

    There is an old saying about robbing Peter to pay Paul; well borrowing from Peter to pay Paul is no better.

  • Jason Berntson Salt Lake City, UT
    June 1, 2019 3:07 a.m.

    "The Gateway was a poorly executed attempt at revitalization."

    How about we actually wait for it to be fully revitalized before we make that assumption?

    Gateway was never going to succeed going forward solely as a shopping center with the ongoing "retail apocalypse". This retrofit seems to be reaping good results and there's much more to come.

  • Johnny Triumph Salt Lake City, UT
    May 31, 2019 12:04 p.m.

    The Gateway was a poorly executed attempt at revitalization. The best thing for the new developers is movement of the homeless population...

  • okeesmokee SALT LAKE CITY, UT
    May 31, 2019 9:06 a.m.

    "Refinances loan to pay off debt" is sort of like using your American Express Card to pay off your Visa. I understand they most likely consolidated the loan at hopefully a better rate and then borrowed more money to finance future improvements (which is common), but they didn't pay off debt.

    As an aside, the improvements at Gateway are good - I hope they are successful.