West Valley Condo Trends - Condominium Development Scrapped
July 17, 2007
The Valley Fair Mall located at 3500 South and
Interstate 215 in West Valley City is changing its development strategy. The
mall's redevelopment plans for underground parking and 200 to 250 condo units
built above the shopping area have been cancelled.
The mall’s developer cites two major reasons for the
cancellation. First, the 18 additional months of
development time required to construct the parking
and condos would significantly impact the business
survival of the mall's retail stores. Secondly, high
construction costs would price leases or the sale
price of the condominiums beyond what the consumer
would be willing to pay.
The revised plans include increasing the current 600,000 square feet
of retail space to almost one million square feet.
Olive Garden, Old Navy, Famous Footwear, Best Buy,
Ross, and Joe’s Sporting Goods expect to fill the
additional retail space.
(Source: Deseret Morning News, Monday, July 16, 2007)
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