A tax-increment financed mixed-use mall redevelopment is showing signs of success in suburban Salt Lake City, Utah, raising nearby property values and indicating a trend amongst commercial developers who are finding profit by mixing uses.
"The $552 million redevelopment of Cottonwood Mall in Holladay, Utah..., is rapidly moving forward. The project represents a shift towards mixed-use development by General Growth Properties (GGP), the nation's second largest mall owner."
"GGP is negotiating to set up a tax-increment financing (TIF) district to pay for an estimated $65 million in infrastructure for the project and $10 million in off-site improvements, according to Spencer Angerbauer, developer with GGP. The difference between that amount and what the development would be paying - the 'increment' - could then be applied to pay off the infrastructure bonds, he explained. In the meantime, the city benefits from sales tax and the "halo effect" of rising property values in the area, he says. Talk of the site's redevelopment already caused nearby property values to rise, according to a recent article in The Salt Lake Tribune."
Thanks to The Intrepid Staff
FULL STORY: General Growth moves ahead on Utah urban center
Planetizen Federal Action Tracker
A weekly monitor of how Trump’s orders and actions are impacting planners and planning in America.
Congressman Proposes Bill to Rename DC Metro “Trump Train”
The Make Autorail Great Again Act would withhold federal funding to the system until the Washington Metropolitan Area Transit Authority (WMATA), rebrands as the Washington Metropolitan Authority for Greater Access (WMAGA).
The Simple Legislative Tool Transforming Vacant Downtowns
In California, Michigan and Georgia, an easy win is bringing dollars — and delight — back to city centers.
The States Losing Rural Delivery Rooms at an Alarming Pace
In some states, as few as 9% of rural hospitals still deliver babies. As a result, rising pre-term births, no adequate pre-term care and "harrowing" close calls are a growing reality.
The Small South Asian Republic Going all in on EVs
Thanks to one simple policy change less than five years ago, 65% of new cars in this Himalayan country are now electric.
DC Backpedals on Bike Lane Protection, Swaps Barriers for Paint
Citing aesthetic concerns, the city is removing the concrete barriers and flexposts that once separated Arizona Avenue cyclists from motor vehicles.
Urban Design for Planners 1: Software Tools
This six-course series explores essential urban design concepts using open source software and equips planners with the tools they need to participate fully in the urban design process.
Planning for Universal Design
Learn the tools for implementing Universal Design in planning regulations.
Smith Gee Studio
City of Charlotte
City of Camden Redevelopment Agency
City of Astoria
Transportation Research & Education Center (TREC) at Portland State University
US High Speed Rail Association
City of Camden Redevelopment Agency
Municipality of Princeton (NJ)