Though plans for a large mall in Pleasant Grove are in limbo after the original developer dropped out, the city is continuing to plow forward with grand economic plans.
The Westwood Development Group announced in January it was planning to build Sundance Commons, a project representing $200 million in capital investment before businesses moved into the area, with at least a half a billion dollars or more in anticipated investments. City officials said in January the mall could generate $2.1 million annually in sales taxes and $500,000 in property taxes. The project was planned at the Interstate 15 interchange.
Brandon Fugal, vice president of Coldwell Banker Commercial, said Westwood failed to financially perform in a timely manner and after having two other developers waiting as viable backups for the project, all contracts became void.
"Westwood Development couldn't perform, but this project is still a reality," said Fugal.
The original plan was to start road and infrastructure improvements this summer, and break ground in 2007.
"The theme and concepts are still viable and have been embraced by multiple retail tenants. There will be, indeed, an upscale lifestyle retail development at the interchange coupled with dynamic development to be announced next week."
Pleasant Grove officials plan to unveil plans of their own next week. On Wednesday they'll make the announcement, which is expected to be another major economic development package along the freeway interchange property.
"I cannot disclose the specific economic development or real estate information until it is finalized," said Pleasant Grove Michael W. Daniels. "This is their information to divulge and we will not sign final agreements until right before the announcement is made at 9 a.m. on Wednesday."
No one else involved is willing to reveal project details, either.
But it's not the only other project in the area.
According to Fugal, Dennis M. Baker and Associates are also preparing to break ground on an office park adjacent to the BMW dealership under construction in the area. The park, which will be just north of BMW, will consist of five "Class A" buildings approximately 300,000 square feet.
"We are in the midst of signing our first anchor tenant for this business park, but we will proceed with or without them," said Fugal. "This whole area is taking off ... ."
This story appeared in The Daily Herald on page D1.
Posted in Local on Thursday, June 29, 2006 11:00 pm
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