SALT LAKE CITY — With the recent announcement of two major retail and entertainment projects committing to the long-anticipated Cottonwood Mall redevelopment, the next step is a formal proclamation from the site owner of when the project will get underway.
But that timeline is unclear.
Earlier this month, Larry H. Miller Megaplex Theatres signed on as a major entertainment anchor at the 57-acre mixed-use redevelopment by announcing the company would build a new 10-screen, 2,300-seat complex — complete with a 3D IMAX screen. Additionally, in July, Smith’s Food and Drug announced that it would construct a 78,000-square-foot, full-service grocery store.
The planned redevelopment by the Howard Hughes Corp. will include about 620,000 square feet of retail and entertainment, 260,000 square feet of office and about 600 residences.
Headquartered in Dallas, the company owns, manages and develops commercial, residential and mixed-use real estate projects throughout the country. While Howard Hughes Corp. touts the planned redevelopment of the site on its website, the company has yet to make a formal announcement as to when the project will actually put shovels in the ground.
The Deseret News has contacted the company but received no formal response about when construction of the project might begin.
Holladay Mayor Robert Dahle said he is hoping for a spring 2015 groundbreaking, but he has heard nothing official from the developer.
“It’s really up to (Howard Hughes Corp.),” he said. “It’s been the No. 1 issue of residents since I started running for mayor last year.”
He said the community is anxious to fill “the big hole” located at 4835 Highland Drive. Having the project eventually completed will be a “net benefit to our tax base,” all the retailers around that area, and to some older residents who are looking to downsize from their larger family homes.
The project is expected to include housing for 600 individuals or families, including condominiums and townhome units that would require less maintenance and upkeep for those looking to simplify, he said.
Overall, Dahle said, the redevelopment will provide a much-needed boost to the community, both economically and from a recreation perspective.
“It gives our residents a local option for shopping, more restaurant choices (and) a local option for theater entertainment,” he said. “It will allow Holladay to be almost a self-contained community.”
He also noted that the planned development of commercial office space will likely bring more nearby employment opportunities for many local professionals.
“With the office component, if you want to live and work in the community, we’ll have a lot of offices in and around Holladay where you can locate your office and work right where you live,” Dahle explained.
Though no timeline has been announced, he believes the project might take up to three years to complete. Timing would depend on how the developer chooses to proceed, he said.