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TO: |
Local Advisory Council |
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THROUGH: |
Jay Fox, Executive Director |
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FROM: |
Dave Hancock, Chief Capital Services Officer |
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PRESENTER(S): |
Paul Drake, Director of Real Estate and TOC |
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Sean Murphy, Facility Development Manager |
TITLE:
title
Salt Lake Central Station Redevelopment
end
AGENDA ITEM TYPE:
Discussion
RECOMMENDATION:
No formal action. Information only.
BACKGROUND:
In 2019, the UTA Local Advisory Council approved, and the Board of Trustees adopted, a Station Area Plan for Salt Lake Central Station. The plan envisioned the district as a vibrant community center, anchored by the historic Rio Grande Building to the east and a new, mixed-use office tower on the west, positioned between the light- and commuter-rail platforms. The new development and building would potentially accommodate long-term administrative facilities for UTA.
Since then, additional planning and assessments have occurred. The city refined its plans for redevelopment of the surrounding district, and UTA assessed the condition of several of its facilities, including our Frontline Headquarters (FLHQ). The assessment identified significant deficiencies in UTA’s current headquarters building. Many of the systems within the building have reached, or are approaching, obsolescence. Considerable development efforts are underway or proposed in the area, indicating appropriate timing of redevelopment. UTA has begun to explore how to leverage a facility investment to realize redevelopment at and around the Salt Lake Central Station to improve transit rider experience and add vitality to the surrounding area.
DISCUSSION:
UTA’s Facility Development team and consultants have explored the feasibility of developing a building at Salt Lake Central Station. Conceptual plans for the building and surrounding improvements have been completed. Plans include an improved indoor/outdoor transit rider environment with accommodations for restaurants, retail frontage, Amtrak services, and other amenities. The building massing and orientation will activate the Rio Grande Building on the opposite end of 300 South, which is intended to become a mixed-use, pedestrian-focused festival street. The building is conceived to include considerable private office space to optimize the transit-rich location and offset construction and operational costs. The development team is currently refining its financial strategy, identifying lending mechanisms and additional sources of funding for the proposed improvements.
ALTERNATIVES:
Not applicable (information only)
FISCAL IMPACT:
Current planning and design efforts are included in the approved budget.
ATTACHMENTS:
None