Station Park Development Ready to Boost Farmington Economy
- Jul 25, 2011
The Station Park development in Farmington is back on track and growing after it came to a standstill in 2007 due to the economic recession. According to Deseret News, almost all the retail space is already leased or about to be.
Situated on 67 acres of land, the project will total 900,000 square feet of space designed to host around 200 tenants. Developer Centercal Properties is planning a mixture of retail, entertainment, restaurant, office and hotel space that will boost the Farmington economy. According to its Web site, Station Park will benefit from the highest daily traffic counts in the state of Utah. Located at the intersection of Interstate 14, Highway 89, Legacy Parkway and the new Utah Transit Authority Commuter Rail, the site will be in the heart of incoming traffic from both Webber and Salt Lake counties.
Other development projects in the region haven’t managed to pick up following the blow of the recession, the site notes. The center of Salt Lake’s Sugar House shopping district is still empty, and construction of new shops, office buildings and condos have been at a standstill for four years now, due to lack of financing. The approval of a new downsized plan could however restart the project this fall.
Meanwhile, development remains stalled at the site of the former Cottonwood Mall. The $500 million project was delayed when the initial developer filed for bankruptcy protection. Holladay and Salt Lake County councils have voted to offer a 20-year tax subsidy to the new developer, permitting the delay of the development through to 2017.