Salt Lake County is shaking things up downtown with a hefty land sale aimed at economic rejuvenation. In a move approved by Mayor Jenny Wilson and the County Council, approximately 6.5 acres of county-owned property are being sold to Smith Entertainment Group (SEG) to stimulate economic growth and revitalize the urban core of Utah's capital, per Salt Lake County.
Strategically situated between South Temple and 100 South, and 200 and 300 West, the parcel is currently occupied by parts of the Salt Palace Convention Center. The sale is part of a grander scheme to amp up the downtown area, pulling conventions, sports, and culture into a more vibrant nexus. Mayor Wilson hailed the deal as "a catalyst for long-term growth, a stronger downtown, and significant benefits to residents across Salt Lake County," as obtained by Salt Lake County.
Following the land handover to SEG, plans are to demolish the existing exhibit hall space and integrate it into a redesigned section of the Salt Palace. This redevelopment venture is designed to go forward through phased construction to keep the disruptions to minimum, allowing for continued hosting of events at the venue. The property's shift from tax-exempt to taxable is anticipated to bring new property tax revenue and, along with the Utah Hockey Club's recent arrival doubling Delta Center's sporting events, is expected to push up economic contributions significantly.
The County Council emphasizes the potential future benefits, including an increase in both local and state tax revenues fueled by tourism and hospitality, and a promise of enhanced connections between prominent downtown hubs. County Council Chair Dea Theodore told Salt Lake County, "This innovative land transfer represents a once-in-a-generation opportunity to transform downtown Salt Lake City and deliver lasting economic benefits that will reach every corner of Salt Lake County." The council resolves to back Mayor Wilson in executing the purchase and finalizing the transaction with SEG.
