CITY CREEK

FREQUENTLY ASKED QUESTIONS

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Project Scope and Overview

Why is the Church investing in downtown?

The Church of Jesus Christ of Latter-day Saints is committed to the development of downtown Salt Lake City as the home of its international headquarters. The Church is in a unique position to act as a major contributor, along with many others, to a vibrant, high quality downtown that will continue to be a regional destination.

What is the cost of the project? Are city or public funds paying for it?

The project is a private development which will not require any public funding. And no tithing dollars will be used from the Church. Some costs of the project will be recouped from sales of residential units and leasing revenues generated from retail and office space.

Does the Church have other partners in the project?

In addition to Taubman Centers Inc., City Creek Reserve, Inc. (CCRI) a property development affiliate of the Church, will be working with two other partners: Cowboy Partners, a Utah-based residential development and management company, and Harmons Grocery Stores, another Utah company which will own and operate the full-service grocery store on the Social Hall block.

What is the name of the new shopping center?

City Creek is the name for the entire redevelopment project. The project takes its name from the snow-fed source of drinking and irrigation water that flowed through the northern Salt Lake Valley when pioneering settlers first arrived in 1847.

When will City Creek be completed?

Projected completion is 2012. Demolition and excavation are complete. Underground parking garages are fully enclosed, and residential and retail construction are well underway.

What will the finished development look like?

A conceptual video tour is available on this website. Click here to take the tour.

Does City Creek have the backing of the Mayor and the Salt Lake City Council?

The project received city approval in April 2008. We listened carefully to the Mayor and City Council and will continue to work closely with them throughout the construction period to see that City Creek meets as many of the needs expressed by city leaders as possible in a privately funded, mixed-use development such as this. We feel project plans were much improved by the considerable public input we received.

What are some basic elements of the plan?

Physically it will be more open to the street and the city with attractive landscaping and water features in expanded open spaces. Construction will be completed with high-grade finishes. Both principal blocks will be integrated as a whole - above and below grade. The retail mix will be unique to the market.

When can we look for additional announcements?

Announcements will be posted on the Downtown Rising website and distributed to the media as they become available.

How will construction affect travel and parking in downtown Salt Lake City?

City Creek Reserve, Inc. is working with office tenants to provide alternate parking for employees and clients during construction. Information on traffic and public parking will be provided by the project managers on www.downtownrising.com (go to "Traffic, Parking, Business & Construction Updates"), on a toll-free hotline at 1-866-554-5588, and by W.A. Knowles Company, the construction impact mitigator hired by Salt Lake City and the Salt Lake Chamber to assist with all downtown construction projects.

How do we anticipate that the project will affect the rest of downtown SLC and the Gateway project?

We are confident in the future of downtown Salt Lake City and in the future of Utah. We expect that all projects in the city will work to the benefit of each other and to the people of our state.

How much parking will it have versus the current offering? Will there be a cost?

There will be more parking spaces - over 5,000 spaces in total. Market rates will be charged for parking as determined at time of opening.

Will the project be LEED (Leadership in Energy and Environmental Design) certified?

Sustainable principles are being applied in the design, construction and plans for operation of City Creek. For example, more than 50% of demolition debris was recycled.

City Creek is a LEED for Neighborhood Development (LEED ND) pilot project, one of 60 pilot projects in the country selected to participate in a focus group that is helping the U.S. Green Building Council finalize its new LEED ND certification process.

In addition, we are hopeful that our residential towers will qualify for some level of LEED NC (New Construction) certification.

What contractors are working on the project?

Utah-based Okland Construction, Jacobsen Construction and Big-D Construction are the general contractors. McCullough Engineering & Contracting is doing the renovation of the Deseret (First Security) Building. City Creek Reserve, Inc. (CCRI) will continue to work with local and national architects on the project. General contractors, in consultation with CCRI, are responsible for the selection of qualified subcontractors and suppliers.

Is the proposed route of City Creek an historical one?

The water features proposed for the project are representations of City Creek. Some historical descriptions indicate the south fork of City Creek may have run through the blocks occupied by the project.

Can the public make comments on the project?

The public is welcome to make comments on the project by using the email comment form found on the Downtown Rising website.

How do I contact those responsible for residential, office and retail space sales and leasing?

Please see the City Creek contact information page on the Downtown Rising website to reach the project team.

Retail

Who will be the retail anchors?

Nordstrom and Macy's will anchor the retail development. Both department stores are closed for construction and will re-open upon completion of the retail component of the project in 2012.

What will be the mix of the retail stores? Will it be moderate or upscale?

It will feature unique point-of-difference retailers (Taubman typically strives for 30 - 40%), in the upper moderate to better range, covering all categories of merchandise and focusing on apparel and lifestyle concepts.

How many stores will there be in the retail portion? How big will the retail portion be?

Over 80 stores are anticipated. In addition to the two anchors and food court, retail space will be approximately 500,000 square feet.

What will the new grocery store include?

The store will include a full-service delicatessen, large meat counter with fresh seafood and ready-to-cook entrees, a bakery, pharmacy, and a healthy living section. Owned and constructed by Harmons Grocery Stores, a Utah-based company, the new store will be located on the south side of Social Hall Avenue, east of State Street.

Will there be fine dining restaurants?

Yes.

Will any of the stores closed during the renovation be back for the mall opening?

Yes, but exactly which stores is still being determined. We will encourage stores compatible with the new retail format to re-join the project.

How long are anchor store leases?

Leasing terms are proprietary.

Will there be certain stores that won't be pursued due to the Church owning a portion of the Center? (i.e. Victoria's Secret, Abercrombie & Fitch, etc.).

Taubman will pursue prospective tenants consistent with the ones that make Taubman projects the hallmarks they are.

What will happen to the food court in the ZCMI Center?

The old ZCMI food court was demolished to make way for a new office building. A new food court is open between the Eagle Gate and KeyBank Towers at 28 S. State Street. Food court tenant include Chang Chun, Great Steak, McDonald's Sbarro and Suki Hana. Four additional vendors are expected to open by summer 2010. Hagermann's Bakehouse Cafe is open on the ground floor of Gateway Tower West on South Temple just west of Main Street.

Will Utah Woolen Mills be a part of City Creek?

Utah Woolen Mills, a family-owned Utah business that has been a part of downtown Salt Lake City for a very long time, is staying at their current location on South Temple Street. They will be open for business throughout construction.

Will there be a pedestrian bridge between the two blocks? Is it an essential element of the project?

In April 2008, Salt Lake City officials approved the overall plans for City Creek, which include a conceptual design for a pedestrian bridge over Main Street.

It is critical to retail success that the pedestrian bridge creates continuity on the upper and lower levels. The design of the bridge will be sensitive to the aesthetics of downtown and the surrounding environment.

Because CCRI is an affiliate of the LDS Church, will the open space and pedestrian thoroughfares operate under the same rules as the Main Street Plaza?

Open space at City Creek will be controlled by The Taubman Company, a strategic partner in the project that operates retail centers throughout the country. Behavior standards for the Main Street Plaza are specific to Church ecclesiastical property. By contrast, guidelines for open areas in City Creek will conform to standards used for privately owned commercial space.

Will the retail portions of the project be closed on Sundays?

Yes. Sunday closing has been the policy at the ZCMI Center since it was constructed. Contractual agreements at Crossroads Plaza allowed some stores there to remain open on Sundays. On property owned by the Church in the new development, all retail stores will be open six days a week. On property not owned by the Church, individual owners will determine their business hours.

Will alcohol be available at any location in the project?

The Church of Jesus Christ of Latter-day Saints has consistently made plain that in matters of public policy it is not opposed to responsible consumption of alcoholic beverages by informed adults.

Current state laws in Utah balance responsible consumption with measures to discourage alcohol abuse, reduce impaired driving and eliminate underage drinking.

In City Creek, a limited number of high-quality restaurant tenants who will operate on property not owned by the Church may apply for licenses to serve alcoholic beverages in accordance with existing state regulations.

What will happen to the historic ZCMI facade?

The facade has been temporarily removed to protect its historic elements during construction. Plans call for reassembling the facade in essentially the same location where it will become the Main Street face of the new Macy's store.

Why was the retail component reduced in size?

Planned retail space has been sized to allow the addition of residential buildings and to create a high-quality environment with a modified selection of stores in a setting that is unique to the market.

Will there be any cultural or entertainment attractions built into City Creek?

We foresee working with selected local artists for some of the permanent artwork. Theaters or live entertainment venues will not be included in the project.

City and county officials are discussing possible development of arts and entertainment facilities on nearby blocks.

Office

Will office buildings remain open during construction?

Most existing office buildings will remain open throughout construction. The Deseret Building (also known as the First Security Building) is closed for renovation until early 2011. A new six-story office building will be constructed on South Temple on the ZCMI block.

50 S. Main was imploded in August of 2007. Is KeyBank still a part of City Creek?

KeyBank offices moved to 36 S. State Street, which has been renamed the KeyBank Tower. A major remodel of the building's lobby and first two floors was completed in October 2009.

Residential

How much will the residential units cost? Will they be condominiums or just apartments for lease? When can we get more information about them?

City Creek's urban homes will include a mix of for-sale and for-rent properties. Click here to learn more about residences at City Creek.

How many residential units will be built?

Approximately 700 units will be constructed.

What can you tell us about the residential units to be constructed by Cowboy Partners?

Of the total residential units, Cowboy Partners, a Utah-based developer, will build approximately 100 condominiums on the corner of 100 South and 200 East.

Will "affordable housing" be part of the City Creek project?

Housing will be market priced. Typically, requirements to provide affordable housing in a project stem from developer requests for government subsidies, tax incentives or zoning changes. No such subsidies, incentives or changes apply to this project.