AgentMarkets & Economy

Salt Lake City looks for lift from downtown condos

Is there a market here for high-rise living?

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New York's famed Rockefeller Center was constructed during the heart of the Depression, with the ceremonial final rivet being put into place on Nov. 1, 1939. The expansive project, on 22 acres in the center of the Big Apple, was completely driven by the fortune of John D. Rockefeller Jr.

In downtown Salt Lake City, City Creek, a 23-acre mixed-use development featuring condominiums, retail and restaurants, has been under construction since the start of the current recession. This expansive project is completely driven by the treasury of The Church of Jesus Christ of Latter-day Saints, better known as the Mormon Church.

In New York, Rockefeller Center to this day remains a major tourist attraction. City Creek, being constructed in the shadow of Temple Square, expects the retail mall, managed by Taubman Centers Inc. of Bloomfield Hills, Mich., to be a major part of the tourist scene around the square. It is already unique, being the only region...