This $114 million, 2,500-seat performing arts center will present a variety of entertainment including touring Broadway and family shows, popular music and comedy, select symphony, opera, and ballet performances and other local programming.
To be located on Block 70 in downtown Salt Lake City, the Utah Performing Arts Center (UPAC) is a partnership between the Redevelopment Agency of Salt Lake City, Salt Lake County and the theater operator, the County Center for the Arts.
The innovative financial solution for the project includes Redevelopment Agency-issued sales tax revenue bonds to be repaid by increments of TIF revenue dedicated by the City and the County, as well as $27 million in facility naming rights.
The development team, led by Garfield Traub Swisher, includes Layton Construction Company, the largest general builder in the intermountain west, and a design joint venture between Pelli Clarke Pelli Architects and HKS Architects.
The UPAC is projected to generate a one-time construction economic impact of $200 million and over 1,600 construction jobs, and an ongoing annual impact of $9.4 million and 115 permanent jobs.
“The RDA Board was particularly impressed with the Developer’s experience in Durham, NC. They had a unique track record in managing complex public/private partnerships with diverse stakeholders and interests at the table. I am confident Garfield Traub Swisher will serve the residents of Salt Lake City well.”
— Eric Jergensen, Chairman of the Board, Redevelopment Agency of Salt Lake City (“RDA”)