The gateway re-imagined: a new owner promises to restore vibrancy to the drooping property.

• Author: Gochnaur, Natalie
• Position: Economic Insight

When my daughter got her driver's license, I remember asking her if she could find her way around town. She turned to me with a confident smile and said, "I know how to get to The Gateway."

Her answer spoke volumes. A 16-year-old, newly minted driver who lived in the suburbs of Salt Lake City knew the directions to a downtown shopping destination eight miles away. The Gateway was THE place to go, and she had found it.

A lot has changed in the intervening years. The Gateway today is a shadow of the gathering place it once was. Thankfully, Phoenix-based developer Vestar recently purchased the property and will invest $30 million to support an inspiring vision. I couldn't be more exited to welcome Vestar to town.

Vestar enters this market with impressive credentials. It operates 24 million square feet of property across 12 regional centers in nine Western states and has a proven record of success. It is 100 percent retail driven and specializes in open-air concepts. Its plans call for a three-year re-imagining of The Gateway that will make Salt Lake City more "hip, social and fun."

Let the transformation begin!

Rise and fall

In the late 1990s, retail in downtown Salt Lake City was in rapid decline. The construction cones from the rebuild of Interstate 15 deterred downtown travel; 1-15 was limited for a time to two lanes in each direction. TRAX light rail construction took longer than expected and gutted Main Street. Two dated fortress malls--Crossroads and ZCMI Center--were slowly dying. Utah's urban center was suffering.

The late Salt Lake City Mayor Deedee Corradini and The Boyer Company had a vision for a mixed-use development in Salt Lake City. They negotiated the removal of rail lines and the shortening of the viaducts entering the city. The Gateway was born on the acreage of this brownfield site. Retail activity in downtown Salt Lake City got a second life.

During The Gateway's glory years it was the place to be. Theaters, popular restaurants, one-of-a-kind retail, housing and large employment centers created a dynamic urban gathering place. It had a vibe. Its proximity to the Jazz arena, children's museum and planetarium made it even more attractive. The transportation connection via FrontRunner commuter rail, TRAX light rail, and major freeway interchanges could not be beat. The Gateway was vibrant, urban and fun. My family loved the place.

While many believe The Gateway's downfall was the development of the remarkable City Creek...