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Mall construction has screeched to a near-halt across the country,with stores such as Sears ( SHLD ) and Gap ( GPS ) shuttering hundreds of locations. But in Salt Lake City the futureof retail is bright: On March 22, a 700,000-square-footmega-mall will open in the city s heart. Construction was fundedby the Church of Jesus Christ of Latter-day Saints. City Creek Center is the nation s only regional mega-mallslated to open this year, according to the International Council ofShopping Centers, and more than 90 stores and restaurants aremoving in. One-third of the retailers are new to Salt Lake City,including Tiffany & Co. ( TIF ) and Coach ( COH ) . Nordstrom ( JWN ) and Macy s ( M ) are also on board. Designed by the Church s real estate arm, City Creek Center isreplete with a retractable sunroof, a man-made creek, and fountainsthat spew fire and water. Apart from elaborate design features, theredevelopment project estimated by the Mormon-run Desert News to have cost roughly $1 billion includes offices, condos,apartments, and 5,000 underground parking spots. The mixed-useproject is owned and run by mall operator Taubman Centers, whichhas a long-term lease and revenue-sharing agreement with the LDSChurch. Stores will be closed on Sundays. This kind of project isn t new to the Mormon Church ; the institution owns many commercial enterprises, includinghunting grounds, radio stations, newspapers, and insurancecompanies not to mention a $1 billion, for-profitcattle-and-citrus ranch in Florida and a Polynesian Cultural Centerin Hawaii. Its newest investment will sit directly across thestreet from the Church s monumental Temple and Tabernacle. Why the big investment in retail? These are the two major cityblocks that sit across from the headquarters of the Mormon Churchand they were poorly designed, says Bill Taubman, chief operatingofficer of Taubman Centers, who says City Creek has replaced twofailing fortress-like shopping centers. The Church decidedthat a major mixed-use project with retail as a centerpiece wouldbe the best way to rejuvenate and stabilize downtown. In some ways, the Mormon mega-mall investment isn t surprising.The religion s history with department stores dates back to 1868,when Brigham Young, the Church s second president, founded ZionsCooperative Mercantile Institution. ZCMI, sometimes referred to as America s First Department Store, sold to the May DepartmentStores Co. (now Macy s) in 1999. The 1,200-foot-long, man-made creek coursing through City CreekCenter harkens back to those early days. We recreated CityCreek, which Brigham Young would have seen when he came across theWasatch Mountains, says Taubman. We are high quality suppliers, our products such as Waterproof Silicone Watch Manufacturer , Lcd Wrist Watch for oversee buyer. To know more, please visits Silicone Ice Watch.
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