Salt Lake City government and business leaders say the city is quickly becoming a destination for shopping, dining, bars and entertainment.
But the downtown's food and shopping scene is growing, too. It now holds more than 160 restaurants, bars and shops. There are also about 100 arts and entertainment productions held every month, the report states.
The report acknowledges that the downtown area's population is still on track to double by 2025, from about 5,000 to 10,000, as downtown becomes increasingly residential. Thursday's event honored the team who put together Brewer believes having so many new residential spaces either online or in the works is beneficial when considering the growth of the city's social economy.The Astra Tower luxury apartments building is under construction in Salt Lake City on May 30. It is one of several residential projects expected to be completed in Salt Lake City over the next few years.
Some developers are now looking to transform these spaces into residential areas. For example, the development company HinesBalancing constraints and opportunitiesThe report states that both residential and office rental rates are on the rise. The Council For Community and Economic Research gave Salt Lake City a cost of living index score of 108.3, which was significantly better than the scores for Los Angeles or Seattle among Western cities, but it's also 8.
There are also plenty of other growing pains. The ongoing work to replace gas lines and repair the roadway onis now creeping into downtown, causing all sorts of headaches for residents, visitors and business owners.
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