The center, off of Interstate-15, between Salt Lake City and Provo, is part of a four million-sf Traverse Mountain master-planned community. Already near the site is a 150,000-sf Cabela's outdoor superstore.

Traverse Mountain will have two department stores, a movie theater and about 400,000 sf of restaurant and small-shop space. Forest City is also trying to secure plans to build a community arts center at the site, similar to the one at Victoria Gardens. Other anchors at that 1.2-million-sf center include J.C. Penney, Macy's and Robinsons-May.

The stores will be geared toward the area household incomes of $82,000, Colm Macken, president of Forest City's Western Region, says. And more upper-income rooftops are likely to follow in the area, he says. "The attraction here is that most of the high-end housing is going into this area. It's just going to get better over time."