Forest City Plans UT Center

LEHI, UT-Forest City Enterprises is planning a one million-sf open-air center here modeled after Victoria Gardens, a project the Cleveland-based REIT opened in Rancho Cucamonga, CA last year. Company executives say they expect the Terrace at Traverse Mountain to cost $180 million to build with ground breaking in early 2008 and an opening in the spring of 2009.

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.