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Deseret News - March 18, 2009
"Steel in place at Provo site"
PROVO - Old Glory fluttered in the breeze Tuesday as a crane hoisted the last of 11,000 tons of steel effortlessly into place.
On the other end of the beam, a United Steelworkers of America Local 27 banner shared the gentle wind, while a miniature evergreen tree balanced in the middle. The reverse side featured dozens of signatures of local dignitaries - including Provo Mayor Lewis Billings - and others who wanted their names preserved for posterity.
Then Zions Bank, PEG Development, Camco Construction, Inc. and Provo city officials celebrated the completion of the construction of the steel frame with a "topping out party" for the Zions Bank Financial Center in downtown Provo.
Ironworkers took eight weeks to complete the framework of the eight-story building at 172 N. University Ave.
"This phase of the construction went rapidly, with the installation of steel at a rate of up to 30 tons per day," said Helen Anderson, Provo spokeswoman. "The next phase of construction will take more time, with overall completion scheduled for the spring of 2010."
Once completed, the Zions Bank Financial Center will serve as the headquarters for the bank's central region, with its 28 Utah branches and combined deposits of over $1 billion. Roughly 65 Zions Bank employees will relocate into the building, which is part of the city's plan to revitalize its historic shopping and business district.
"It shows that Provo is committed to revitalizing downtown and that Zions is committed to Utah County," said Tom Morgan, regional manager.
The structure will also give Zions Bank its largest presence outside of Salt Lake City, Morgan said.
"It will give an opportunity for class-A office space... and lift the profile of the downtown area," said Utah County Commissioner Larry Ellertson.
Before construction began on the $25 million structure, work crews hauled 60,000 cubic yards of dirt out of the ground, said project manager Martin Christiansen.
Tax-increment financing will pay for the building's parking garage, meaning some of the increase in property taxes from developing the property will go toward the garage over the next 12 years. The financing makes development of the property possible, Anderson said.
The property-tax increase is expected to raise 40 times the money than the property was generating when it was a series of shops and stores.
Provo School District and Utah County will also receive some of the property tax once the building is completed. After the 12-year period passes, the school district, county and other local government entities - including Provo - will receive all of the property tax, Anderson said.
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Utah Business - April 8, 2008
"Bangerter Crossing Business Park Construction Underway"
LNR Property Corporation's Commercial Property Group has erected the first of their planned buildings in the ultimate 160-acre, 3.5 million-square-foot Bangerter Crossing Business Park in Salt Lake City. LNR's Commercial Property Group is the real estate development and investment division of LNR Property Corporation.
The first building will contain 244,300 square feet with a second 162,866 square foot building expected to be completed and ready for occupancy in May 2008 and August of 2008, respectively. A third building will soon follow, bringing an additional 300,000 square feet. Construction is scheduled to commence on the third building in the summer of 2008.
Throughout the project, LNR's Commercial Property Group will utilize more than 52,000 cubic yards of concrete on the building pads and roadways. The re-utilized apriport runway concrete will only be used for pad and roadway construction as an additive to the engineered soils, and will not be used for new wall construction. Once completed, the park will have used more than 110,000 cubic yards of conccrete, the same amount needed to build a four-foot sidewalk from Salt Lake City to San Francisco.
"In a team effort involving Camco Construction and Ninigret Construction Companies, we are very pleased we are able to utilize a portion of the airport concrete in our development, as it helps reduce landfill waste and will contribute to the long-term strength of our project," said David Baird, director of development for LNR Property Corporation's Commercial Property Group in Salt Lake City. "This project is located directly in the middle of the major distribution nodes along the Wasatch Front. We believe the project's design and location will prove to be very valuable in the eyes of our tenants and larger business community."
Bangerter Crossing Business Park offers highway visibility and is adjacent to freighting operations at Salt Lake City International Airport, the new Union Pacific Intermodal facility and Interstate Highways 15 and 80. Its location and amenities make it an ideal site for warehouse distribution building operations.
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Intermountain Contractor - December 4, 2007
"Camco Construction, Inc. recognized for Best of 2007 Private Project under $5 million for the Murray Park Medical Building"
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The Enterprise - December 10, 2007
"Ground broken for $200 million North SL project"
Salt Lake-based Compass Development Group broke ground last week on Eaglewood Village, a $200 million, 96-acre mixed use development located at the intersection of Highway 89 and Eagle Ridge Drive in North Salt Lake.
After almost two years of planning and contention, the project will turn the city's old gravel pit into a new southern gateway into North Salt Lake and Davis County.
"Just five minutes from downtown Salt Lake City, this is the perfect spot for someone who works in Salt Lake but prefers the elbow room of Davis County," said Ben Lowe a principal in Compass Development Group. "Eaglewood Village will include Davis County's largest Class A business park. Its proximity to downtown Salt Lake City and the airport makes it an ideal location for business. It's going to be a great place to live, work and play."
To be located at the intersection of I-15 and I-215, Eaglewood Village will sit on one of the last remaining parcels of land available for development along the I-15 corridor. The site is located at the base of the Eaglewood neighborhood and will be home to 570 residences, including townhomes, live/work condominiums and lofts across a variety of price points. The first units are expected to be ready in fall 2008. Despite gloomy reports about residential real estate, Compass is adding names to quickly growing interest lists. Those on the interest lists will have first priority when sales open in the spring.
In addition, more than 120,000 square feet of retail space will be built at Eaglewood, including shops, cafes and restaurants. Compass has signed a letter of intent with a 40,000 square foot grocer and is in negotiations with various shops and eateries. The retail is being leased by Rich Robbins and Steve Bowler at Coldwell Banker.
Eaglewood Corporate Center, the office portion of the village, will ultimately consist of 340,000 square feet of Class A office space. Compass has just started leasing the first 45,000 square foot building, which is expected to be ready for occupancy in early 2009. Office space is being leased by Brandon Fugal and Greg Gunn with Coldwell Banker.
Designed by VCBO Architects and being built by Camco Construction, Inc., Eaglewood Village also will feature common recreation areas for residents, including fountains, a stream, walking and jogging paths and a six-acre park at the top of Eagle Ridge Drive.
Compass Development Group was formed in 1986 by Steve Lowe and has since developed various residential and commercial properties in Utah, Colorado and California. Recently, Compass has focused its efforts on multi-family and mixed-use developments throughout the Wasatch Front.
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