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Show The National Enterprise, April 6, 1977 Page six Bank will occupy Boyer development The Boyer Co. is a 21,000 square-foo- t, build-in- g $1 million office building at the southeast corner of North Temple and 3rd West. ' To be occupied by Citizens National Bank on the main floor, the building is expected to be complete by the end of July. Construction began this month. Equitable Life Insurance Co. is providing permanent financing; Citizens National Bank is providing interim financing. Zwick Construction Co. is the contract. Ron Molen is the architect. favored No-grow- th Continued from page one south, the Jordan River on the west and the Wasatch Mountains on the east. Sudden growth in the Little Cottonwood area has sentiprompted ments among residents living there. Theyre concerned that so many families with children moving into the are area overcrowding said. They Jones schools, want to limit residential building until the school system can handle the influx of students, he added. The planner noted he has received numerous requests for rezoning of residential sites to commercial designations to eliminate the This is a influx of people. reversal from what is genJones erally requested, Most residential said. property owners oppose commercial developments located adjacent to them, he added. According to Jones, internal and external forces pressured the short term land use plan into the upcoming public hearing. Developers and residents are basing their arguments on a plan which has not been anti-grow- th formally approved, he said. The director indicated the plans adoption is necessary to give legitimacy to discussions on the best land use. The district plan will give us necessary guidelines on how to handle a popuJones lation explosion, said. Prominent SL businessmen have agreed to fund project hotel would bring in about $2.3 million a year. Annual cash flow was estimated at $460,940. While presenting D & Ms plans, Wright told commissioners, We plan to urban complex, not a build a high-ris- e suburban development. He estimated the entire project would cost $25 million and would take a maximum of 60 months to build. He added it would be constructed on an incremental basis, speculating the proposed hotel would probably be among the first structures to be built. We have been building Trolley Square since 1969, and were still not finished, Wright said, "but thats the way we planned it; thats the way we wanted it. t, D & Ms plans call for a hotel plus 337,000 square feet of commercial, retail, restaurant and office space, and a parking structure. Wright, in response to a question from Commissioner Jennings Phillips, said an additional office tower could be added to existing plans if it was needed. Continued from page one Molen said. He added the developers saw a need for evening entertainment in Salt Lake City, and saw this development as the ideal location for entertainment and restaurant businesses. He pointed out the top level of the 0 complex could provide between rooms of hotel space, without convention A hotel with internal convention facilities. facilities is not in demand in Salt Lake right now, Molen said. Lignell told the commissioners Marriott Hotel had expressed a qualified interest in operating such a hotel, and that Travelers Insurance Co., Northwestern Mutual and Womens Federal Savings had expressed interest in financing the project. He distributed a financial statement among the commissioners offering $2.5 million for the land, and estimating the cost of buildings, improvements and financing The would reach over $15.5 million. statement projected office and retail space would rent for $6.50 a foot, and an operating 150-20- 145,000-square-foo- 290-roo- m Intecnal builds T wn to attract buyers. 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