In Depth on the North Park Development
The following article was printed in the December 2009 newsletter. To view the entire newsletter, click here.
In Depth on the North Park, Home Depot, Target and More...Read On
Spanish Fork City is excited with the recent progress that’s been made in the construction of the new North Park. The City hopes this park will be a unique jewel that Spanish Fork residents will enjoy for many years to come. As people have observed the construction of the park, many questions have arisen about the extent of the work being performed. The following is a brief history of the North Park project and a status report on its progress.
After several years of planning and preparation, the North Park development received final approval in the summer of 2007. The main components of the project included the relocation and reconstruction of the North Park itself, the reconstruction of several intersections along 1000 North, the expansion of 1000 North and the construction of some 500,000 square feet of retail space.
Initial plans called for the demolition of the existing North Park so as to permit the construction of Home Depot and other retail businesses on that portion of the site. As the park was being demolished during the fall of 2007, dramatic changes in the businesses climate for retailers across the country became evident. In short, as sales for companies slowed at an extremely rapid rate, those companies put expansion plans on hold. The immediate effect we then experienced in Spanish Fork was the indefinite delay of
the construction of Home Depot and the delay of the developer’s ability to sign on other businesses. It was originally anticipated that the construction of retail space in the project was to commence in the winter of 2007.
Since that time, the economy has not yet rebounded and little has changed relative to plans that various retailers have to expand and build new stores in Utah or the United States. However, Spanish Fork City has taken the initiative to construct all the public infrastructure to position the City to have everything ready for when the economy does change and Retailers are ready to build their stores in our City. This public infrastructure includes the City streets; curb and gutter; water, sewer and electric lines; and storm drain system. Funds for the construction of these improvements came from the City’s utility reserves, anticipating that when stores do build in town, sales tax revenues will dramatically increase. The City anticipates making additional improvements to 1000 North, 600 East and 700 East, however these improvements will wait until the construction of retail buildings begin on the site and the improvements are needed in the area.
The City has also begun the re-construction of the North Park, anticipating that it will be complete and ready for use in the summer of 2010. The most visible element in the park today is the main pavilion which is nearly complete. You can also see the shaping of the plaza area as well as the construction of the water feature. In future months, other vertical improvements such as lighting, shade structures and playground equipment will be installed.
Aside from Home Depot, who purchased a lot in the development in 2007, Spanish Fork City is unaware of any commitments other retailers have made to build in the project. Target, Best Buy and other retailers have been approached as prospective tenants for the development but as of today, only Home Depot has committed to construct in the North Park project. We are, however, optimistic about the prospect of having construction begin on retail space in the near future.
This news article was originally posted on December 8, 2009