Costco will anchor renovated Valley Fair
The company redeveloping the mall, Satterfield Helm Management, plans to spend as much as $50 million on renovations. The company's owners, Scott Satterfield and Greg Helm, plan to unveil the mall's design to potential retailers from across the nation Sunday at the International Council of Shopping Centers in Las Vegas.
Brent Garlick, West Valley City's economic-development specialist, said a new Costco next to the mall will bolster retailers' attention.
"When you get a major new retailer, other retailers look at that and say, 'If Costco is there, we're going there too,' " he said.
The plan is to renovate the mall along the lines of The Gateway in downtown Salt Lake City, Satterfield said. The revamped Valley Fair Mall will include a park, a fountain and a community pavilion, in addition to several thousand more square feet of retail space than the current mall has.
Since the renovation was announced last fall, new business have already shown an interest in the area, said Holly Curby, the mall's marketing director. The mall's current anchors — Meier & Frank, JC Penney and Mervyn's — also intend to stay.
Costco wants to break ground in August and could open for shoppers as early as Christmas 2007 or early 2008. The retail chain now has seven stores in Utah, plus one under construction in Lehi. The West Valley store would be Costco's ninth in the state.
Garlick said Costco developers cooperated with the city to rework the construction plans to fit the neighborhood's needs. The developers agreed to set the 152,000 square-foot building 40 feet from the street and add a buffer to help protect the neighborhood from noise.
Satterfield said he expects Costco to draw thousands of people who "will shop and energize the mall." But Garlick said some local residents worry about an unwanted rise in traffic, especially along 3500 South, 3800 South and 2700 West.
Still, the city's plan will provide the area with a much-needed boost, Garlick said.
"The neighborhood benefits with the new school," he said. "The city benefits by having a Costco come in, and the mall benefits from having Costco as a retail tenant. It all just worked together."
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