2019-2020 Downtown Economic Benchmark Report

A comprehensive report produced by the Downtown Alliance and CBRE. 01 03 05 07 09 11 15 17 19 21 Transportation + Mobility Hospitality + Tourism Culture + Entertainment Workforce + Employment Retail + Restaurants Current + Future Development Parks + Public Spaces Downtown Office Market 2019-2020 at a Glance + Planning Initiatives How to use this report* table of CONTENTS Residential Real Estate The 2020 State of Downtown report offers a comprehensive analysis of downtown ’s economy to assist key stakeholders, such as property owners, investors, developers, retailers, brokers, policy makers and civic leaders as they make informed decisions. For the purposes of this report ’s boundaries are defined as the area between North Temple and 400 South, and I-15 and 300 East.

*THE 2020 ASTERISK This benchmark was published in December 2020 with content gathered earlier in the year. At the time of publishing, the impact of the COVID-19 pandemic is not yet fully known and is not fully accounted for in this report. We will reflect the impact and evolving trends in future benchmark publications. We hope that this benchmark is useful to you in making sound decisions. We welcome your feedback at [email protected].

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Contact Ryan Mack at [email protected] or visit downtownslc.org/building-downtown/reports-data. 2019-2020 at a Glance INDUSTRY SNAPSHOT

The largest employment sector in the Salt Lake City Central Business District (CBD) is the Professional, Scientific, and Technical Services sector, employing 11,341 workers. The next largest sectors are Accommodation and Food Services (7,988 workers), and Finance and Insurance (7,042). High location quotients (LQs) indicate sectors in which a region has high concentrations of employment compared to the national 45,685 $1.5 BILLION average. The sectors with the largest LQs in the CBD are Management of Companies and Enterprises (LQ = 2.82), Finance and 16.2M 5.5M Salt Lake Tourism Impact WORKERS RETAIL SQ. FT. Insurance (2.66), and Professional, Scientific, and Technical Services (2.51).

Professional, Scientific & Technical Management of Companies & 260 70.2% $3.4B 7.6% Services | 16.9% Enterprises | 4.2% underutilized acres HOTEL OCCUPANCY total wages paid Class A Vacancy Accommodation & Food Services | 11.9% Transportation & Warehousing | 4.1%

Finance & Insurance | 10.5% Arts, Entertainment & Recreation | 3.2% citywide 3,000 On-Street convention & Retail Trade | 7.9% Wholesale Trade | 2.4% $950.5M 30,000+ Public $7.62B 45,685 Public Administration | 7.2% Manufacturing | 2.3% downtown retail sales 424K delegates TOTAL DOWNTOWN PROPERTY VALUE parking spaces Total Workers in Downtown SLC by Administrative, Support, Waste Mgmt. & Real Estate, Rental & Leasing | 2.3% Renovation Services | 6.2% industry Information | 4.8% Educational Services | 2.1%

$287 MILLION $30.47per SQ. FT. 790,787 direct visitor spending $74,836 Other Services Except Public Utilities | 0.2% lease rate YR/FSG AVERAGE ANNUAL WAGE Hotel Room Nights Booked Administration | 4.8% Healthcare & Social Assistance | 4.7% Agriculture, Forestry, Fishing & Hunting | 0.1%

Construction | 4.2% Mining, Quarrying, Oil & Gas Extraction | 0.1%

Source: Produced by JobsEQ® for the Economic Development Corporation of Utah.

01 02 01 02 03 CURRENT Current & Future Current + Future Development Challenges Development CONSTRUCTION AND REAL THE WEST QUARTER + ESTATE COSTS 01 FUTURE DEVELOPMENT Construction and real estate costs are at an all-time high, driven in part by 02 LIBERTY SKY Utah’s robust economy and growing population. From 2010 to 2016, Utah 03 THE BEVERLY had the fastest population growth rate in the country and the highest 04 MYA & AVIA increase in nonagricultural jobs. 04 06 07 08 Investors’ caution globally has also 05 THE OLIVE constrained capital. However, Salt Lake City is better poised for rebound than 06 CONVENTION CENTER HOTEL many cities. 07 95 STATE 08 THE REVIVAL Opportunities 09 PAPERBOX LOFTS HEALTH INNOVATION SECTOR 10 THE BIRDIE Salt Lake City is home to the fastest- 05 09 growing life sciences community in 11 255 S. STATE STREET the nation with 538 bioscience-related patents last year. A robust ecosystem UNION PACIFIC HOTEL of health innovation companies has 12 emerged from the . Public and private investment is 13 KENSINGTON TOWER attracting life sciences and health IT companies to the Rio Grande District. 260 RESIDENTIAL DEMAND acres of underutilized lots (2020) The demand for downtown housing continues to exceed the supply due 10 11 12 13 to population growth and one of the 2,079 planned residential units projected to break ground in 2018-2019 strongest job markets in the nation. 3,600+ residential units completed or under construction (2018)

Source: Downtown Alliance.

03 04 DOWNTOWN OFFICE MARKET

Challenges $25.53/SF FSG 11.4% 274K SF 648K SF Downtown Office Market Asking Lease Rate Vacancy Rate Net Absorption* Under Construction SUBURBAN COMPETITION Office space can be built faster and cheaper in the suburbs than in the urban core. Downtown must leverage the benefits of transit, creative Comparative Rents 7 collaboration and amenities for Downtown SLC vs. Other Downtowns recruiting top talent. 4 Market Overview ECONOMIC UNCERTAINTY #1 Salt Lake City ($25.53) Economic uncertainty related to the In 2019, occupied office space in COVID-19 pandemic has softened #2 Phoenix ($26.19) downtown Salt Lake City grew by demand for office space across the 274,435 sq. ft. (measured by net absorption). Additionally, vacancy country. #3 Las Vegas ($29.64) decreased by 250 basis points over the 1 same period, from 13.9% to 11.4% in 2019. #4 Portland ($34.96) This positive growth is largely attributed Opportunities 5 to a large lease signed by WeWork for #5 Denver ($35.09) 8 flexible office space, in addition to a NEW INVENTORY strong undercurrent of diverse users 3 varying in size and industry background. Over 1 million sq. ft. of new and #6 Los Angeles ($45) adaptive-reuse Class A office space is 6 Bolstered by a resilient local economy under construction in and around the Seattle ($56.71) 2 and strong demographic base, demand CBD. #7 for office space in the downtown Salt #8 San Francisco ($80.40) Lake City market is expected to continue URBAN AMENITIES TO strong—despite global uncertainties. RECRUIT TALENT While large blocks of vacant space are Downtown office stock is currently limited, active construction surrounded by unique dining, in the downtown area (including the nightlife, transportation, and arts and Lease Activity by Industry 95 State Class A tower and Industry’s entertainment amenities that are not (top 50 new lease transactions since 2017) flexible-space complex) will service new available in suburban developments. or expanding office tenants seeking both quality and flexible urban space, along with strong amenities and ease of access. COMPARATIVE RENTS As of year-end 2019, there were 648,000 Salt Lake City lease rates compare sq. ft. of active construction in downtown favorably to other western cities in 38.1% 32.3% 1% 13.4% 15.1% Salt Lake City. our competitive set.

Misc. Business Technology Education Law & Finance Other

Source: CBRE Research, Q1 2020. *Net absorption spans 15-month period from 2017 through Q1 2020. Arrow indicates year-over-year trend, not negative growth. 05 06 WORKFORCE

Challenges Estimated Employment by Sector in Downtown Sector 2015 2016 2017 2018 2019 Workforce + Employment SKILLED WORKERS Utah needs more skilled workers— Office 33,711 35,438 36,067 36,686 38,227 across the state and in the Salt Lake

City CBD. Employment in downtown Restaurants 3,653 4,127 3,864 4,182 4,253 + EMPLOYMENT is projected to increase 1.3% over the Retail 3,146 3,070 2,642 2,569 2,132 next year, according to data from the Economic Development Corporation Hotel 1,222 1,270 1,317 1,172 1,048 of Utah (EDCUtah). We also need those workers to be educated. Average Manufacturing 300 299 236 154 147 annual job growth is 1.7% for jobs in the CBD that require a bachelor’s Miscellaneous* 1,059 1,110 940 923 970 degree. Jobs in the CBD that require a Total Employment 43,090 45,315 45,065 45,685 46,776 postgraduate degree are growing by 1.6%. Over the next year the fastest- Total Wages $2,812,009,446 $3,064,132,321 $3,156,214,207 $3,420,132,501 $3,633,614,561 48,462 degrees growing occupation group in the CBD is expected to be in healthcare support, Avg. Annual Wage $65,260 $67,618 $70,038 $74,836 $77,681 awarded in 2018- with a projected +2.3% year-over-year rate of growth. Source: Utah Department of Workforce Services. 2019 academic year* *Miscellaneous includes mining, construction, utilities, transportation and warehousing.

Opportunities Wages by Sector in Downtown (2019) 189,000 enrolled NATURAL INCREASE AND NET OFFICE MANUFACTURING MIGRATION OF WORKERS $87,106 38,227 $3.3B $53,087 147 $7.8M in public colleges The Kem C. Gardner Policy Institute Avg. Annual Wage Employment Total Wages Avg. Annual Wage Employment Total Wages estimates 59% of our population growth through 2028 will come (Fall 2019) from natural increase (births minus deaths) and 41% will come from net RESTAURANT HOTEL migration. Utah’s healthy economy $22,804 4,253 $96.9M $31,463 1,048 $32.9M is drawing workers to the state, as is Avg. Annual Wage Employment Total Wages Avg. Annual Wage Employment Total Wages its educational, healthcare and other Utah has the quality-of-life opportunities. Average annual wages per worker in the region student increased by 4.7% last year. RETAIL MISCELLANEOUS LOWEST $37,391 2,132 $79.7M $89,084 970 $86.4M Avg. Annual Wage Employment Total Wages Avg. Annual Wage Employment Total Wages debt in the country**

Source: Utah Department of Workforce Services. Source: Utah System of Higher Education. *(all degrees) Utah System of Higher Education. **Wallethub.com. 07 08 RETAIL

Challenges Downtown Annual Share of County Retail Sales*

Zip Codes 84101 and 84111 +

Retail + Restaurants RESTAURANTS PANDEMIC DAMPENED TRAFFIC The COVID-19 pandemic has curtailed 8.0% 7.5% the daily flow of downtown’s typical 6.2% 6.1% $873,124,823

$807,096,300 6.0% 6.0% 6.0% $814,144,700 $811,623,300 $870,456,581 clientele—office workers, conventioneers 7.0% 5.8% $850,859,200 5.8%

$710,828,700 5.6% $865,388,010

5.4% $837,605,490 and cultural event patrons—and 6.0% $654,922,000 accentuated the value of downtown 4.7% $590,542,400 residents. 5.0% MISPERCEPTIONS ABOUT 4.0% Market Overview NIGHTLIFE Salt Lake’s visitor economy, while 3.0% Downtown is defined in part by its growing, is hindered by visitors’ historically strong retail and restaurant misperceptions about hospitality and 2.0% economy. Retail assets include two

specifically alcohol service. major retail centers—City Creek and The WORKFORCE 1.0% Gateway—and over one hundred other independent local and national operators Restaurant and retail operators tell us 0.0% that attracting and retaining employees lining downtown’s CBD and stretching is a challenge due to Utah’s low 2009 2010 2011 2012 2013 2014 20152016 2017 2018 2019 along transit arteries toward the airport, unemployment rate. the University of Utah and cities to the south. With 9.1% of retail shopping center space available for lease, retail leasing Eating & Drinking opportunities have increased from prior Opportunities years. Additional areas in and adjacent to $429.7M the CBD are currently under development. INVESTMENT IN RESTAURANT 2% AND RETAIL DEVELOPMENT 2 Downtown retailers’ and restaurateurs’ The Utah Restaurant Association Clothing & Shoe Sales customer base includes 240,000 daytime says downtown Salt Lake City has workers in the CBD, 2.8 million annual the sixth fastest-growing restaurant $163M 2019 Selected ticket holders to downtown cultural and

market in the nation. Robust residential 4 sporting events and 557,439 convention development, new office towers and Retail Sales 9 Department Store Sales % and meeting attendees that gather in

the completion of the convention % SLC annually. Downtown’s residential 1

center hotel will stoke a growing 1 by Category in population is growing. The county’s

customer base for CBD retailers $96M population growth is projected to average Downtown and restaurants. The confluence of 1.6% annually over the next five years.

transportation patterns, residential Other Retail Sales Downtown retail and restaurant operators

development and BioHive initiatives in are well-positioned to thrive.

%

8 the Rio Grande neighborhood make $193.1M 1 it an ideal location for a permanent farmers market. Pedestrianizing parts of Main Street for a public promenade Source: Utah State Tax Commission. and entertainment district will enhance *Includes sales of food and drink downtown’s appeal as a destination. 09 10 Median Two Bedroom Apartment Rents Salt Lake City vs. Other Metros (2019) RESIDENTIAL REAL ESTATE Market Overview Challenges 1. Salt Lake City $1,091 6. Seattle $1,680 Residential Real Estate $1,731 From 2014 to 2018, 75 apartment AVAILABILITY AND COST OF 2. Phoenix $1,100 7. Los Angeles $1,760 buildings—109 planned unit developments HOUSING Regional Average and 89 single-family dwellings—were built Utah’s housing crisis is America’s 3. Las Vegas $1,195 8.o San Dieg $2,050 within a two-mile radius of downtown below regional average housing crisis. Utah is struggling to Salt Lake City, adding more than $751.2 above regional average keep up with the demand for housing, 4. Portland $1,325 9. San Jose $2,670 million in market value to Salt Lake City’s despite the robust construction core, and more than 9.9 million square statewide of apartments, condos, 4. Denver $1,360 10. San Francisco $3,100 feet of residential space. However, there townhomes and single-family is still limited supply, high demand and dwellings. In the CBD, high demand Source: Apartmentlist.com, June 2019. housing affordability is still an issue, other and low vacancy rates are driving factors affecting affordability include up residential rent prices. Downtown housing and zoning policies, economic growth, transportation access and utility must continue to support initiatives Western Market Rent to Income Ratio Comparison (All Rentals) costs. Real wages have been stagnant. and policies that encourage residential development of all types. $7,000 70% Avg. Monthly Wages Avg. Monthly Rent % of Income to Rent From 2009 to 2016, real income in Salt $6,500 Lake City only grew at 0.31% per year 52% while rental rates grew approximately 50% Opportunities $6,000 60% 1.03% per year. Building or rehabilitating $5,500 housing for upper-income households or high or ultra-high net worth individuals CONSUMER INTEREST $5,000 $6,324 50% increases the number of housing units One in five Utah residents is interested

$5,705 relative to demand, but doesn’t resolve in living downtown according to a $4,500 the affordability problem. Downtown 2020 survey of Utahns. 34% $5,128 needs continued housing development $4,981 $4,000 $4,853 40% 31% in all income brackets to keep up with 30% INVESTMENT IN AFFORDABILITY $3,500 28% the rising demand. Financial, political Salt Lake City officials have spent $4,391 28% $4,361 and regulatory requirements create approximately $38 million on $3,000 30% constraints on development. Salt Lake affordable housing initiatives in the last City’s Redevelopment Agency has five years to encourage developers to $2,500 refocused much of its effort to assist

build low-income units. The initiatives $3,177 affordable housing growth at all income have led to the construction of more $2,000 20% levels. than 2,000 affordable units, cutting $1,500 $2,573 away at the 7,500-unit housing

gap in the city. City leaders are also $1,000 $1,917 10% seeking creative ways to preserve $1,577

or rehabilitate existing affordable $500 $1,448 $1,216 housing instead of just relying on new $1,214 $0 0% construction. Salt Lake City residential rental rates are relatively low among its SAN FRANCISCO LOS ANGELES SEATTLE DENVER PORTLAND SALT LAKE CITY PHOENIX competitive set of western U.S. cities. Sources: Apartmentlist.com and CBRE, Inc. Federal Reserve Bank of St. Louis.

11 12 RESIDENTIAL REAL ESTATE 14 Source: Downtown Alliance. Downtown Source: 22 est Quarter W 650 Main

8. 4. via Liberty Sky Mya & A

66

7. 3. 55 te Street te 44 95 Sta 255 S. Sta

2. 6. 11 33 Union P Convention Center Hotel

THE SALT LAKE CITY SKYLINE IS CHANGING LAKE CITY SKYLINE THE SALT 1. 5. acific Hotel 77 88 99+ UNITS Condo Apartments HOUSING LOW-INCOME 50+ UNITS Apartments DUPLEXES 20–49 UNITS PLANNED UNIT DEVELOPMENTS 5–9 UNITS 10–19 UNITS HOUSING 3–4 UNITS SINGLE-FAMILY SINGLE-FAMILY 20 0 Salt Lake County Assessor. Sources: 5 0 Salt Lake County Assessor. Sources: from 2014 to 2019 Within a 2-Mile Other Residential Construction Radius of the CBD Apartments and Condos Built from 2014 to 2019 Within a 2-Mile a 2-Mile to 2019 Within Built from 2014 and Condos Apartments of the CBD Radius 40 10 15 60 20 80 25 100 120 35 30

RESIDENTIAL REAL ESTATE 13 TRANSIT

Transportation + Mobility Challenges GROWTH AND ACCESSIBILITY + Growth in Utah and the capital city MOBILITY makes it increasingly challenging to get people where they want to go in a timely manner. Meanwhile, transit users are asking for greater accessibility and frequency of service. Fortunately, Utah stands out as a model of collaborative planning, and our city and state leaders understand Downtown Salt Lake City that making transportation investments that accommodate our Commuter Statistics (2019)* population growth and support our 2019 Metro Walkscores capital city will bolster our economy 19% and our quality of life. of residents commute by bike or walk 4% 84 91 95 84 of residents work from home Opportunities Downtown Downtown Downtown Downtown Salt Lake City Denver Portland Phoenix 66% TRANSPORTATION PLAN AND of commuters commute by car, truck or van INVESTMENT Salt Lake City’s population nearly Source: Walkscore.com. 10% doubles during the day as the of commuters use public transportation workforce commutes into downtown. Providing public transit circulation and 1% last-mile solutions for commuters is 2019 of commuters use motorcycles essential. Increasing FrontRunner and GREENBIKE DATA TRAX frequency and service hours will strengthen Wasatch Front economies. An economic analysis of Utah’s Salt Lake is ranked 16th among “Best transportation investment found that 47 600 8 SQ. MI. 927K Bicycling Cities.” every $1 invested in the state’s Unified BIKE STATIONS COMMUNITY BIKES SERVICE AREA VM* REDUCED Transportation Plan produced a $1.94 gain in gross domestic product. 841K lbs 8.5M 31% Salt Lake is ranked out of 73 CO2 AVOIDED CALORIES BURNED YEAR-OVER-YEAR MEMBERSHIP GROWTH 54th cities for transit-based affordability.

Source: GreenBIKE. Sources: Unitedstateszipcodes.org and Bicycling.com. *VM=vehicle miles. *84111 and 84101 zipcodes. 15 16 HOSPITALITY

2019 Convention and Hospitality Overview Hospitality + Tourism Challenges CANCELED CONVENTION AND MEETING BUSINESS DUE Direct141,500 and Indirect Hospitality 200,989Convention Room819K Nights Booked TO THE PANDEMIC Jobs Supported Statewide Attendees* in 2019 Downtown hospitality and tourism + interests were rocked by the COVID-19 TOURISM pandemic. Visit Salt Lake reports that $99 million in visitor spending was lost in 2020 when 65 large conventions, 225K 595K $187.1M Salt Lake City International meetings and athletic events were Room Nights Booked in 2019 Room Nights Booked in 2019 Total Spending by canceled. for 2019 for Future Years Convention Delegates** Airport Highlights (2019)

Opportunities 69.7%Average Hotel Average$144 Daily Room $235.5MRoom Revenue*** CONVENTION CENTER HOTEL Occupancy in 2019*** Rate in 2019*** ($587.6M for SL County) The completion of the 700-room Hyatt Regency convention center 26,208,104 hotel is a vital new asset for attracting SALT LAKE AIRPORT PASSENGERS more city-wide conventions which bring high-spend attendees to State-wide Visitor Statistics Currently wrapping up a $4 billion downtown Salt Lake City. More redevelopment program* citywide conventions also energize our downtown night-time economy, 4,392,698 $10.06B sustain hospitality jobs and foster new rd th economic development opportunities Total Skier Days (2019-2020) Total Visitor Spending (2019) 23 85 for Utah.

ELEVATED DESTINATION Busiest airport Busiest airport in 36.3% 21,000 jobs in the nation the world APPEAL With a robust economy, picturesque Of Utah Visitors Come From Created by Out-of-State setting, new airport and elevated Canada (2019) Athlete Spending ($1.068B) cultural and dining assets, Salt Lake 2nd 370 is a city in ascension with growing appeal for group meetings. Visit Salt Lake’s sales team is booking business 10,682,894 6.8M Most on-time Flights Daily for 2021 and beyond. Conventions and National Park Visitors National Monument, Historic airport in the U.S. meetings draw more than 300,000 Site & Recreation Area Visitors out-of-town attendees annually that generate nearly one million hotel room Sources: Kem C. Gardner Policy Institute, Ski Utah, UtahToursim.org, National Park Service, Visit Salt Lake, Smith Travel Research Analytics. Source: SLCairport.com, City of Salt Lake Airport Division. nights and visitor days annually. *Does not include 454,300 attendees to sporting events, quasi-consumer shows, or hotel/resort booked business. *The entire redevelopment is being funded by the airlines, savings, car rental **Does not include $143.4M spending at sporting events, quasi-consumer shows, or hotel/resort booked business. fees, airport revenue bonds, passenger facility charges. No local tax dollars 17 ***For the convention district. are being spent on the project. 18 CULTURE

2.8 MILLION VISITS AT DOWNTOWN VENUES IN 2019 Culture + Entertainment Challenges

COMPETITION WITH DIGITAL + ENTERTAINMENT ENTERTAINMENT More than 40 arts groups are creating and producing downtown. All of these groups are competing for audiences’ THE COMPLEX attention with in-home entertainment 1.3M SPORTS ARENA 150,475 LIVE MUSIC options. Downtown arts organizations need private and municipal support to amplify their messaging and Market Overview compete with well resourced in-home entertainment marketers. Creating “a downtown for all ages” is at the heart of Salt Lake City’s master plan, HOUSING FOR ARTISTS adopted in 2016. Downtown Salt Lake City Additionally, we are seeing artists CLARK PLANETARIUM THE LEONARDO 249,571 SCIENCE MUSEUM 128,403 SCIENCE MUSEUM is the urban center for commerce, arts and move their living and studio space entertainment in the Intermountain West. out of the CBD to less-expensive Among U.S. cities, Salt Lake City over- Wasatch Front neighborhoods. The indexes for working artists per thousand city benefits by having artists living, residents. It attracts millions of patrons working and animating downtown. to its museums, performing arts, music theaters, NBA sports arena and more.

THE ECCLES THEATER CAPITOL THEATRE Opportunities PERFORMING ARTS PERFORMING ARTS Last year patrons enjoyed 1,300 events at 339,449 131,311 Abravanel Hall, Capitol Theatre, George INVEST IN AN ARTS S. and Dolores Doré Eccles Theater and RENAISSANCE FOR the Rose Wagner Performing Arts Center. ECONOMIC DEVELOPMENT Meanwhile, 1.3 million ticket holders In order to recruit top talent, attended sporting and other events at companies are looking for work Vivint Smart Home Arena in 2019. The locations with rich cultural assets CBD is rich with diverse performance DISCOVERY GATEWAY ROSE WAGNER PERFORMING ARTS CENTER venues, murals, visual art, farmers markets, and a buoyant quality of life. Utah CHILDREN’S MUSEUM PERFORMING ARTS has a rich history and commitment 238,359 67,335 eclectic and multi-cultural dining and to performing arts. Zoo, Arts & Parks spontaneous experiences that invigorate (ZAP) funding has helped sustain a city. legacy organizations and grow new artistic voices. We can build on our Cultural Core foundation to elevate arts programming and promotion for the benefit of residents, visitors ABRAVANEL HALL UTAH MUSEUM OF CONTEMPORARY ART PERFORMING ARTS CONTEMPORARY ART MUSEUM and prospective employers. We 170,268 35,607 can diversify our cultural offerings Source: Downtown Alliance. Source: Salt Lake City Master Plan. to expand our appeal to broader audiences. 19 20 PARKS

Challenges 2019 PUBLIC SPACE EVENT SUMMARY +

Parks + Public Spaces PUBLIC SPACES INSUFFICIENT PUBLIC SPACE WASHINGTON DOWNTOWN special days annual Salt Lake City’s “Central Community” SQUARE 21 events 11activated 147K participants has just 2.8 acres of park space per 1,000 people. Similar size U.S. cities, on average, have 10.1 acres/1,000; Salt Lake City as a whole has 8.6 LIBRARY acres/1,000. Pioneer Park, Washington special days annual Square and Library Square must be SQUARE 16 events 23 activated 164K participants maximized for optimal public access, gatherings and events.

PIONEER special days annual PARK* 15events 29activated 11.5K participants Opportunities REIMAGINE CURRENT PUBLIC SPACES AND CREATE NEW GALLIVAN special days annual ONES PLAZA 359events 218activated 218K participants Program Main Street as a vibrant pedestrian promenade. Add more tree canopy to our downtown walkways and public spaces. Promote access to TEMPLE the foothill trailheads near the State special days annual Capitol and Memory Grove. Invest SQUARE 7,500events 365activated 5M participants in programming and infrastructure 2019 Events and Festivals improvements at Pioneer Park, Gallivan Plaza, Library Square and Washington Square. Explore how new THE 65 public spaces can be developed and special days annual festivals in Salt Lake City programmed in the Central Station GATEWAY 181events 202activated 240K participants district. 281+ days of events downtown OTHER special days annual 540,630 CITY EVENTS 283events 639activated 1.04M participants participants in downtown events

Sources: Salt Lake City Special Events Permitting, Downtown Alliance, Salt Lake County, The Church of Jesus Christ of Latter-day Saints, Salt Lake City Arts Council. Sources: Salt Lake City Special Events Permitting, Downtown Alliance. This does not include free expression permits or film permits. *Excludes Downtown Farmers Market. Gallivan Plaza, The Gateway. *This data only includes ticketed events and festivals. 21 22 Salt Lake City Rankings

st Pro Business State th Healthiest Cities 1 Pollina Corporate 5 WalletHub.com

ST Most Fiscally Fit City th Top 10 Mid-Sized 1 State Farm Insurance and BestPlaces 4 American Cities of the Future fDi Magazine

nd Best Place to Find a Job nd Category: Human 2 Verified Movers 2 Capital and Lifestyle

Most Romantic Cities for nd th Category: 2 Boomers 6 Connectivity Bestplaces.net

World’s Most Hipster rd th Category: Business 3 Cities 6 Friendliness MoveHub.com

23 RESEARCHED, WRITTEN AND COMPILED BY THE DOWNTOWN ALLIANCE WITH THE ASSISTANCE OF CBRE. Gaylen Webb, Community Development and Research Coordinator, Downtown Alliance Ryan Mack, Director of Marketing and Communication, Downtown Alliance Dee Brewer, Executive Director, Downtown Alliance Derek Deitsch, Downtown Development Manager, Downtown Alliance Joseph Farrel, Data Intelligence Manager, CBRE

GRAPHIC DESIGN Shanna Green, Marketing Specialist, CBRE

PHOTOGRAPHY CREDITS BW Productions Twig Media Lab David Newkirk

ACS 2016 Salt Lake City Public Services Architecture Belgique Salt Lake City Redevelopment Agency ArtTix Salt Lake City Special Permitting Building Salt Lake Salt Lake County Arts & Culture CBRE Salt Lake City International Airport Church of Jesus Christ of Latter-day Saints Salt Lake Chamber Ski Utah City Creek Reserve Inc. The BLOCKS Clark Planetarium The Boyer Company Clearwater Homes The Complex Cowboy Partners The Leonardo Discovery Gateway The Ritchie Group Downtown Alliance Timberlane Partners EDCUtah U.S. Census Bureau FORM Development University of Utah Gardiner Properties Urban Food Connections of Utah Giv Development US Census Bureau Greenbike SLC Utah Bureau of Economic and Business Research GSBS Consulting Utah Department of Workforce Services Kem C. Gardner Policy Institute Utah Museum of Contemporary Art National Park Service Utah Office of Tourism Patrinely Group Utah State Parks PEG Development Utah State Tax Commission Property Reserve Inc. Utah System of Higher Education Salt Development Salt Lake City Airport Value Penguin Inc. Salt Lake City Arts Council Visit Salt Lake Salt Lake City Corporation Vivint Smart Home Arena Salt Lake City Department of Economic Development Walkscore.com Salt Lake City Housing and Neighborhood Development Wright Development Group Salt Lake City Planning