It’s time to say goodbye to Holladay’s ‘decade of dirt’ and create a vibrant mixed-use community with new housing, employment, shopping, dining and recreation choices. We need your help in making sure your friends and neighbors have the facts, so individuals do not feel pressured to sign something without the right information.

We are aware there is an effort to gather signatures for a referendum on the plan for redevelopment of the Cottonwood Mall. Ivory Homes and Woodbury Corporation want to do what’s best for Holladay. The unanimous approval of our plan from the City Council last month came with a shared sentiment of just how vital this redevelopment is to Holladay’s future prosperity. Our plans changed significantly as a result of the public process (including 21 public meetings), prompting many members of “Holladay Citizens for Responsible Development” to ultimately express their support for the revised proposal.

Signing the referendum puts progress at risk! After months of dialogue with Holladay residents, the proposed referendum puts progress at risk, undermines the compromise we reached and adds a great deal of uncertainty to our ability to move Holladay Quarter forward. The opposition does not have a viable plan to replace this one. They are just “against” it. There will always be a group of people who oppose change and growth. If we don’t move forward with the new plan, this site could sit vacant for another decade.

Here are the facts:

Tax increment: Opponents are making false claims about the amount and use of tax dollars. To be clear, these funds are not general tax dollars. These funds do not exist without the investment from Ivory Homes and Woodbury Corporation. The funds generated by this development will be used for infrastructure such as roads, sewer, sidewalks and only in the mixed-use portion of the project. No tax increment money will be spent on the residential side. All taxing entities including the school district have voted in favor of the tax increment agreement.

Density: Yes, there will be nearly 1,000 residential units on this site, which includes 200 single family homes, townhomes and condominiums. We are providing homes for people who want to live and raise their families in Holladay. These are the same people who will support the businesses in the community and surrounding areas.

More Retail: We would LOVE to have more retail than the minimums approved by the City Council! We’ve already had amazing interest from the market that is exceeding our expectations and are planning to build as much retail as the market will support. We are just being realistic in this new retail market, knowing another regional mall is not a sustainable option. The new Holladay Quarter will have:

  • – 8 Feature Restaurants
  • – 20-30 Retail Shops
  • – Premier Office Tenants

Economic Engine: The neighborhood will be an economic engine for Holladay bringing vibrancy to this vacant site that will boost local businesses, support hundreds of office and retail jobs and increase city revenues.

  • – 1,800 office and retail jobs.
  • – $562 Million in total economic impact from construction.
  • – Multi-year construction project will employ 1,600 people and add more than 1,400 nonconstruction jobs to the economy and create more than $79 Million in new retail sales.
  • – Thanks to this new neighborhood, Holladay’s annual tax revenues are projected in the next 20 years to be 26% higher.
  • – The “halo effect” of economic activity surrounding the neighborhood will add $32 million a year in new sales at retail businesses in other areas of the City.

We want Holladay to thrive. We live here, our families live here and we’re excited to continue to work with the community to make this a neighborhood Holladay can be proud of.