Sugar House Developer Says 'It's My Turn'

None by KCPW

Media Unfairly Painting Him Unsympathetic to Small Biz

(KCPW News) The Sugar House business district is experiencing another wave of redevelopment, which means small locally-owned businesses clustered at the intersection of 2100 South and 1100 East face expulsion as property owners and real estate investors take advantage of a hot economy. In the process, developer Craig Meacham says he's been unfairly portrayed by the media as someone out to make a buck at the expense of small businesses:

"I've tried to be very fair and equitable with these tenants; many of these tenants have been there for an extended period of time at a reduced rate," says Meacham. "I think that I've been more than fair with these tenants and if their business plan is going to work, they know by now. So I kind of feel that it's my turn, frankly."

Meacham has owned a stretch of buildings on the west side of 1100 East, south of 2100 South, for the last 15 years. He says he's seen business go through several up and down cycles, and now is the right time to redevelop his property:

"We anticipate taking down this property - which is very old, very dilapidated and frankly needs to come down - and we want to replace it with something much nicer. It would be an office complex and some condominiums, and retail on the ground floor."

Rents will be much higher, Meacham admits, meaning many current tenants won't be able to afford it. He still needs to finalize construction plans and go through the city permitting process, but Meacham says he hopes to begin demolishing property by summer or fall of this year. As a result, many merchants are getting eviction notices.

Email to a friendPosted in KCPW Newsroom. Copyright 2008 KCPW