New owner of Trolley Square working to revitalize shopping center

New owner of Trolley Square working to revitalize shopping center

FOX 13 | TROLLEY SQUARE | APRIL 23, 2013

VIDEO: New owner of Trolley Square working to revitalize shopping center

ARTICLE: BY TAMARA VAIFANUA AND BRITTANY GREEN-MINER


POSTED 4:33 PM, APRIL 23, 2013, BY BRITTANY GREEN-MINER AND TAMARA VAIFANUA

SALT LAKE CITY - A new owner is taking over at Trolley Square and is working to return the shopping center to its former glory.

Trolley Square has endured years of financial ups and downs. A weak economy combined with the 2007 shooting that left five people dead turned many away.

Real estate developer Khosrow Semnani is the founder of one of Utah's biggest corporations, now known as EnergySolutions, and his newest venture is revitalizing Trolley Square.

His plan for Trolley Square includes a $1 million face lift designed to preserve the square's charm and luster.

But shoppers have plenty of other options when it comes to shopping, with the new City Creek Center and the Fashion Place Mall. Semnani says that instead of competing with those malls, Trolley Square will find its own niche.

"We're not going to compete with them. I think we're going to complement them by bringing the type of service or retailers both from Utah as well as out of state that really they don't go there for one reason or another," Semnani said.

But with the occupancy rate at only 50 percent, it could take some time for the shopping center to thrive again.