K. Semnani

A look inside the changes coming to historic Trolley Square

KUTV 2 | TROLLEY SQUARE | DECEMBER 23, 2014

VIDEO: A look inside the changes coming to historic Trolley Square

ARTICLE: by Holly Menino


(KUTV) Trolley Square's history dates back to 1847, when Brigham Young designated the area as the Tenth Ward. 

The area was later turned into fairgrounds and eventually used for a trolley car system.{ } Since then the iconic square has seen its fair share of ups and downs.{ } It recently faced bankruptcy, until a Utah man decided to turn it around.

Khosrow Semnani is a physicist by trade who made his money in nuclear waste management. He bought the bankrupt shopping center in 2013.

Originally, Semnani planned to buy the square and sell it for a profit, but a walk-through brought back old memories and a change of heart.
 
Semnani decided he would be the one to turn around the embattled shopping center.{ } Semnani is spending at least two million dollars on renovations. 

"Our plans, essentially, are to do everything possible to make this place come back alive again and be what people wanted it to be and they like it to be and that's what we're doing," explained Semnani.

A visitor's center and museum is already under construction. Crews are sprucing up the exteriors of the buildings and will add new lighting inside. Trolley's iconic water tower also got a facelift with new LED lights and plans to allow public access. 

Trolley Square is also adding a 15,000 square foot events center with six rentable spaces. All of this work is expected to be completed by June of 2015. You can also expect to see more new businesses and restaurants move in.

New owner wants Trolley Square to become a local place to be

New owner wants Trolley Square to become a local place to be

ABC 4 | TROLLEY SQUARE |

VIDEO: New owner wants Trolley Square to become a local place to be

ARTICLE: Jason Nguyen


SALT LAKE CITY, Utah (ABC 4 UTAH) - Trolley Square hasn’t been the same since a tragic 2007 mass shooting there. One local investor hopes that he can change that. 

Trolley Square has been around since 1908. 

In 2007, it became known across the nation. A man went on a shooting spree at the square, the economy sank and many of the shops had to close their doors. 

Now, 7 years later, the building is back on an upswing thanks to Khosrow Semnani. 

“I love this place. I know the risks are probably a lot higher than I would like them talking to you and from business stand point, but I don’t want to include that,” said Semnani. 

The self-made millionaire bought one of the most iconic symbols in Utah. 

“I don’t look at this place as simply a business venture. I look at it as something I like to do because it is part of my history in Salt Lake,” Semnani added. “We have to do some physical changes to the place in terms of repairs and upgrading and then we will be ready to go.”

The square will see a new L-E-D canopy. The fire place will become a water fountain. A grass area and concert venue will be added. Even the water tower will get a face lift.

“My vision of this place is really to get it back to what it was. A place for Salt Lake residents to go to,” Semnani said. “Big malls they have their own atmosphere. They are fine. They are beautiful places to go to. That’s fine, this is different.”

It will be different because it’s all local, and it is attracting local businesses like Alice Lane Home Collection

“The more that we as small business can look out for each other and support each other, high tide raises all ships, so if we can help each other and support each other everybody wins,” said manager Josh Bingham.

The Orem business invested in Trolley Square because of the location.

“We felt like it is a great fit for a mall that is making a turnaround and come back and to get in on the ground floor,” said Bingham

That's a recipe Semnani says will lead success.

“I think it is a community effort. It is not only my effort or Trolley’s effort; it is a community effort -- a neighborhood effort,” the owner added. 

Semnani says the neighborhood is ready to revive a vital part of the area. 

“They want to see this place renovated," he said. “They want to see this place revitalized, they see this as a center place an anchor place that can really help the whole neighborhood.”

Semnani also wants to add ease of access to Liberty Park by mass transit. 

“The market is here in my opinion. This is a unique market -- a family market. And it’s a very lively market with people who like being here,” says Semnani.

It’s a feat the business owner predicts will take 18 months to accomplish. Once finished, Semnani wants to move to phase two by putting in new apartments to make a complete package.

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.