why me wrote:Drifting wrote:
So City Creek is a $5 billion attempt to 'revitalise' a small corner of downtown Salt Lake City "rather than to make money..."
Thank you 'why me' for reinforcing the point.
It was both. It was a good investment near the temple. And it provides the people a place to come together for a mutual activity.
CFR CFR CFR,
McMullin (Presiding Bishopric) has already stated that on the basis of investment the project didn't make financial sense.
McMullin explains that City Creek exists to combat urban blight, not to fill church coffers. “Will there be a return?” he asks rhetorically. “Yes, but so modest that you would never have made such an investment—the real return comes in folks moving back downtown and the revitalization of businesses.” Pausing briefly, he adds with deliberation, “It’s for furthering the aim of the church to make, if you will, bad men good, and good men better.”
(emphasis mine)
http://www.businessweek.com/articles/20 ... make-moneySo what do you know about City Creek's financial proposition that he doesn't????
Mind you, McMullin is slippery when it comes to facts and figures...
McMullin said the LDS Church has "two or three or four for-profit entities under the Presiding Bishopric," and names DMC, AgReserves and Suburban Land Reserve. He says DMC has about "2,000 to 3,000 employees." In late May, he confirmed the Hoover’s estimate that DMC has annual revenue of about $1.2 billion. A church spokesman later said McMullin retracted his estimate, saying that $1.2 billion is "vastly overstated." He didn’t offer a new estimate.
(emphasis mine)
http://www.sltrib.com/sltrib/news/54478 ... csp?page=2And can someone, anyone, explain how City Creek helps to "make bad men good, and good men better"?
As for providing a place for people to come together for 'mutual activity'.
You mean, spending money on upmarket non dress standards fashion items or coffee and alcohol, right? (As per the posters advertising City Creek).
As far as shopping outlets were concerned, they already existed but Hinckley didn't think it was upmarket enough.