on Monday, January 12th, 2015 at 6:17pm.
In our recent blog posts, we have discussed how St. George is growing and recovering from the economic recession. Better home prices and more qualified home buyers are good signs. News coming out of last week’s St. George city council meeting signals the potential for more growth as well.
New Plan at Mall Drive Bride
A plan was approved to develop commercial real estate around Mall Drive Bridge according to a recent article in The Spectrum.
“The St. George City Council approved a scaled-back request to change its general plan on Thursday to accommodate plans for commercial development along the south sides of the intersection of Mall Drive and 3000 East.” reported the Spectrum.
The original plan was to include 121 acres of land, but that was scaled-back to about 25 acres prior to approval.The current area is mainly residential and farmland owned by Property Reserve, Inc., whose parent organization is the Church of Jesus Christ of Latter-Day Saints.
The Mall Drive bridge was completed last September. The bridge helps alleviate some of the traffic along River Road and Washington Fields Drive. Since more traffic is coming through the area, the city is looking at adding more businesses along the road.
Benefits of Business
St. George continues to grow both in population and in business development. More businesses would mean more construction jobs in the area. The commercial development could grow and lead to approximately 30,000 crossings daily.
The area is mainly residential now. Residents were at the meetings last week to ask questions and express concern. St. George is a historic and beautiful area, and locals don’t want businesses to destroy the culture.
Luckily, the plan just allows businesses to be in the area, but doesn’t say what can be built. The city will have to review any businesses that want to move in, and residents can express their opinions as well.
There are inherent benefits of nearby businesses as well. Local residents may not need to travel as far to run errands. The mayor of St. George was happy about the proposal, according to the Spectrum, and thought it could improve convenience and safety.
Further business development can help improve residential property values in the area. For example, movie theaters, restaurants and coffee shops all help improve the residential property values around them. Beneficial amenities added to the community can be great for nearby real estate.
It will be awhile before the area sees significant commercial growth, but last week’s committee meeting signalled the beginning of a new era in the area.