In November 1999, together as a community we incorporated the City of Holladay. In the financial feasibility analysis to operate our City, the Cottonwood mall site was considered a key source of revenue for our City and assist in its financial viability.
General Growth Properties (GGP) first announced plans to redevelop the mall in July of 2007. A month later, the Holladay City Council deemed the shopping mall blighted. GGP tore down the mall in mid-2008 as the beginning of redevelopment. Original redevelopment plans called for a Lifestyle Center to be built around the existing Macy's store. Redevelopment of the Cottonwood mall site halted in 2009 when GGP filed for bankruptcy.
Millrock Capital and Woodbury Corporation entered into a purchase agreement in 2019 with the Howard Hughes Corporation (existing owners) to redevelop the Cottonwood mall site based on the current vested entitlements granted to GGP in 2007.
Holladay Hills (new name for the Cottonwood mall site) is applying for approval under the 2007 Site Development Master Plan (SDMP) for the Subdivision Plat and Site Plan approvals per "Block" by block within the SDMP entitlements approved by the City of Holladay in 2007 and thereafter acknowledged, passed and approved per resolution No. 09-26 by the City Council on July 16th, 2009.
We anticipate the development will be completed within a range of five to ten years subject to market conditions. We are currently experiencing an overwhelming interest in all aspects of our Luxury mixed-use Lifestyle Center.