And the walls came tumbling down...
Nearly six years have passed since the idea of a Market Square development in the 2700 block of Sheridan Road was first shared with the City Council. But few may remember that the first concept was simply a towering condominium project with individual townhomes envisioned along Elim Avenue, an entirely residential design with an open courtyard for green space.
As time passed so did the marketplace and the needs of the city.
At one point the new fire station was considered for part of the design, but in the end the practical considerations of traffic and noise led the department to the former ESDA location at 28th and Caledonia. Then with the continued expansion of Cancer Treatment Centers of America and the occupancy in area hotels reaching capacity, it was suggested to the developers to incorporate a hotel element as part of the project so visitors to the hospital could remain downtown and within easy walking distance for treatment.
While the architecture and appropriate franchise were pursued, the nation felt the first rumblings of the current recession. By the time the project was completely designed, banks were no longer lending even to other banks. A new financing strategy would have to be put in place because more than 60 banks had passed since no lender wanted to take a risk on a hospitality project in such desperate times.
Finally a private partner was found, but bringing everyone's ideas together can be a daunting task even in good times. But dreams really can come true and this week saw the demolition of the former AutoZone building at the corner of 28th and Sheridan. Far too many months have passed in anticipation of construction getting underway, but we're finally there. Next week the site will be cleared and the new Best Western Inn and Suites at Market Square will begin to rise from the rubble. Offering 84-rooms, 20 of which are extended stay with complete kitchens, the project will include 7,500 square feet of retail space along Sheridan Road,
a restaurant, banquet facility and professional meeting space.
Expected delivery is spring 2011 with a final cost of nearly $13 million for Phase One. Plans are already in the works for Phase Two which will remodel the Shiloh Mall and create structured parking along with 52 condominiums and office space. Phase Three will extend the project eastward to Elim Avenue and currently includes plans for mixed use residential and office space.
It has been a long journey, but one in which we never lost faith Market Square would come to pass in spite
of overwhelming obstacles. Winston Churchill once wrote that, "Success is going from failure to failure without losing your enthusiasm." Whether those failures include war, romance, human shortcomings or a nation economic crisis, the truth is still found in his words today....keep believing and work harder. And Zion always does.