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Salt Lake City, UT (2013)

Capitol Theater

Salt Lake County received NMTC financing for the historic renovation of the downtown Capitol Theatre.

Investment

  • NMTC Amount: $7,640,000
  • Total Project Cost: $7,640,000

IMPACT

  • 18 FTE jobs
  • 600 construction jobs
  • Rehabilitation of a vacant or under-utilized historic structure.
  • 75,000 sq. ft. of real estate

Investor

Project Description

Salt Lake County received NMTC financing for the historic renovation of the downtown Capitol Theatre. The restoration of the 75,000 sq. ft. theatre included an expanded lobby and increased circulation space. The theatre will also be refitted for ADA accessibility and new elevators for easier access. In addition, the NMTC project will finance the construction of an adjacent 51,000 sq. ft. dance studio for Ballet West. The new Jessie Eccles Quinney Center for Dance will increase current enrollment to 600 students and triple the number of Dance Acadamy scholarships provided to low-income students. The modernization and restoration of the treasured Capitol Theatre will allow the theatre to continue to serve as a center for the arts in downtown Salt Lake City for generations to come. NDC’s $8 million Qualified Equity Investment in the $29.7 million project was combined with financing from Morgan Stanley, resulting in the projected creation and/or retention of 600 construction jobs and 18 permanent jobs.

MAP

Address: 50 West 200 South, Salt Lake City, UT 84101

Census Tract: 49035114000

Other Utah Projects

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