City Creek Center Changes Downtown Salt Lake City

Some 50,000 people converged on downtown Salt Lake City today for the opening of the new City Creek Center retail mall. Some lined up as early as 1:30 am to be first in line for the 10 am opening.

The mall is the retail portion of a bigger downtown development project that is causing quite a stir. During the past several years, when most companies and municipalities were hunkering down trying to wait out the recession, a bold partnership was investing billions to rebuild downtown Salt Lake City.

The mall is across the street from Temple Square.

Here are some of the news headlines generated by the opening.

1. Thousands fill Utah’s City Creek Center for opening
2. Urban style on view at City Creek Center
3. City Creek Center opens amid fanfare and long lines

The development is the result of a partnership between the LDS Church, Salt Lake City and private businesses. It is being operated by Taubman Centers Inc. Taubman provided the news release below.

Taubman's City Creek Center Opens to Thousands, Many From Around the World

BLOOMFIELD HILLS, Mich., March 22, 2012 /PRNewswire via COMTEX/ -- Taubman Centers, Inc. TCO -1.22% today announced the opening of City Creek Center in Salt Lake City, Utah. Thousands of visitors from near and far attended the grand opening of the only regional shopping center to open in the United States this year. According to the International Council of Shopping Centers, City Creek Center is the first enclosed regional shopping center to open in the United States in six years.

City Creek Center is the retail component of City Creek, the 23-acre, mixed-use development on three blocks in the heart of downtown Salt Lake City.

Architects, civic leaders, businesses and journalists from around the world were among those who came to see, tour and shop the 700,000-square-foot shopping center. Designed to showcase Utah's natural beauty, the unique indoor/outdoor space features a retractable roof, a 140-foot skybridge over Main Street, a 1200-foot-long re-creation of the historic City Creek, two 18-foot waterfalls and three fountains from the creators of the famed Bellagio fountains in Las Vegas.

Nordstrom and Macy's anchor City Creek Center's world-class retail offerings. Of the 100 stores and restaurants, one-third are unique to the Salt Lake City market or the state, including Tiffany & Co., Michael Kors, Coach, Tumi and Brooks Brothers/Brooks Brothers Women.

"Of the 100 stores and restaurants, we are pleased to open with 92 retailers today, with three more opening later this year," said Robert S. Taubman, Chairman, President and CEO of Taubman Centers. "The commitment of these retailers is a confirmation of their belief in the rebirth of downtown Salt Lake City."

City Creek Center brings shoppers a variety of unique amenities, including a prehistoric-themed children's play area located in the Food Court, free wireless Internet access, a sidewalk snow-melt system, an outdoor fireplace and an airline flight monitor so travelers can check on their flights while they shop. The shopping center is also dog-friendly, as are many of its stores.

The LEED-certified shopping center integrates sustainable design with both historic structures and new buildings. City Creek was built on the site of two former shopping malls, and more than 70 percent of the material from the structures, formerly on its site, have been recycled or reused as part of an aggressive sustainability program.

City Creek Center is a 15-minute drive from the Salt Lake City International Airport, the center is located in the heart of downtown Salt Lake City, adjacent to historic Temple Square and just blocks from the intersection of Interstate 15 and Interstate 80. For information and updates, visit www.ShopCityCreekCenter.com .

Taubman Centers is a real estate investment trust engaged in the development, leasing and management of regional and super regional shopping centers. Taubman's 27 U.S. owned, leased and/or managed properties, the most productive in the publicly held U.S. regional mall industry, serve major markets from coast to coast. Taubman Centers is headquartered in Bloomfield Hills, Mich., and its Taubman Asia subsidiary is headquartered in Hong Kong. For more information about Taubman, visit www.taubman.com .

For ease of use, references in this press release to "Taubman Centers," "company," "Taubman" or an operating platform mean Taubman Centers, Inc. and/or one or more of a number of separate, affiliated entities. Business is actually conducted by an affiliated entity rather than Taubman Centers, Inc. itself or the named operating platform.

This press release may contain forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. These statements reflect management's current views with respect to future events and financial performance. The forward-looking statements included in this release are made as of the date hereof. Except as required by law, we assume no obligation to update these forward-looking statements, even if new information becomes available in the future. Actual results may differ materially from those expected because of various risks and uncertainties, including, but not limited to the global credit environment and the continuing impacts of the recent U.S. recession, other changes in general economic and real estate conditions, changes in the interest rate environment and the availability of financing, adverse changes in the retail industry and integration and other acquisition risks. Other risks and uncertainties are discussed in the company's filings with the Securities and Exchange Commission including its most recent Annual Report on Form 10-K.

SOURCE Taubman Centers, Inc.