A new luxury hotel under construction for the Union Pacific building at Gateway

SALT LAKE CITY – Salt Lake City’s historic Union Pacific building will soon become the site of a luxury hotel in a bid to revitalize downtown Gateway, according to a report by Salt Lake Building.

This is part of a plan for Athens Group of “Autograph Hotels”, a luxury arm of Marriott, to build an eight-story hotel named Asher Adams, a name derived from the Asher & Adams Map of Utah Territory in 1873, one of the earliest available maps of the territory.

The developers got the mark in early 2020.

Funding for the hotel has been difficult due to the pandemic, but developers have been delayed by the Salt Lake Planning Commission to begin construction, which is slated for next year.

Obtaining the deadline was necessary to keep the project on track, as building permits were not withdrawn within a year as is normally required.

To move forward with funding, the Athens Group started crowdfunding for the redevelopment of the historic building into the 225-room hotel, and says he’s still on track to open the hotel in 2024, according to Salt Lake Building.

The project includes an eight-story building overlooking Gateway Legacy Plaza, four food and beverage outlets, 9,600 square feet of meeting space and 13 specialty suites located in the historic train station.

The Union Pacific building and the new eight-story hotel would be connected by above-ground walkways and a ground-floor courtyard between the buildings.

In recent weeks, the Athens group has been running social media ads urging Utah residents to invest in making the hotel’s conversion a reality.

“Be an investor in restoring a historic 1908 train station to a luxury Marriott Autograph hotel in Salt Lake City,” the ad reads. “This zone of opportunity, this adaptive reuse project gives investors the opportunity to invest qualified capital gains and to benefit from potentially significant tax advantages in return.”

Crowdstreet’s investment page says Salt Lake City is an “underserved luxury market segment,” touts the tax-advantaged status as an opportunity zone created by the Federal Tax Act of 2017, and cites a “sponsorship exceptional with a history of luxury hospitality “, according to Salt Lake City Building.

This project is part of the revitalization efforts underway by the new owners of the Gateway, who have added offices, new restaurants and bars to the complex.

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