Completion date not yet announced
Ceilly Sutton
Contractors working to complete the Founder’s Point development on Monday, October 7.
Five businesses have signed leases at Founder’s Point, a new commercial development near Wendy’s in Tooele City.
The businesses that have signed leases include Chipotle, Wing Stop, Chili’s, Hobby Lobby, Ulta Beauty, and Five Below, according to John Perez, Tooele City’s Economic Development Coordinator.
Other rumored, but not confirmed, businesses that may set up shop at the location include Ross Dress for Less, Sierra Trading Post, T.J. Maxx, Bath and Body Works, Petco, Chick-fil-A, and Dutch Bros.
The construction site at Founder’s Point.
There will also be a traffic light installed just north of Denny’s in the area, Perez said. It is unclear when the signal will be installed and working.
The Kimball Investment Company first broke ground on the Founder’s Point strip mall project in January 2023. It was first anticipated that the construction would be complete by late 2023 or early 2024, but a completion and opening date have yet to be set, Perez said.
When complete, the mall will sit on 33 acres and include eight retailers and a few restaurants.
Tooele City officials said that the development may bring in over $200,000 in sales tax annually and generate up to $315,000 in property tax.
The progress of a new building at the development on Monday, October 7.
Tooele City’s Redevelopment Agency bought the property for $5.2 million in 2015 from Gilad Development to assure the site remained a prime commercial and retail location.
In 2019, the Tooele City RDA sold the property to M-53 Associates for $4.2 million. The agreement called for M-53 to begin construction within two years of closing the sale, or they would have to pay Tooele City an additional $1 million.
Tooele City agreed twice to extend the date, and the second extension was needed because approximately 40,000 cubic yards of construction waste was found buried on the property during a geotechnical study.
Contractors work on the side of Main Street at the development on Monday.
Jared Steward, Tooele City’s former economic development director, said in early 2022, the Kimball Group, who own both the Kimball Investment Company and M-52 Associates, approached Tooele City about transferring the assignment of the development agreement to Tooele 1000, LLC, which lists both David and Victor Kimball as managers. The reason for transferring the project was never released.
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