Creating downtowns Local developer brings retailers to small towns By DAVID TROESTER Standard-Examiner staff MARRIOTT-SLATERVILLE - A little-known, local development company is making its mark transforming fallow fields into commercial and retail centers. Cape Companies, 1280 S. 1200 West in Marriott-Slaterville, has built office and shopping centers in Top of Utah communities for the last decade. In recent years, the 16-employee company helped plan and build Clinton Towne Center, erecting a vast shopping hub in a city that had virtually no retail services. The company currently is working to build a similar center in West Point, bolstered by a Jubilee Foods store and scores of new homes. Moreover, Cape Companies in conjunction with Neil Wall Development of Layton is pursuing construction of a factory outlet mall along Interstate 15 in Marriott-Slaterville. Officials hope to open the mall in 2005, although ne- gotiations are still ongoing to acquire property for the complex. Observers credit Cape Companies with foresight. "It's really easy to buy a piece of property across from Wal-Mart or Costco," said West Point City Manager Rick Davis. "But when you're the first one in town, it takes a considerable more amount of thought and scru- Standard-Examiner tiny." He praises Cape Companies for taking the risk to build West Point's first retail and commercial center in a community, that, while growing, has no stores. "I give them probably 75 to 80 percent of the credit for having the vision to come out here," Davis said. Predominantly a sleepy agricultural town, West Point began to awake in the mid-1990s with wide-scale construction of new homes. In 1990, there were 36 single-family homes built in West Point, according to Construction Monitor. That number peaked at 138 in 1996. It has hovered between 40 and 60 new homes for each of the past three years. "If the number of permits do not have a certain percentage of increase over the past number of years, we certainly will not take the risk," said Charles Osman, Cape Companies CEO. Osman, 40, came to the United States from South Africa in 1983 and moved to Utah two years later. He started Cape Companies in 1992. It's named for Cape Town, South Africa, Osman's home town. The company had about $1 million in sales in its first year and $8 million in 2001. Osman expects sales to reach $15 million this year. "Our folks are out on the street, knocking on doors as opposed to waiting for the phone to ring," Osman said. The company has in-house designers and considers subcontractors an integral part of any project. Cape also relies on commercial Realtors. West Point Towne Center Source: Cape Companies "Right now, we have a very successful neighborhood," said Lynn Vinzant, Clinton City community development director. Cape Companies built Clinton Towne Center for Salt Lake City developer Smith Brubaker in the late 1990s on 40 acres at 1800 North and 2000 West in Clinton. The center features a 60,000-square-fobt Albert-sons, Blockbuster Video, Wendy's, Subway, Little Caesar's, All-A-Dollar, GNC, Great Clips and other stores. An 84-unit apartment complex was built behind the development as well as 76 single-family homes. A similar complex is planned for West Point Towne Center. A 31,000-square-foot Jubilee Foods is expected to open in April, as well as a retail plaza, restaurants, a gas station and offices. Construction of patio homes to the rear of the site already has begun and single-family homes are planned for the future. The entire project is valued at as much as $28 million. Once complete, the stores and offices will contribute about $250,000 in additional sales tax. The city currently collects about $450,000 a year in sales tax. In addition, Cape Companies recently completed a new $1.5 million municipal building for West Point adjacent to the development site. "The design concept was to basically create a downtown center in the middle of West Point," said Michael Hoth, Cape Companies public relations and marketing director. "We're kind of finding a niche with smaller towns." You can reach Business Editor David Troester at 625-4244 or dtroester@stan-dard.net. 54b