REAL ESTATE

City Creek Center to open in March

BY Katherine Boccaccio

Salt Lake City — Bloomfield Hills, Mich.-based Taubman Co. said Tuesday that City Creek Center, a major shopping and dining destination, will open March 22 in Salt Lake City.

The 700,000-sq.-ft. regional attraction will feature Nordstrom, Macy’s and up to 80 stores and restaurants — one third that are new to the market. The center features a fully retractable skylight roof, a skybridge over Main Street and a host of water features.

City Creek Center is part of the 23-acre City Creek master plan developed by City Creek Reserve. The sustainably designed, walkable urban community of offices, residences and shops will be the centerpiece of downtown Salt Lake City.

Besides a sustainable design – the Center was built on the site of two former shopping malls and more than 80% of the material from the former malls has been recycled or reused – City Creek Center debuts the country’s first retractable skylight roof in a shopping center. The retractable roof can be opened during the warmer months, providing sunlight and airflow and reducing the demand for air conditioning. The roof also enables comfortable shopping during Utah’s winter months, shelter from inclement weather and year-round customer comfort.

A 140-ft. skybridge over Main Street connects the shopping center retail shops, and features an “Observation Deck” area at the center of the bridge. And heated walkways, which offer a snow-melt system within the outdoor surfaces, melt ice and snow on contact.

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Walmart’s Foran heads to China

BY CSA STAFF

HONG KONG — Walmart’s Greg Foran will be packing his bags and heading to China. The SVP for Walmart International has been named CEO of Walmart China, effective March 1, andwill relocate to China, pending work visa approval.

Foran joined Walmart in October 2011 following a long career with Woolworths’ where he worked his way up from stocking shelves to heading the company’s supermarket division. Other roles he had at Woolworths includedgeneral manager of Big W, the company’s discount department store division, and Dick Smith, which specializes in consumer electronics.

Foran studied at the New Zealand Institute of Management and then completed his executive management and advanced management studies at the University of Virginia and Harvard University respectively.
As Ceo of Walmart China, Foran will oversee 100,000 associates and over 370 store units.

“With his distinguished career in retail, Greg is uniquely qualified to lead our growing business in China,” said Scott Price, president and CEO of Walmart Asia and interim CEO for Walmart China. “I’m very pleased he is bringing his talents to help us continue Walmart’s expansion there and enhance our efforts to help Chinese customers save money so that they can live better.”

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CVS surprises nonprofits with millions in funding

BY CSA STAFF

WOONSOCKET, R.I. — Representatives of the CVS Caremark Charitable Trust, a private foundation created by CVS Caremark, kicked off a "Day of Giving" on Tuesday by surprising several nonprofits with the grant funding they had requested.

The visits, hosted by several of the company’s executives, were timed to coincide with the announcement that $4.3 million has been awarded in grants to 98 nonprofit organizations across the country in 2011, which includes multiyear grants from previous years.

The new grant recipients were chosen through the CVS Caremark Charitable Trust’s annual grant cycle, in which awards range from $10,000 to $50,000 for one-year support. These grants align with the CVS Caremark Charitable Trust’s efforts to improve the quality of health and well-being of underserved populations, and also align with CVS Caremark All Kids Can, a signature program of the CVS Caremark Charitable Trust and CVS Caremark that is committed to supporting children with disabilities.

"We are so excited to help these nonprofit organizations start 2012 in a positive way with much-needed funding," stated Eileen Howard Boone, VP of the CVS Caremark Charitable Trust. "All of the nonprofit organizations we support share our commitment to providing greater access to health care and medical services, and improving the lives of children with disabilities. The CVS Caremark Charitable Trust is honored to work with all of its nonprofit partners to help people on their path to better health."

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