In 1905 Samuel Newhouse acquired mining property in the San Francisco Mountains of Beaver County, where he spent $2,000,000 developing the mine, mill, and town of Newhouse. Perhaps the wealthiest of Utah's mining magnates, Newhouse owned four residences: a home at 175 East South Temple in Salt Lake City which he renovated as a colonial style mansion in about 1905; an estate on Long Island; a chateau outside Paris, France; and a mansion in London, England.
While his wife preferred living outside of Utah, Samuel Newhouse's choice was Salt Lake City. In 1907 he launched a significant building program in the city designed to shift the city's center from the Temple Square area south four blocks to Exchange Place between 300 and 400 South streets and between Main and State streets. In 1907 construction began on the city's first skyscrapers, the Boston and the Newhouse buildings. Just east of the two buildings, Newhouse donated land for construction of the Salt Lake Stock Exchange and Commercial Club buildings. Exchange Place was to be a little "Wall Street" with a grand hotel--the Newhouse Hotel--constructed between 1909 and 1915 across Main Street on the southwest corner of Main and 400 South. Newhouse also was instrumental in the development of the exclusive residential area of Federal Heights in the northeast section of Salt Lake City.