It's that time of year again, and the numbers are in! The Deer Valley Report brings you the scoop on the real estate activity in Park City, UT. As with past Reports, it is broken down by area (Empire Pass, Upper Deer Valley, Deer Crest, and Lower Deer Valley). However, due to Deer Valley’s significant expansion plans at Mayflower, this year the report has expanded as well. Read all about it!
This year’s Sundance Film festival kicks off on January 18th for a 10-day run. Over 40,000 people are expected to attend and it’s a great opportunity to see independent films from around the world. This year, 110 feature-length films were selected for the festival. If you want to attend and have not already purchased tickets, we just checked the Festival’s website and ticket packages were still available. Check it out: https://www.sundance.org/blogs/news/2018-sundance-film-festival--feature-films-announced As a property owner, you have experienced and know that if you get out skiing during the Festival, you’ll have the slopes pretty much to yourself. Conversely, the restaurants will be packed, so if you are a chef at heart, [...]
Traffic & parking in and around Park City is already close to maximum capacity. So, it begs the question: how can the impacts from the development at Mayflower mitigate those two critical elements? First off, the Mayflower area will include as many as 800 parking spaces which will interconnect to the Village Core through a transit system styled after Mt. Tremblant in Canada. It will also have a real mitigation impact on traffic - both vehicular and skier. As to skier traffic, the new lifts out of Mayflower will go either up to Bald Mountain, or into the new terrain being created (by the way, most of this new terrain is north facing). [...]
Based on the preceding update, you may be asking “… who is Extell Development and do they have the capacity to pull this all together?” As a brief overview of their extensive portfolio, Extell has developed and/or owns 32 New York properties, including One 57 (New York City’s tallest residential tower), the Carlton House, and the Park Hyatt, among others. They also own and operate the iconic Four Seasons Vail. For additional details, you should take a moment and go to their website: https://extell.com/. And then to this link, which while written just over a year ago, gives an accurate 3rd party review of the Mafflower transaction: https://therealdeal.com/2016/05/24/gary-barnett-hits-the-slopes-hunts-for-a-new-market/.
The Mayflower parcels on the east side of the Deer Valley Resort closed escrow on November 2nd. The seller is the Dutch investment group Stichting Mayflower Recreational Fonds (they have owned the property for many years), and the buyer is an affiliate of Extell Development. This update, and others yet to come, are designed to be informative as to what this transaction means to the Resort, and its guests and pass holders. You may already be somewhat up to speed on this expansion based on what you’ve heard on KPCW, or read in the Park Record, but what you may not know is the enormity of the undertaking, as what is proposed [...]
The sale of Deer Valley just closed…. Now all we need is snow Just this week, it was announced the resort’s acquisition by a newly formed entity controlled by affiliates of KSL Capital Partners, LLC and Henry Crown and Company, has closed. So, Deer Valley is now part of a portfolio of 13 resorts, plus Canadian Mountain Holidays (a heli-ski operator). Its mountain resorts are in many of North America’s major ski regions: West - Squaw Valley/Alpine Meadows, Mammoth Mountain, Snow Summit, Bear Mountain, June Mountain, Deer Valley, Steamboat and Winter Park. East - Stratton Mountain, and Snowshoe Mountain Resort Canada - Blue Mountain and Mont Tremblant. In our next [...]
Great old picture of old town! This is looking north down Park Avenue. Note St. Mary's Catholic Church on the left hand side of the street!
Miners Hospital...this iconic building was located at the base of Park City Mountain Resort...where Shadow Ridge Hotel is now. It served Miners and their families locally so they didn't have to make the long trek to Salt Lake City facilities...It is now a community center. I am grateful this historic gem was preserved!
Park City is Engel & Volkers #1 Office for Sales Production and Volume! I work on a fabulous team of professionals.