Park City Real Estate Trends

Summit Land Conservancy

By Todd Anderson
Nov 20, 2010

             How does Park City maintain the mountain feel and charm that drew many of us to make Park City home or consider buying Park City Real Estate? The Summit Land Conservancy is one of the organizations entrusted to making this happen. Land conservancy is no small task when you consider that the land preserved must serve many purposes including protecting the historic agricultural flavor, providing recreation, protecting wetland and animal habitat and maintaining the "Big Sky" views we all expect to wake up to every day. Summit Land Conservancy            Based in Park City, the Summit Land Conservancy's mission is to permanently preserve large parcels of land in Summit County, Utah. It does this in partnership with private land owners. The Conservancy holds conservation easements on over 2,300 acres in Summit County and continues to add easements that will create a "permanent legacy of open space for future generations".             McPolin Farm is the most recognizable property in the Conservancy's portfolio. The large white barn is hard to miss when you are driving in to town. It sits on 120 acres which is home to a wide variety of wildlife from birds on large game.  You will also notice hikers, cross country skiers, people walking dogs and nature tours. If you live in Aspen Springs Ranch or in Iron Canyon you are fortunate to have a view of this preserved land every day. With McPolin Farm the conservancy has preserved Park City history, a sense of entry to our community and has ensured present and future recreational use for locals and visitors alike.                 Empire Canyon is probably better known to visitors for its skiing and ski in/ski out homes and condos such as Flagstaff, Arrowleaf and the latest addition, the Montage. What many may not know is that there is a 1080 acre conservation easement in place that ensures areas like the Lady Morgan Springs marsh habitat will be protected as a breeding ground for Elk and other wild life. Alpine skiing, hiking, mountain biking, snow shoeing are other approved activities in this easement.             Round Valley is lesser known to visitors but is a prized by locals for its extensive trail system. With trail heads conveniently located in the Old Ranch Road and Park Meadows neighborhoods it is easily accessible. It is no wonder it is often called the "Central Park" of Park City. Winter or summer you will see people and wildlife taking full advantage of this open space for biking, skiing or just walking the dog. This area is currently 694 acres with more to be added soon.              One of my favorite additions will be Iron Mountain. Iron Mountain boarders the Colony  nestled inside the boundaries of the Canyons Ski Area. The 600 acres in the proposed easement will create 900 acres of open space protecting both wild life and the entry corridor into Park City. It will also provide habitat protection to moose, elk, deer, and many of Park City's wilder native residents.             Much more is currently in the works. By the end of 2010 or in early 2011 the Summit Land Conservancy plans to add another 2000 acres of perpetually protected open space. Click for more information on the Summit Land Conservancy. For more information on Park City and Park City Real Estate visit http://www.youinparkcity.com/.

Montage Deer Valley Construction Full Speed Ahead

By Todd Anderson
Apr 04, 2010

montage-deer-valley-park-city.jpg  Park City, UT:  Montage Resort Deer Valley construction goes on 24hrs per day.             Park City, Utah officials have given Montage Deer Valley Resort developers the OK to work 24 hours per day. This marks the first time in over 30 years that officials have allowed for such a construction schedule. The unique location of the Montage Deer Valley Resort allows for a schedule that should have minimal effect on nearby property owners and guests.             The Montage Deer Valley will sit at an elevation of over 8000' next to the Empire Canyon Lodge and Ruby and Empire Express ski lifts at Deer Valley Resort in Park City. The Deer Valley Ski Resort closes for the season on April 11, 2010 which will minimize the number of guests and owners staying in residences in the Empire Pass area of Park City.               The Montage Deer Valley recently celebrated its "topping off" marking a construction milestone with an evergreen tree placed atop the structure after the last beam was put in place. Over 900 workers are presently working within the wrapped scaffolding construction site. The ability to work 24 hours a day will help keep the resort on track for its anticipated opening in December of 2010. The resort will have 174 guest rooms, a 35,000 square foot spa facility, 15,000 square feet of convention space, multiple dining options including 24 hour in room dining services plus indoor and outdoor recreational spaces.             The Montage Deer Valley recently released its initial pricing for the 81 private residences with prices starting at just over $2 million and ranging up to nearly $8 million. Incentives are being offered to early buyers which include season ski passes at Deer Valley Resort, guided skiing privileges, Talisker Club access and stays at the Montage Beverly Hills or Montage Laguna Beach.             A model residence is complete and available for viewing by prospective buyers. For more info contact a YouInParkCity.com real estate professional.

Park City Failed Development

By Todd Anderson
Nov 11, 2009

             The Park Record reported Saturday that a portion of the Black Rock Ridge Development outside Park City, Utah has been sold to the Talisker Company and is slated to become employee/affordable housing.  Talisker owns the Canyons, Tuhaye, Empire Canyon and other properties in Summit and Wasatch Counties. Black Rock Ridge was slated to be a community of approximately 250 condominiums and townhomes ranging form 800 to 2000 square feet. The development offered its first completed models for sale in early 2008.             Black Rock Ridge was promoted as affordable mountain style townhomes and condominiums in Park City, Utah. The development offered new construction homes at prices just below $300 per square foot. The product appeared well received, but the timing was poor. Black Rock Ridge is technically in Wasatch County and not Park City. This may have had something to do with its poor sales too as Wasatch County is outside of the nationally ranked Park City School District.             Five unit sales in Black Rock Ridge were recorded across the Park City MLS. The remaining project was foreclosed upon by the bank this past spring. What will happen with the uncompleted common area amenities and future phases of the development is unknown. The Talisker Corporation purchased 26 of the unfinished units and has an agreement with Park City which will allow Talisker to use them (along with other concessions) to satisfy some of their employee and affordable housing components of the Empire Pass development. A Talisker representative was quoted as saying the company would sell the 9 townhomes at market value and the 17 condominiums when complete for $200K - $240K. The current owners at Black Rock Ridge will welcome some completion to the project, but are unhappy (to say the least) that the development will become "affordable housing" as the impact on their investment is decidedly negative.                         The location of Black Rock Ridge is less than 5 miles from the center of Park City making the area easily accessible. There are 2 other residential developments currently under construction in the area - Park's Edge and The Retreat at Jordanelle. There are also commercial development possibilities in the area which is home to Stock Building Supply. Presently the area is a bit of no-man's land and given the current economic state, it may be a while before this changes. The YouInParkCity.com group advises to carefully examine these and other unfinished Park City real estate developments before purchasing.

 
 
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