Park City Real Estate Trends

Summer 2014 sees a construction boom in Park City, UT.

Winter in Park City Utah is a tough time to build, that isn’t to say that there are not a lot of construction projects going on during the winter, they are just more prevalent during the summer months.

From the turn off highway 80 traveling into Park City the new construction can be seen. The Newpark Terrace townhomes above the parking garage at Newpark Town Center are taking shape; sixty percent of the sixty. The additional retail space at Redstone is done and the retail center is busier than ever. New exterior siding is being installed at the Fox Point at Redstone condominiums (this clears a long running lawsuit between the original builder and the HOA). Another small residential development is also working its way through the planning process.

Work continues at Canyons Resort with the golf course which is scheduled for play in summer 2015 as well as projects near the base of the Waldorf gondola.

Construction around town is evidenced mostly through home construction on some of the few remaining in-fill lots and the ever present road improvement projects.

The Old Town area is the site of multiple projects both commercial and residential. Commercial spaces with residential units on top are part of two lower Main St remodels. 820 Park Avenue is ten residential condominiums with great ski and town access all of which had reservations before the project was introduced to the public. Near the top of Main St in the old in the old Main St Mall will be The Parkite with fifteen contemporary luxury residences.

The Upper Deer Valley area has the Stein Eriksen Residences moving forward at full speed. This ski-in/ski-out development between the Silver Dollar and Last Chance ski runs was very well received over the winter and has many reservations already in place.

Heading east out of Park City (affectionately known as the back door to town) the Park City Film Studios are well under way with their large project which includes Film Studios capable of film and television production, sound studios, Film School, Event Center and Studio Village.

Just south of the Film Studio is the Park City Heights Development. The development covers nearly 250 acres and will contain 239 residences when complete. The builder Ivory Homes is one of Utah’s largest builders has a proven track record an ability to complete developments in a timely manner.

Further east on hwy 248, the developments at Park’s Edge and Black Rock Ridge are selling condominiums as fast as they can build them.

The Promontory Club area has over 50 homes in some state of construction (most all of these are custom homes and not spec builds).

To further explore purchasing new construction homes or condominiums in Park City or to discuss how the addition of these developments may affect your current home or condominium’s value, contact a local Park City real estate professional. Email us or call (888)968-4672.