Park City Real Estate Trends

The Park City Heights development has started work.

 

What is the Park City Heights Development? It is a Master Planned Development near the corner of Highway 40 and State Road 248. The Quinn’s Junction area commonly referred to as the ‘back door’ into Park City, UT. The development when completed will cover 239 acres and have nearly 240 residences.

 

The location is just behind the much disputed film studio that was approved earlier this year. Unlike the film studio, this master planned development worked with the city and has met all of their guidelines regarding density, impacts, etc. Because there aren’t any neighborhoods nearby, the public was largely silent during discussions about the new neighborhood. I expect that there will be more of an uproar now that the construction process has started and as the impacts become more visible.

 

The original Master Plan was a collaboration between Park City and The Boyer Company (which is currently developing the Tech Center at the other entrance to Park City (Highway 80 and State Road 224). The construction of the development has since been transferred to Ivory Homes (one of Utah’s largest builders). Ivory homes is known for entry level home communities throughout the state, but has also recently added some higher end product in the Red Ledges Community in Heber City just south of Park City, UT. Over 70% of the development will be open space. The community will have a 3000’ community center/ club house as well as 15000’ of community garden space. Trails, both paved and dirt will run through the community and connect to other trails in Park City.

 

 

The Park City Heights community is slated for 160 market rate cottages and single family homes plus 28 deed restricted townhomes and 41 other deed restricted (affordable) units. Questions about the need or possible overbuilding of the deed restricted or workforce housing components of developments like this have been prevalent with the downturn in the economy. These 79 units will have the added benefit of being within the city limits.

 

Future residents in the area will have great access to the Quinn’s Junction recreational amenities (Park City’s Ice Arena, soccer and ball fields, the dog park as well as Round Valley Trails and the Rail Trail. The area will though add traffic to the already congested roads in front of the Tri-school area on SR248. This new construction will also have effects on real estate sales and values in the Prospector area as well as the new construction developments in the Jordanelle area (Black Rock Ridge, Parks Edge, and the Retreat at Jordanelle).

 

For more information about Park City Heights and its impacts on the Park City Real Estate Market contact a Park City Real Estate professional with YouInParkCity.com at (888)968-4672.