On Tuesday, Wasatch County approved the Mayflower Development. This approval allows the expansion of Deer Valley’s terrain and adding a whole new resort village along the Jordanelle side of the resort.
This is BIG news for the Park City ski industry and the Park City real estate market. Deer Valley Resort® will undergo a long-term redesign. Most notable will be the new completely separate base area called “Mayflower Mountain Resort” with 900 new acres of skiable terrain. The added zone, located to the east of the main base area and just below the current Mayflower lift, will include 6 lifts with 200 acres worth of groomed terrain. The other 700 will be off-piste skiing.
In terms of real estate, the report outlines that the Resort Village will have a five-star hotel and a four-star hotel as well as a conference center of 40,000 square feet. The Resort Village is also designed to have a ski beach, a promenade, an ice-skating rink or other features that will draw people. Overall zoning allows for 1,498 residential units, a mixture of houses, hotel rooms and condominiums; 410 hotel units, a military hotel, 50,000 square feet of commercial space, a 68,000 square foot recreation center, and 95,000 square feet of workforce-housing. single family homes, 919 condo hotel units, 1830 hotel rooms as well as commercial space and affordable housing units.
According to the Jordanelle Masterplan zoning of the remaining area still allows for a golf course, schools, a store and much more to be build if developer decides to do so.
The complete build out may be 3 decades away.
Deer Valley is owned by Alterra Mountain Co.. Alterra also owns 13 other prestigious mountain destinations. The Ikon Pass provides access to Alta/Snowbird, Solitude and Brighton, Steamboat, Squaw Valley, Jackson Hole, Big Sky, Big Bear and Mammoth as well as other resorts around the US, in Canada, Japan and Australia.
Contact The Park City Investor Team for more information at 435-640-6966. Learn about investment options around Jordanelle Reservoir.
