Once a small mining town, Park City, Utah, is now a world-class destination
by Greer Hitch
SNOW BETTER PLACE
When the first silver mine was discovered in a quiet little valley in the Wasatch Mountains, the miners and their families built small, wooden homes-sturdy in substance but sparing in expense or luxury. Little did these settlers know that their rustic homes would sell a century later for over half a million dollars. Talk about appreciation.
While Park City no longer profits from the mines from which it sprung, it has become one of the most popular and luxurious second-home destinations in the country. And while the rest of the country's real estate market cools, Park City continues to flourish, with second-home communities that offer buyers breathtaking views, world-class ski resorts and a charming, historic community that hasn't forgotten its humble roots.
"The market for the true second-home owner, the baby boomers who are buying homes in the $2.5 million-plus range, is doing really, really well," says Paul Benson, a broker with Prudential Utah Real Estate in Park City.
Recent sales in some of Park City's existing second-home developments support this claim. Tuhaye, a second-home community near Deer Valley Resort opened in August 2004 and has had outstanding sales this last year. Their finished homes have been selling for an average of $600 a square foot.
These successes, the abundance of open space, and the proximity to three amazing ski resorts continue to lure developers and home buyers alike. The popular Jordanelle Reservoir area just south of Park City seems to be a magnet for second-home communities-10 minutes from ski resorts, open space abounds and jaw-dropping water and mountain views.
Talisman, a 3,000-acre development adjacent to the reservoir, is one of Park City's newest and caters to families that patron the area for the waist-deep powder. Homesites start in the mid-$400,000s and top out in the mid-$700,000s. Talisman also offers finished cabins that range from 2,900 to 4,400 square feet and start at $1.3 million and reach upwards of $2.4 million.
Talisman's most unique characteristic is their onsite junior snowboard park, ski hills and three-person chairlift. With a 750-foot vertical drop, it is ideal for children. "Parents take their kids up to Deer Valley to ski, but the kids are wiped out after a few hours, and parents aren't done," says Tim Lewis, director of marketing. "We're trying to get around that dilemma by offering a place for parents to drop off their kids." Talisman kids can take ski and snowboard lessons or hang out in the kid's cabin ski lodge while their parents tackle some of the more challenging resorts in town. Talisman is 10 minutes from the Deer Valley gondola and 15 minutes from The Canyons or Park City Mountain Resort.
Just down the road, Hideout Canyon offers a number of different purchasing options for homebuyers. "The absolute best thing about Hideout Canyon is the view, the view and more of the view," says Rich Sprung, sales director. Homesites start in the $400,000s and reach upwards of $1.6 million. Their turnkey designer homes offer 5,000 square feet and start at $3 million. Plans for this development also include 60 cabins, townhomes and condominiums. Located close to the ski slopes, Hideout Canyon will also have a Signature Designed course by William Howard Neff.
Other impressive private developments include the Victory Ranch Club, which occupies 5,600 gorgeous acres along the Provo River, Promontory-The Ranch Club, and The Colony, which boasts ski-in, ski-out homes and homesites.
It doesn't matter whether you plan to purchase a home in Park City because of the top-ranked ski resorts, incredible views or historic character of downtown's Main Street. Your investment will not only satisfy your senses and cater to your interests, history indicates that your purchase will continue to appreciate. This small silver mining town has weathered through the years to offer its residents real-estate gold.
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SNOW BETTER PLACE Cont...
SKI
Park City is a mere 30 minutes from the Salt Lake City International Airport, making it an easily accessible destination. As you make your way into the heart of town, you'll get glimpses of The Canyons, Park City Mountain Resort, and the posh Deer Valley Resort - all of which cater to those seeking some of the best snow on earth.
The Canyons offers 3,700 skiable acres, ranging from beginner to expert runs. Park City Mountain Resort, a favorite of the locals, has a family-friendly environment, and award-winning Deer Valley offers its patrons not only outstanding terrain but also luxurious dining options, extravagant service and opulent accommodations.
STAY
After a long day on the mountain, head to a relaxing, lush room at Hotel Park City, www.hotelparkcity.com. This 100 all-suite hotel boasts fireplaces, private balconies, marble bathrooms, jetted tubs and unparalleled views.
For an authentic, ski lodge atmosphere, check out the Stein Eriksen Lodge. Each of the Stein's 175 rooms offers distinct luxury with private jetted tubs and soft terrycloth robes. Luxury suites boast gourmet kitchens, posh living rooms and gorgeous stone fireplaces.
DINE
Zoom, a Sundance-owned restaurant, provides a cozy environment and heartwarming meals like applewood grilled Black Angus New York steak with buttermilk mashed potatoes on a bourbon-shallot pan sauce. The Mariposa Restaurant located within the Deer Valley Resort, offers stunning mountain views, delicious cuisine and an extensive wine list that has received the Wine Spectator award of excellence numerous times.
If you're feeling adventurous, head down to Main Street and visit Wahso, an eclectic Asian Grill. Start with the Malaysian style pot stickers, move onto the wok seared rack of Colorado lamb and finish it off with the five spiced Asian pear tarte tatin.
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