It’s been just over three years since Vail signed the 50 year lease to run Canyons Ski Resort operations. We’re coming up on exactly two years since Vail bought Park City Mountain Resort. Both resorts now operate under the Park City Mountain nomenclature. Last year, we saw significant upgrades to the resort with the new Miner’s Camp mid-mountain restaurant and the Quicksilver Gondola connecting what was PCMR to what was Canyons.
If you were privy to Park City news in the early 2000’s, you’ll remember that the Canyons Golf Course was once just a pipe dream. It was something we were all told was in the works, but was always held up for one reason or another. But in 2015 under Vail’s direction, the course became a reality.
So What’s Next for Canyons?
Last week, an open house was held to discuss just that. Replay Resorts, the master developer of Canyons Village, showed a full house of attendees their master plan for the village. The 5 acres of new development will include:
- Parking garage
- Transit hub
- 200,000 square feet of retail/commercial
- New hotels
- New condo buildings
- Employee housing (300 units)
- Conference center
- Pedestrian connection
- Aquatic center
Replay Resorts’ full plan can be found at http://canyonsvillageplan.com. The next public meeting will be September 10th. The final plan will be proposed to the planning commission this Fall.
What does this mean for real estate at Canyons Village? There will be some excellent family and conference amenities attracting visitors to the area, which should boost nightly rentals. There is also approved zoning for additional condominium projects. Based on current new projects at Canyons Village, It is doubtful prices will start under the $900,000 range. There are still some affordable properties at Red Pine and Hidden Creek which are walking distance to the Canyons Cabriolet and some proposed amenities. As a rising tide raises all boats, it seems that these projects could be positioned to appreciate in the future.
Questions? I’d be happy to answer them for you. Contact me at any time.