Breaking News

Deer Valley development proposal seen as jeopardizing property values

Deer Valley development proposal seen as jeopardizing property values

Deer Valley Resort is in talks with the Park City Planning Commission about a major development at the Snow Park base area, shown in November. There have been concerns expressed that a project like the one under consideration could be detrimental to nearby property values.
Park Record file photo

People who live or own properties in the area around Snow Park enjoy easy access to Deer Valley Resort, the views and the proximity to the trail network, just some of the reasons real estate is attractive there.

But as Deer Valley continues discussions about a large development proposal at the Snow Park base, concerns have been expressed that a project like the one envisioned could hurt the value of nearby properties. Claims about deteriorating property values are occasionally made as Park City officials consider large developments, but the ones centered on the Snow Park proposal are especially noteworthy with real estate in Deer Valley having long been seen as some of the area’s most exclusive.

The Park City Planning Commission is considering the development proposal, and City Hall recently released a cache of correspondences sent to the panelists and others about the project. Only a small number of the correspondences mentioned concerns about the impact on property values, but the topic is an intriguing sidebar to the broader issues included in the input to City Hall like project-related traffic.

One of the correspondences, sent on March 10, came from the board of directors of the Nordic Village Homeowners Association, which represents properties on some of the streets close to Snow Park like Nansen Court. The correspondence, identifying Deer Valley owner Alterra Mountain Company, discusses some of the details of the plan, saying there is concern of increased traffic in the neighborhood.

“We are writing to express our considerable concern that Alterra Corporation’s proposed redevelopment of the existing Deer Valley resort parking lots will negatively impact our neighborhood, quality of life, and property values by exacerbating the already untenable traffic situation that occurs multiple times daily as guests drive to and from the resort,” the Nordic Village Homeowners Association leadership said in the correspondence.

In another correspondence, an owner of a unit in the Silver Baron Lodge, which is located just off the Snow Park lots, addressed several issues while outlining concerns regarding property values. Jim Whalen in the correspondence touched on traffic, the ability of emergency vehicles to respond to calls and parking.

He said “as an owner, I believe the value of my property will be impaired” based on the project’s concept for Deer Valley Drive East. Whalen also said he understands “the value to the area of a development of this nature and would support it, but for the aforementioned concerns.”

There are longstanding development rights attached to the Snow Park parking lots, but Deer Valley must secure another approval before the project could launch. The concept relies on the construction of large garages to replace the parking spots currently in the lots. A hotel, residences, retail space, dining locations and entertainment are included. The project would essentially remake the Snow Park base area.

The Planning Commission launched the discussions last summer. Topics like traffic, transportation and the overall design are expected to be crucial to the talks as they progress. The impact on surrounding property values, though, typically is not addressed during a Planning Commission review. It is unclear when the panel will be prepared for a vote.

Deer Valley in a prepared statement in a response to a Park Record inquiry said it cannot speculate about the impact of the project on nearby property values. The statement instead addressed what Deer Valley sees as the benefits of the proposal.

The statement: “The new Snow Park Village development will further raise industry standards by replacing 15 acres of surface parking lots with a modern, convenient, and world-class base area and arrival experience designed to accommodate and attract future generations of Deer Valley guests and community residents. The base area will include many state-of-the-art enhancements, including improved arrival and departure experiences, underground parking, chairlift reconfigurations, expanded skier services facilities, new and contemporary food and beverage outlets, and an integrated transportation and mobility hub with a 4,000-square-foot welcome center. All of which are designed to offer high-quality, year-round amenities and activations in the Snow Park base area, to meet Park City’s transit-first goal for reducing car trips, and to thoughtfully connect the new village with surrounding neighborhoods.”