Victory Ranch development progresses
January 23, 2015
When development and real estate firm Sterling Bay acquired the Victory Ranch luxury-home development from Wells Fargo Bank in 2012, its executives knew it wanted to change the plan.
Instead of packing about 700 homes into the 6,700-acre property, located on the Upper Provo River east of the Jordanelle Reservoir, stretching into both Summit and Wasatch counties, Sterling Bay wanted to offer buyers more space. The company halved the number of homes in the original plan to 350.
"Our concept is most folks who are wanting to join Victory Ranch are out there to have some space and enjoy the parcel," said Matt Menna, principal at Sterling Bay and managing director at Victory Ranch.
"It’s all about the land for us. We’re very different from other projects around the area in Park City. We have four and a half miles of the Upper Provo River going through our property. More than 4,000 acres are dedicated for recreational use for our members."
Victory Ranch will offer 200 homes that sit on property ranging from 1.5 to 160 acres, as well as 150 cabin-style homes. Planning the development took more than a year after Sterling Bay bought the property, but homes are now beginning to pop up. Currently, 14 homes and eight cabins have been constructed, and buyers are beginning to flock to the development, Menna said.
"We have 85 current owners, with many of them in submittal for architectural review," Menna said. "We’re seeing some fantastic homes being planned, and many will be starting in the spring."
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Though the project is still in its early stages — Menna said he expects it to take five to seven years to complete — the amenities offered to residents are beginning to take shape, as well. They include a private golf course, overnight camping areas, mountain biking and backcountry trails, fishing ponds and a swimming pool and fitness center expected to be completed by July 4.
Additionally, there are several luxury cabins available for rent.
"People can come and stay for the weekend, and buyers can come visit while their home is being built," Menna said.
The development also bought a private ski in/ski out lodge at the Town Lift on Main Street in Park City that was completed in time for the ski season. Menna said the reaction from members so far has been positive.
"Our folks can come and go and enjoy the upcoming Park City Mountain Resort and Canyons connection," Menna said.
For more information on the development, visit victoryranchutah.com.