Marketplace: The Prospect connects local businesses
Kelly Pfaff and David James each had very different plans for the future, but a series of events led them to change their courses entirely.
One of the first major events was when the two met during a yoga class in Park City in August of 2016. The next was when a building became available to purchase in January of 2017. The rest of the pieces quickly fell into place for the two business partners as they launched The Prospect Executive Suites, private office spaces and work stations for rent.
Both frequently vacationed in Park City before opting to move here. Pfaff came from California four years ago after the death of her husband because she wanted a fresh start for her kids. James, who moved from Las Vegas, was staying in Park City to drop his son off at the University of Utah when he met Pfaff. A few months later, he packed up and settled in the mountain town.
James said that the two quickly realized that their goals aligned, so they decided to start a business together — they just were not sure exactly what kind. He had worked as a general contractor for 25 years, and Pfaff had experience flipping homes in California.
“Our passions and our experiences supported one another,” he said. “It just came together.”
Last spring, the two purchased the building at 2078 Prospector Ave. They juggled ideas for the type of business to start, such as developing affordable housing, but settled on offices.
As more people work remotely, James said, shared office spaces are gaining popularity. When he came to Park City, he was looking for an office himself but was not able to find one that suited him.
“I wanted to create my own office, a place I would like to be, and then share it with the community,” James said.
The Prospect has 11 office spaces — eight smaller ones and three large ones. There is a shared kitchen, sitting area and showers, which Pfaff said are for those who want to take a break to go skiing or biking and get back to work. The offices are available for rent by week, month or year.
James said that launching his first project in Park City is exciting because it will help him get to know the community and understand its needs so he can plan more retail projects. He and Pfaff are also eager to foster relationships among business owners by bringing in a diverse set of industries.
“It’s one big community, and we’d like this to feel like it is their home,” he said. “They have all of these other people that can support them and that they can go to and get answers.”
Pfaff said that she hopes that The Prospect can not only create a community within its walls, but also outside of the building. She hopes to host open speaking events in order to connect individuals. The business also partners with local galleries to showcase art and is considering participating in gallery strolls.
It plans to host its first event, the grand opening, on March 23 from 4 to 7 p.m.
Pfaff, who was a stay-at-home mom for most of her adult life, said that working through all of the logistics of starting a business and waiting for licenses to get approved has taken a lot of effort. The Prospect was originally supposed to open last August, but after the two changed their business model, it opened about six months later.
James said that they are glad to have the planning and construction phase behind them so they can see their business begin to flourish. They said they are excited to see, after all of their work, where the business takes them.
“There was a lot of due diligence, and then a little bit of luck,” he said. “You make the best decision you can at the time based on the information you have. We embraced it and we went for it.”
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