Developer acquires prime acreage bordering PCMR
Firm plans to pursue project close to site of Treasure land
February 3, 2017
A development firm in January acquired land on the border of Park City Mountain Resort that has long been seen as the eventual location of a significant residential project, a deal that provides more evidence of Park City's hot real estate market but one that has the potential to pull the group into the broader discussions about growth in the community.
A firm called CRH Partners, LLC purchased the approximately 18.5 acres from another business entity, known as Nastar, LLC. The seller or its principals held the land for decades. The parcel is immediately south of the Marriott MountainSide and borders the King's Crown ski run. The land is along Lowell Avenue.
CRH Partners, LLC involves longtime Park City restaurateur Hans Fuegi, prominent Park City developer Rory Murphy and another developer, Chuck Heath. The partnership declined to disclose the purchase price.
"It is adjacent to a ski run and right at the base of Park City Mountain." Fuegi said as he described the land's desirability.
He said the City Hall zoning in place at the site is favorable to development. The partnership has not crafted a development plan. Fuegi indicated a mix of high-end condominiums, townhomes and houses is under consideration. A project would also include work force or otherwise affordable housing, perhaps 12 units, he said. The developers want to use Lowell Avenue as the primary access to the project.
The overall unit count has not been finalized. Fuegi said the zoning allows for a "pretty dense development," but the partnership does not intend to seek an approval for the maximum amount the zoning would permit. He said the project will, perhaps, involve between 130,000 square feet and 140,000 square feet of development. It will not include a hotel, he said. Fuegi also said the partnership will not design a project that would be highly visible.
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"We want to be very sensitive to how much impact we have on the neighborhood as a whole," he said.
Fuegi said a map was created on the land during the silver-mining era decades ago that contemplated 295 lots. The proposal does not envision a project of that size, though, he said.
The firm wants to hold its first discussion with the Park City Planning Commission by early spring. An application would be filed afterward. Fuegi said an application timeline has not been determined. He said the partnership intends to meet with the neighborhood and nearby property owners prior to the filing of an application.
Fuegi said the timeline works well amid a strong economy and increasing skier numbers. He also said there is not a similar project at the Park City side of PCMR even as there are at the Canyons Village side of the resort and in Deer Valley.
It seems almost certain there will be pointed questions from the Planning Commission and people who live in the vicinity about topics like the traffic the project would be expected to generate and the designs.
There also could be critics who will consider the project in the context of an unrelated and much larger development proposal on the Treasure land, which is south of the CRH Partners, LLC acreage. The Treasure partnership is locked in a difficult discussion with the Planning Commission about a project involving upward of 1 million square feet.
The Treasure land is located off the Lowell Avenue-Empire Avenue switchback. It does not border the CRH Partners, LLC land, but the Treasure developers also see Lowell Avenue as a primary route to the site. The resistance to Treasure has spread across Park City, but the core opposition is centered on streets like Lowell Avenue and Empire Avenue. Critics of Treasure could see the CRH Partners, LLC project as further exacerbating the concerns about Treasure itself.