Resort Center at PCMR braces for base area project
A Provo firm called PEG Companies intends to acquire the Park City Mountain Resort parking lots from Vail Resorts, the owner of PCMR, for a major development that will include a hotel, a spa, restaurant space, retailers and services for skiers.
That’s similar to some of what is already available at the Resort Center, the well-established PCMR base area that has served as the commercial core of the resort for decades.
Not all the property at the Resort Center is under the ownership of Vail Resorts, leaving third-party owners to monitor the moves by the Colorado-based firm as well as PEG Companies since there is the possibility the development of the parking lots will have ramifications for the other property owners at the base.
The third-party property owners and PCMR have for years had an important relationship. PCMR skiers and snowboarders provide the critical customer base to the businesses with space in property owned by the third parties while the Resort Center holdings offered the skiers and snowboarders the shopping, dining and entertainment that is expected at the base of a top-tier mountain resort like PCMR.
One of the third-party owners associations, a firm called Marsac Mill Manor & Silver Mill House Condominium Association, represents 30 condominiums and 20,000 square feet of commercial space at the Resort Center. The commercial holdings include the space leased by The Corner Store.
The vice president of the association, Jim Doilney, is a longtime figure in the Park City business community and has watched the growth of PCMR as well as the sale of the resort to Vail Resorts in 2014.
Doilney in an interview said it will be critical to the properties at the Resort Center that the development of the parking lots under PEG Companies does not change the pedestrian flow that currently moves through the Resort Center to and from the lifts.
“Traffic is everything if you’re in the retail business,” Doilney said, adding that the location of transit stops and the configuration and proximity of the parking will be important in a development. “Skier foot traffic needs to be preserved with the new plan.”
Doilney said he had not spoken to representatives of PEG Companies by early in the week. He said, though, people have “invested their lives” in growing business at the Resort Center over time.
PEG Companies plans to acquire 10 acres at PCMR. The former owner of PCMR, Powdr Corp., in the 1990s secured a substantial development approval for the base area that includes the land where the parking lots are now located. PEG Companies has not publicly outlined details of a development proposal. The firm anticipates submitting an application to City Hall by the early spring of 2020 and possibly sooner. A groundbreaking could occur one to two years after the application is filed, depending on the length of the Park City Planning Commission review.
The firms with interests at the Resort Center will likely closely monitor the talks at City Hall about a PEG Companies development proposal. There could be concern among the existing owners and businesses about the pedestrian flow, as outlined by Doilney, the parking blueprints and the layout of the commercial space. It is not clear what steps PEG Companies would take in response to any concerns that may be raised at the Resort Center.
A critic of a Park City workforce or otherwise affordable housing project in Old Town said he is considering an appeal of the Park City Planning Commission’s approval of the development.