Showing posts with label Extell Development Company. Show all posts
Showing posts with label Extell Development Company. Show all posts

Wednesday, August 30, 2023

“This is the new Deer Valley,” in Park City, Utah

 Deer Valley & Mayflower sign agreement to merge



Deer Valley Resort recently announced it has reached an agreement for an unprecedented expansion into a large tract of terrain adjacent to Deer Crest, known as Mayflower, a deal that is so significant that it will fundamentally alter what is already one of North America’s award winning mountain resorts.

Deer Valley who is now owned by Alterra Mountain Company and Extell Development Company, have negotiated a long-term operations agreement with the Mayflower Developer, that folds the terrain into Deer Valley, with the first lifts and trails expected to open as early as the 2025-2026 ski season. This negotiation will boost Deer Valley’s terrain by 3,700 acres, bringing the total combined acreage to 5,726. As of July 2023 Deer Valley had 2,026 acres on its own.

The number of runs will increase to 238. The number of lifts will jump to 37. Snowboarding will still be prohibited even in the new areas.

The new town center/ ski village and base area will be located off U.S. 40, with skier services, retailers, restaurants, and hotels. More than 1,200 parking spots are planned. Extell Development Company is continuing work at the location. “This is the new Deer Valley,”

The room was packed with representatives from the various parties involved in the agreement and community leaders, including Mayor Nann Worel. There appeared to be jubilation as speakers described what they see as the benefits of the expansion of Deer Valley into the Mayflower terrain.

The Mayflower area, which is located in Wasatch County, for decades has been seen as prime terrain for skiing, but there was little progress until recent years. There did not appear to be urgency while the land was under previous ownership and later, once there was mounting interest in resort development on the ground, the discussions were complex. The development itself benefitted with the involvement of the Military Installation Development Authority, a state economic development entity that is designed to advance projects with a military component. There is a hotel being built in Mayflower for the benefit of members of the military.

The land as recently as early in the summer was designed to be a standalone resort adjacent to Deer Valley, known as Mayflower Mountain Resort, with Extell Development Company and the Military Installation Development Authority partnering on the project. But there also had been indications Deer Valley would play some sort of role in Mayflower. Deer Valley in June said it was in negotiations with Extell Development Company about the operations of Mayflower, but it was not clear until Thursday’s announcement how broad the agreement would be.

Everyone hopes that the traffic into Park City will be reduced as a result of this agreement.

Jared Smith, who is the president and CEO of Deer Valley owner Alterra Mountain Company, said the resort will continue to limit the number of skiers on a daily basis in an effort to maintain the quality of the skiing experience. He did not, however, provide details about the number of additional skiers that will be allowed each day as a result of the new terrain at Mayflower.

It has been more than a decade, since the 2007-2008 ski season, until the most recent consequential increase in terrain at Deer Valley. The 2007-2008 expansion involved 200 acres in the Lady Morgan section of the resort. Other notable expansions at Deer Valley since the 1990s include the Empire Canyon and Deer Crest terrain.




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