Mayflower Parcels Closing Escrow

Mayflower Parcels Closing Escrow

 

The Mayflower parcels on the east side of the Deer Valley Resort closed escrow on November 2nd. The seller is the Dutch investment group Stichting Mayflower Recreational Fonds (they have owned the property for many years), and the buyer is an affiliate of Extell Development. This update, and others yet to come, are designed to be informative as to what this transaction means to the Resort, and its guests and pass holders.

You may already be somewhat up to speed on this expansion based on what you’ve heard on KPCW, or read in the Park Record, but what you may not know is the enormity of the undertaking, as what is proposed is almost as large as Canyons Village (the Canyons master plan is ultimately projected at +/- 4.1M SF, and this new Deer Valley lakeside area could be as much as +/- 3.8M SF).  Additionally, between 3 and 5 new ski lifts are in the conceptual design process by SE Group and Deer ValleyÒ. As to timing, we understand they expect to have several of the new lifts running for the 2019 – 2020 ski season, and the first phases of the real estate development underway by then as well.

Our next blog will shed some light on Extell Development (the Buyer).

 

By | 2018-04-24T14:02:36+00:00 November 1st, 2017|Market Update, Mayflower|Comments Off on Mayflower Parcels Closing Escrow

About the Author:

Hi, I'm Mark Sletten, and I love Park City. I've been selling real estate in here since 1994 and have been involved in over 400 residential and commercial transactions. My preferred way of selling luxury residential and development property is to partner with experienced agents and discriminating buyers who are ready to capitalize on the opportunities Park City offers. Let’s use my extensive local market knowledge with your expertise and interests find you the perfect property.
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