East West Partners, in conjunction with an affiliate of KSL Capital Partners, LLC (“KSL”), announced today the next exciting phase of The Village at Empire Pass located directly adjacent to the Silver Strike chairlift on Deer Valley Resort in Park City, Utah. Construction is slated to begin next spring. “Our newest offering is the culmination of 12 years of experience developing resort property in Park City,” said Harry Frampton, Chairman and Founder of East West Partners. “The time is right to introduce the next generation of resort real estate incorporating all we have learned from our 30+ years of developing ski property.”
POSITIVE RESORT TRENDS
“There are so many positive trends occurring in the Park City area related to the advancement of this destination resort,” said Craig Ferraro, Managing Partner of East West Partners. “From the proposed connection of Canyons and Park City Mountain Resort, to the re-development of several buildings on Main Street, Park City is undergoing another renaissance. Building on Deer Valley Resort’s consistent ranking as the Top Ski Resort in North America by Ski Magazine readers, the entire area is becoming a world class year round hub of commerce, culture and outdoor entertainment.” Ferraro went on to explain that much of this is due to the unwavering dedication to quality that Deer Valley leadership has had since opening in 1980. “The difference today is that after 35 years of setting the bar in the ski industry for service and quality of experience on the mountain, the entire town has become a unified force in expanding that commitment to every aspect of our guests vacation and second home experience.”
Roots in ski country run deep for both East West Partners and KSL. Leadership from both organizations previously served as senior executives at Vail & Beaver Creek resorts in the 1980s & 1990s and have focused much of their efforts on the development of Colorado, California, and Utah based resorts since. Craig Ferraro pointed to these facts as he announced that Bill Fiveash will lead the local effort for East West in developing their 5th condominium building as Managing Partner Park City. “Bill has been part of our team for more than 20 years, working on projects for East West in Beaver Creek, Breckenridge, and Northstar at Tahoe. Most important, has been the last five years he has spent emerged in resort real estate right here in Park City.”
The new building, named One Empire Pass, includes 27 ski-in/out condominium residences built in a single structure directly adjacent to the bottom terminal of the Silver Strike Chair. At approximately 60,000 square feet of residential real estate it is expected to take 18 months to build from ground breaking in the Spring of 2016. East West has identified IBI Group led by Peter Pillman as the project architects and expects to have preliminary plans and specifications presented to the town for approval by this Fall. Pre-Sales are expected next ski season.