The initial task of excavating 18,000 cubic yards of earth necessary to construct the foundation of the first new Deer Valley®-Empire Pass residential development in seven years has just been completed.
Described as the next generation of ski-in/ski-out residential lodges by developers East West Partners in conjunction with an affiliate of KSL Capital Partners, LLC (“KSL”), it will include 27 private condominium residences plus an assortment of family oriented, recreational and social amenities and services.
“We named it One Empire Pass because it’s in the number one, “crown jewel” location next to the Silver Strike chairlift. This site features unobstructed views toward the Daly Chutes and Lady Morgan Bowl as well as down valley to Park City,” said Harry Frampton, Chairman and Founder of East West Partners. “This is the culmination of 13 years of experience developing resort property in Park City which includes the Empire Pass communities Shooting Star, Larkspur, Arrowleaf and Flagstaff.”
“Innovation was the guiding light throughout the design process,’ says Managing Partner, Utah, Bill Fiveash. “Our ‘dream team’ of architects, designers, construction experts and resort managers avoided preconceived and predictable ideas in order to achieve something really unique. Both the public and the local Realtor community have really responded positively to how we gave the traditional mountain look a contemporary spin.”
Even after a seven-year development hiatus it was still very difficult to get One Empire Pass off the ground. “With most of the financial institutions super cautious after the recession, it wasn’t easy to find the considerable resources needed to fund the construction,” said Craig Ferraro, Managing Partner of East West Partners. “In order to get financing, we had to prove that there was a strong market for new resort property. After just a four- month sales effort and without moving a spec of dirt, we sold nine homes with non-refundable deposits averaging $388,000 each. Needless to say we got the financing.”
According to East West Partners V.P. of Design and Construction, Erik de Bruijn, One Empire Pass will receive a Leeds Silver Certification for its high level of energy efficiency. “Even though we have very large floor to ceiling windows, which we wanted to capture the panoramic mountain views, we were able to specify highly efficient thermal windows, “says de Bruijn. “These are above and beyond—in both efficiency and cost—what’s normally found in Park City.”
The construction schedule calls for the concrete superstructure to be completed by spring of 2017. Owners are expected to move in during the 2017-18 ski season.
Project architects are the IBI Group out of Salt Lake City led by Peter Pillman and Joe Geroux, AIA. Barclay Butera’s Park City studio is responsible for the interior designs and finishes. The general contractor is Jacobson Construction of Salt Lake City.
“Since we’re already 33% sold out without having a building to show, we’re on track to have all 27 residences spoken before the move-in date,” said Fiveash.
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