What does Vail Coming to Park City do for Real Estate Values?

Original Writeup - December 11th, 2014: We have known that Vail would be heavily investing in The Canyons and Park City Mountain Resort for quite some time and we have seen condo and single-family homeowners hold firm on their asking price over the past twelve to eighteen months.  There have been stories that after the news of Vail’s $50 million investment owners increased their asking prices by 10% but that is not the norm in Park City.  Many property owners in Park City see this as a great opportunity for real estate appreciation but are worried about losing the small-town feel of Park City.  Park City has seen change and development growth over the past thirty, forty, and even fifty…

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Park City - Vail Resorts Inc. has proposed a plan to create the largest ski resort in North America by linking Park City Mountain Resort with The Canyons ski resort.  The new resort will go by the name Park City Mountain Resort and the planned upgrades will include an eight passenger high speed gondola that connects from the base of Silverload Lift at the Park City Mountain Resort to The Canyons Flatiron lift.  The plan for the King Con chairlift is to increase the capacity to a 6-person high speed lift which will provide for the ability to handle higher capacity and keep the lift line wait times reasonable.  The $50 million will also be used to  build a new Snow Hut Restaurant and upgrades to the Summit House Restaurant.  We are told that there will be a…

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