Dear SkyRidge Owners,
On May 23rd, Developer held an open house as part of the recent Speaker Series covering the past, present, and future for the SkyRidge development. This e-mail is for the purpose of passing along the information shared at the Speaker Series to Owners who were not able to attend.
Though Developer’s principals started working on the SkyRidge development in earnest in 2014 and purchased the land in 2016, their involvement actually goes back to the early 1980’s, when one of the principals walked the land with the Dutch consortium that owned the property at the time. One of the key factors for the Developer’s purchase was the SkyRidge property being part of the Jordanelle Specially Planned Area (JSPA) that Wasatch County created almost 30 years ago. The County created the JSPA to provide for year-round lodging, retail, dining, entertainment, transit, and recreational uses in a world-class resort area.
Another key part of Developer’s vision was that SkyRidge would not be a private gated community. Instead, it would feature amenities which would not be operated by the SkyRidge HOA or require any subsidization by its Owners. That way, Owners would have access to resort amenities without the cost of a private club membership. This allowed SkyRidge HOA dues to be a fraction of the HOA dues in other private communities, with Owners only paying for amenities when they used them. The SkyRidge HOA will have dedicated space in the Clubhouse complex with exclusive Owner’s amenities such as a seasonal pool, fitness & yoga studios, and lounge area. SkyRidge Owners will also have preferred access to community amenities and special events.
In 2019, Extell’s plans became public for what was then called the Mayflower Mountain Resort covering 5,600 acres to be built across the highway from SkyRidge. This is now called Deer Valley East Village and the expanded terrain doubles the size of the Deer Valley Resort. At this same time, Developer approached Wasatch County officials about making some changes to the original SkyRidge Master Plan that had been approved in 2017. Several ideas were discussed, and County officials determined that expanding the Clubhouse complex and Equestrian Center along with converting 20 townhomes into condominium units within a high-end, boutique lodge aligned with the County’s overall vision for the JSPA.
In March 2021, the Master Plan Amendment approving changes to the Clubhouse, Equestrian Center, and the Lodge were unanimously approved by Wasatch County Council and vested as permitted uses of the land.
Construction of the Lodge is planned to commence this fall. The Lodge is very different from projects like Extell’s Grand Hyatt Hotel across the highway from SkyRidge. The Lodge will not be a large high-rise hotel, but rather a small mountain-modern lodge that goes down the property vs up like most hotels. The Lodge has a 90-foot setback from SkyRidge Drive. The Lodge’s arrival court is 30 feet below the road, which provides significant vertical separation. The Lodge’s 65 planned condominium units, which average 944 sq. ft. per unit, will be available for nightly rental as part of the Preferred Hotel and Resorts Luxury Collection. Preferred’s other notable hospitality properties include the Montage at Deer Valley and the Pendry at Canyons Village. The Lodge design will follow Wasatch County’s JSPA Design Handbook.
The Golf Course and Equestrian Center are also on track to be completed by year-end with full operations commencing in 2025. The Clubhouse is scheduled for completion in Q4-2025. The Lodge should be complete in or about Q4-2026. Attached are some recent pictures showing onsite construction. When completed, all four of these amenities will be seamlessly integrated and operate as theStelle Resort to provide year-round activities for the Greater Park City area.
Lastly, the Developer has recently entered into an agreement with Deer Valley Lodging to be a preferred property management company for short-term rentals in SkyRidge. Deer Valley Lodging also has programs for homeowners that are not renting their property, along with a full suite of concierge services for both ski and off-mountain activities. Deer Valley Lodging will be presenting at the next Speaker Series at the end of June covering all the exclusive benefits available to homeowners.
In closing, the residential real estate market in the area has witnessed significant price increases over the past four years and we believe that trend will continue with the Deer Valley East Village opening and the Winter Olympics coming in 2034. Additionally, the Developer will be investing $120 million over the next three years in the SkyRidge development to create a world-class resort community with year-round activities.
We are excited for the current and future SkyRidge Owners to be a part of this amazing place.
Sincerely,
SkyRidge Development