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Progress on Deer Valley's New Sister Resort

thetrailboss

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We've talked previously about this Project--Mayflower. It is located BELOW Bald Mountain at Deer Valley, and BELOW Sultan Express. It is in between U.S. 40 and Deer Valley Resort.

Apparently they are getting $250-260 million in bonds to "accelerate" construction. In other words, it sounds like they ran out of money. Apparently they have $170 million raised for other construction. So in total they have about $430 million invested or to be invested so far.

Of that, the money is being allocated as follows: "115 million to the moral welfare recreation conference hotel" and $53 million for other hotels.

The apparent total for this project is $3.2 billion. At least according to UN. Consider the source. That seems like an awful lot of money and really raises my antennae as to what is going on here. To put it in perspective, we just built the new SLC Airport for $4 billion.


The Park Record's Story (more credible):

 

thetrailboss

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One big reason for my suspicion.....

One of the hotels will include 100 rooms dedicated to military personnel, a “military welfare recreation” facility that is the reason for MIDA’s involvement. The block of rooms is the latest plan to replace a small ski lodge near Snowbasin Resort that the U.S. Air Force used before the 2002 Olympics.

The former Hill Haus chateau has morphed into a multi-billion dollar resort that Barnett claims will be the first of its kind built in 40 years.
 

FBGM

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They did run out of money. This whole junk show was put in pause during Covid and I’d assume that’s where funding or money was lost.

This project is trash. They even came out and said a while ago they don’t care about the skiing and it’s more for hotels and real estate. Which makes sense because the skiing will be horrible. And the last thing that Jordenelle area needs is more hosing. Wasatch county don’t give a fuck, build more homes. Keep them coming. Who cares about where the water comes from or the traffic. That entire Jordenelle area is a cluster fuck. Oh, and I’m sure they will have “affordable housing” options. Here’s your 2 bed condo for $499k. It’s well under market value so it’s “affordable”

I hope this project fails. Yes it will be a scar and cluster when sits empty and unfinished. But whatever. Fuck them.

Even on a good winter that base area will have 2 months of snow if that. Such horrible elevation and aspect.

Park City area might as well be Los Angles east. I usually flip the bird to anyone with a Cali plate these days.
 

thetrailboss

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They did run out of money. This whole junk show was put in pause during Covid and I’d assume that’s where funding or money was lost.

This project is trash. They even came out and said a while ago they don’t care about the skiing and it’s more for hotels and real estate. Which makes sense because the skiing will be horrible. And the last thing that Jordenelle area needs is more hosing. Wasatch county don’t give a fuck, build more homes. Keep them coming. Who cares about where the water comes from or the traffic. That entire Jordenelle area is a cluster fuck. Oh, and I’m sure they will have “affordable housing” options. Here’s your 2 bed condo for $499k. It’s well under market value so it’s “affordable”

I hope this project fails. Yes it will be a scar and cluster when sits empty and unfinished. But whatever. Fuck them.

Even on a good winter that base area will have 2 months of snow if that. Such horrible elevation and aspect.

Park City area might as well be Los Angles east. I usually flip the bird to anyone with a Cali plate these days.
Tell me how you really feel. :ROFLMAO:

And I realized that Jesus turned water into wine; LDS Jesus turned an old ski chalet into a $3.2 billion real estate boondoggle.
 

FBGM

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Tell me how you really feel. :ROFLMAO:

And I realized that Jesus turned water into wine; LDS Jesus turned an old ski chalet into a $3.2 billion real estate boondoggle.
LDS Jesus also said pray for rain? Obviously we are not praying enough….
 

FBGM

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So....are any of you in the market for a house or unit at this wonderful development?
If so, don’t plan on getting it or moving in for 2+ years at the earliest. But I’m sure you’ll have to pay upfront. Then more delays. Then the resort will go cheaper 11 maybe in 3-4 years. Then you are screwed. This place is a red flag
 

thetrailboss

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If so, don’t plan on getting it or moving in for 2+ years at the earliest. But I’m sure you’ll have to pay upfront. Then more delays. Then the resort will go cheaper 11 maybe in 3-4 years. Then you are screwed. This place is a red flag
What is Cheaper 11? ;)

It seems like a scam on multiple levels. How a run down ski chalet gets turned into a $3.2 billion development is very interesting. Obviously a lot of opportunists got involved here. And the fact that Deer Valley does not want anything to do with this is a major red flag.
 

FBGM

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What is Cheaper 11? ;)

It seems like a scam on multiple levels. How a run down ski chalet gets turned into a $3.2 billion development is very interesting. Obviously a lot of opportunists got involved here. And the fact that Deer Valley does not want anything to do with this is a major red flag.
At the rate we are going a wild fire might just take the place out before anything. Better get some lifts and equipment in first so the insurance check is higher.
 

JoeB-Z

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If we build it, they will come. What could go wrong? And they military is backing some of the bonds? Bond defaults are so ugly for those who thought their money was safe.
 

thetrailboss

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If we build it, they will come. What could go wrong? And they military is backing some of the bonds? Bond defaults are so ugly for those who thought their money was safe.
It's not the military that is backing the bonds. It is a "special service district" created about 20 years ago by the State. If you read the PCR article you quickly realize that the development itself is going to provide the security--assuming it gets built.

And as to "build it and they will come", well, maybe. PC is pretty built out already and DV is no longer the posh exclusive destination it once was. It is IKONized. IKON passholders ain't going to buy 7-figure homes in this development.

Also, as said, this terrain sucks for skiing. No snow and too low. The only thing going for it is being near Jordanelle Reservoir but that is getting overcrowded and water levels fluctuate so that beaches and boating are not too great (it is pretty low now).
 

mbedle

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I think an other issue is how is this place going to be tied into Dear Valley which is a skier only mountain. Snowboarders have no access to Dear Valley lifts??? I guess it might end up being the same as Snowbird and Alta. That leaves basically a 1,200 vertical mountain for snowboards, with skiers being able to access the Dear Valley upper terrain. Good luck with that...
 

jaytrem

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How much longer can that stupid snowboard ban last? Was hoping Ikon would get rid of it even though it has no effect on me.
 

thetrailboss

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I think an other issue is how is this place going to be tied into Dear Valley which is a skier only mountain. Snowboarders have no access to Dear Valley lifts??? I guess it might end up being the same as Snowbird and Alta. That leaves basically a 1,200 vertical mountain for snowboards, with skiers being able to access the Dear Valley upper terrain. Good luck with that...
Well, the larger issue is that Deer Valley STILL has not agreed to assume control of the ski area portion of this resort. I would think that this would have been one of the FIRST issues that would have been resolved because it is not sustainable on its own. Think about Spanish Peaks at Big Sky--NOT enough terrain to be its own resort and eventually bought by Boyne.

Now as to snowboarding, in my mind it seems inevitable. Alterra is doing all this happy crap about diversity and trying to be all PC. Well, having a skier only mountain at least arguably undercuts that message. And it seems like Alterra has been mainstreaming DV anyway. So I think that it will change.

That will push a lot of the bigger home owners and richer families to jump ship. A lot of them already have because it's NOT the same and it is too crowded. So guess where they are going? Hint: a former Deer Valley President is managing this new venture and at least one former DVR owner is behind this new upstart. Still don't get it? Well, it is getting two new lifts this year and some houses are starting to go up. It is here: https://wasatchpeaksranch.com/
 

FBGM

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Well, the larger issue is that Deer Valley STILL has not agreed to assume control of the ski area portion of this resort. I would think that this would have been one of the FIRST issues that would have been resolved because it is not sustainable on its own. Think about Spanish Peaks at Big Sky--NOT enough terrain to be its own resort and eventually bought by Boyne.

Now as to snowboarding, in my mind it seems inevitable. Alterra is doing all this happy crap about diversity and trying to be all PC. Well, having a skier only mountain at least arguably undercuts that message. And it seems like Alterra has been mainstreaming DV anyway. So I think that it will change.

That will push a lot of the bigger home owners and richer families to jump ship. A lot of them already have because it's NOT the same and it is too crowded. So guess where they are going? Hint: a former Deer Valley President is managing this new venture and at least one former DVR owner is behind this new upstart. Still don't get it? Well, it is getting two new lifts this year and some houses are starting to go up. It is here: https://wasatchpeaksranch.com/
You drive over by Morgan yet? Curious if construction is going. They are pretty tight lipped on what is actually happening. From what I’ve been told they are green lit and shot be going. Just haven’t ventured that direction in a while
 
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