Luxury Ski Condo Project Lands $51M in Utah
This is the second phase of a Deer Valley Resort development.
A joint venture led by East West Partners has obtained $50.9 million in construction financing for The Helen, a 19-unit ski-resort luxury condominium project in Park City, Utah. The development will mark the second phase of Founders Place, a three-part project totaling 78 for-sale units in four buildings located on 30 acres. Institutional Property Advisors worked on securing the loan. According to the property’s website, most of the units at The Helen have already been sold.
The development team also includes general contractor Deer Hollow Development Holdings LLC, while Sparano + Mooney is providing architecture services.
The Helen will include one two-bedroom, 13 three-bedroom and two four-bedroom units, alongside three penthouses. Amenities at the slope-side property will feature floor-to-ceiling windows with views of the Deer Valley Resort, a steam fireplace in the living area, walk-in closets with select units sporting direct elevator access. Common-area amenities will include ski-in and ski-out locations, a ski lounge, a fitness center, shuttle services, golf simulators and saunas.
Located at 3267 Deer Hollow Road, the condominium development is at the base of the Mountaineer Express lift, while central Park City, Utah, is less than 3 miles away. Residents can access the Jordanelle Express Gondola, located less than 1 mile to the west.
Executive Managing Director Jordan Ray of IPA Capital Markets, alongside Director Jamie Matheny, Senior Managing Director Steven Buchwald and Analyst Rachel Krawiecki, secured the financing.
