SALT LAKE CITY-
A super-luxe influx of high-end resorts is springing up near Utah’s accessible ski slopes and otherworldly red rock spires.
The luxury accommodations are putting Park City ahead of Aspen and Sun Valley in resort real estate sales and will increase one southern Utah county’s assessed property values by 20 percent.
Stan Castleton, the developer of the St. Regis Resort and Residences at Deer Crest in Park City, said that the development of 26 large condominiums on the top four floors and 67 condo suites will be completed in late 2008. It will feature butler service, a high-end spa, and ski-in, ski-out access.
Prices for the St. Regis Deer Crest range from $1.5 million to $4.3 million for condo suites and $2.5 million to $8 million for the residences.
In recent years Park City, which is about 25 miles east of Salt Lake City, has surpassed other Western resort towns in the number of property units sold and exceeded the volume sold in dollars, but has remained sixth in average sales price, according to numbers from The Rocky Mountain Resort Alliance.
The alliance was founded about 10 years ago and tracks real estate sales in resort towns in Utah, Colorado, Wyoming, Idaho and British Columbia, said Betty Brown, board president for the Park City Board of Realtors.
In the first quarter of 2006, Park City had 743 units sold, higher than the 100 in Aspen, Colo., the 180 in Sun Valley, Idaho, and the 674 in Summit County, Colo., home to Breckenridge, Copper Mountain, Arapahoe Basin and Keystone resorts. But the average sales price is $731,772–lower than Telluride, Colo., Teton Village, Wyo., Vail, Colo., Sun Valley and Whistler, British Columbia.
