We saw a story in the online magazine The Observer entitled, “Live Like It’s Always Sundance at This Chic New Park City Development.”
When we read the following line in the article, we took notice, “Those who happen to adore the locale not just for that celebrity-infested period in January might want to check out developer Columbus Pacific’s new Apex Residences Park City, a luxe mountain resort on ten acres in Canyons Village. But back to the Apex Residences, which will be comprised of 63 three- to five-bedroom homes. The residences will range in size from 2,080 square feet up to 3,800 square feet. The luxe collection of homes ranges from $1 to 3 million, with the option of overlook, plaza, or clubhouse level residences.”
Sixty three $1MM-$3MM residences? Wow.
We always knew that the Canyons were only 25%-30% built out but maybe we were so naive that we didn’t consider that the remaining 75% of the land would be filled with $2 million condos.
Of course, they have the development rights to build it. What we question is if they build it, will they come? Of course, they’ve already sold 23 of them, so maybe the answer is yes.
Perhaps the better question is, how many people are out there willing to spend $2 million on a second home in Park City? Perhaps more than we thought.With building like this, we better hope so.