ValueRock Realty Partners to Develop Deer Cove Mixed-Use Property in Utah

by Katie Sloan

Deer Valley, Utah — ValueRock Realty Partners has obtained entitlements and approvals for the 87-acre Deer Cove Master Plan, one of the largest planned mixed-use communities in the Deer Valley/Park City region.

The development will be situated adjacent to U.S. 40, within walking distance of the Jordanelle Express Gondola at Deer Crest and Jordanelle recreational lake. ValueRock and its affiliates acquired the infill parcel in 2001. Since that time, the team has invested about $20 million in planning, engineering, infrastructure and water reservation fees to secure full entitlement approvals.

The project will eventually include more than 1,000 residential units, a hotel, retail and open space in a master-planned community. There are a number of adjacent developments planned for the area, including an 800- to 1,000-acre ski terrain expansion of Deer Valley Resort; development of a new on-mountain, four-star hotel at Pioche; a proposed on-mountain luxury hotel and residential development at Blue Ledge by Extell Development; and progression of Mayflower, another development that encompasses about 4,000 acres of land.

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