Appeal of St. Regis Brand, High Demand for Hotel Residence Amenities, Lure of Deer Crest Club Membership Cited as Among Success Factors
PARK CITY, UTAH – The St. Regis Deer Valley announced the $37 million sellout of the first phase of The Residences at The St. Regis Deer Valley | Snow Park. The Residences is a 55,000 SF, five-story, luxury building ideally located at the base of Deer Valley Resort, steps from Snow Park Lodge and its world-famous Ski School, and with direct access to The St. Regis Deer Valley funicular that rises dramatically to the Resort’s main building.
This first phase of the completed Snow Park Residences features nine Residences ranging in size from approximately 2,000 SF to 4,300 SF, including a stunning four-bedroom duplex penthouse. Each Residence features fireplaces in each room, a large, heated balcony off the living room area, and a lock-off bedroom for optimal owner flexibility. Membership in the exclusive Deer Crest Club is included with each Residence. The Snow Park Residences include a media room, library, dedicated underground parking, and the Deer Crest Club at Snow Park member lounge.
Dining options abound for Residence owners as well as resort guests: A new upscale restaurant, created by local star Chef Matthew Harris, is planned to open in The Residences at The St. Regis Deer Valley | Snow Park later this year. The cozy and sophisticated Astor Bar is now open on the first level of The Residences, featuring the culinary menu of Wild Ember BBQ, designed by Chef Harris. The main Resort building teems with indoor and outdoor dining venues including RIME, the Resort’s signature restaurant, the Wine Vault, the St. Regis Bar, Brasserie 7452 and The Vintage Room which is located on the hotel’s Ski Beach.
“Phase I of The Snow Park Residences attracted buyers for many reasons, in particular the immense appeal of the St. Regis brand and assured access to the extraordinary amenities and services of The St. Regis Deer Valley resort,” said David Reis, CEO of Falcon Investors, LLC and managing partner of The St. Regis Deer Valley. Reis noted that the success of The Snow Park Residences builds on the $300 million sellout of the original private residences and hotel condominiums of The St. Regis Deer Valley.
Michael Zaccaro, COO of Falcon Investors, said that another factor of great appeal to buyers was that each Residence included a membership to the exclusive Deer Crest Club, a limited-membership ski and social club. He added, “Our buyers also really appreciated the option to buy either unfurnished, for maximum customization, or to buy fully equipped and furnished, allowing for immediate occupancy. Many of the owners also have elected to participate in The St. Regis Deer Valley rental program, either with their full units or the lock-off bedroom, another great benefit of a hotel residence.”
The second phase of The Snow Park Residences, currently planned for completion in 2024, will include 12 Residences in a new five-story property also convenient to the funicular that links to the main resort building. All new Residences in this second phase will boast spectacular views of Deer Valley Resort, membership in the Deer Crest Club, and all the amenities and services of The St. Regis Deer Valley.
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