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Show Alpine Real Estate Guide Page 14 Competitive From The Very First Day From Page 1 separate company to handle that phase of the project. But, althouth Royal Street will provide the utilities and overall planning plan-ning for the area, Mr. Huseth states many of the condominium projects will be developed and marketed by firms that will purchase the ground from Royal Street. "We do not intend to become the ultimate builder of many of these," he says, stressing that Royal Street will maintain architectural control over all projects. "We want every development to blend into the total project. We're looking for a natural-type look, if you will, where the beauty of the landscaping lan-dscaping is what you see, more than the buildings themselves." Royal Street will, however, be involved in-volved in the marketing of single-family single-family building lots and recently obtained ob-tained city council approval for the American Rag subdivision, a 93-lot planned unit development, located above and south of the bottom of Deer Valley. Lots in the project will go on sale early next year and Mr. Huseth says a decision on the price of the lots will be made within the next few weeks. In the meantime, Park City realtors who lately have had to contend with a lack of "inventory" at a time when demand is high, are looking forward with optimism and enthusiasm to the projects in Deer Valley. "It's very excitiing," says Vance McDonald of Capson, Morris and McComb, marketing agents for the Sunridge Townhouses, which will be located at the mouth of Deer Valley. Sunridge has received approval from the city and Mr. McDonald says ground will be broken this fall for the first 13 units of a planned 40-unil project on the northeast side of Deei Valley Road. Developed by Valley Development, Sunridge will consist of two and three bedroom units, 1,800 to 2,300 sq. ft. each, clustered in two to four units per building. According to the realtor, 46 potential poten-tial buyers already have paid $1,000 each for the right of first refusal to buy the units, which will be priced from $205,000 to $209,000. : . njgstaff Mountain - r Lakn FraT 4' X - f I Amer.cn Flag ft" ..." 4i , W -v , Dear Valley ''it, City Lflnd flrat Dhne lift future Httl tfevelopmtnl ereat . To Wasatch Front residents, that price might seem a little steep, but Mr. McDonald points out that compared with other ski areas, it's a good opportunity. oppor-tunity. "In the rest of the major Rocky Mountain resorts, a condo of that size will go for anywhere from $300,000 to in Apsen up to half a million." And with 46 buyers already committed, commit-ted, he doesn't forsee a lack of investors, in-vestors, even though the purchasers will have to come up with $45,000-$50,000 $45,000-$50,000 at closing. The reason for the interest, says Mr. Prospector Park Victorian Farmhouse $125,500.00 Luxury, charm, warmth. Whether you are looking for an investment property or beautifully appointed home, you must see this 2400 square foot, 3 month old home complete with country kitchen, oak floors, steeping tub, etc. 2369 Geronimo Court Prospector Park in Park City 649-8299 McDonald, is that potential investors are coming to see Deer Valley as "one of the most exclusive communities in the country.... certainly one of the most unique." "I think it will be a tremendous help for the entire community, diversifying the market and tending to make the quality of development, over-all, much higher." Mr. McDonald also says that even though the majority of those interested in the Sunridge project are from out of state, there is now a re-awakening of investor interest in Park City from along the Wasatch Front. '"In the last six months, a lot of private groups in Salt Lake have discovered they've got the hottest thing in the country sitting right under their noses," he concludes. Such optimism is also being exhibited by Mike Doilney, who, through Gump and Ayers, is involved with the marketing of another Deer Valley project. Fawngrove, an 80-unit condominium con-dominium project, located in Deer Valley itself, will be presented to the planning commission this winter, with an eye to beginning construction of the first 40 units next summer. The Developer will be Banberry Corporation, which will market the project through Gump and Ayers Real Estate Co. Although not actively seeking buyers at this point, Mr. Doilney notes the real estate company has put together a prospectus as a marketing tool to determine demand for the units, which will be priced in the neighborhood of $200, 000 . For $5,000, a figure designed to separate the serious from the. not-so-serious buyer, a potential investor can obtain a priority place on the list of those interested in purchasing the units when plat approval is received. Based on present demand for Park City real estate, which has continued strong despite double-digit interest rates, Mr. Doilney has little doubt about project sales. "My opinion is that there will be 500 buyers for the first 40 units," he says, adding: "And that's without going to the ski shows or advertising in the New York Times." The reason, says Mr. Doilney, is that the Deer Valley area will sell itself. "You should go up to Lake Flat, it's so beautiful. Somebody walks out of Los Angeles and sees that and they'll immediately want to get involved in Park City." For Doilney, the bottom line is that Deer Valley will mean that park City will be in a position to meet the accelerating ac-celerating demand for Utah skiing. "Park City is a family resort and that's what Deer Valley is oriented toward. If Park City is going to continue con-tinue to provide that skiing, Deer Valley is coming on stream at the right time." 1 1 e. ay tX&HX".)" ')( ! j t rrypwr mmmm i m. . mni.mii nr m j. , 4,, s?-3-;- gras' -"I- - tf -sum mfifh L rV'- "r ' TMm " r I -- '-- -.-..A. M ,,.. , m I |