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Promontory Leads Park City in a Summer of Record Home Sales

PARK CITY, UTAH EXPERIENCES ‘LAND RUSH’ AS COVID-19 PANDEMIC BRINGS A WAVE OF TRANSPLANTS FROM DENSE CITIES

Affluent families from urban areas seek a lockdown-free lifestyle with over 22% of record home sales occurring in the exclusive Promontory community

PARK CITY, UTAH – As the pandemic prompts dramatic changes for millions of Americans, Park City, Utah has become one of the leading choices for affluent families seeking to relocate from cities in hopes of making the best of anxious times with a lifestyle without lockdown. The mountain resort town is an obvious option due to its abundant outdoor recreation and cultural offerings, proximity to Salt Lake City International Airport for when travel resumes, and the conveniences of a nearby urban center that no other comparable resort town boasts. Consequently, Park City is experiencing an unprecedented demand for luxury real estate and scarce inventory. Nowhere in Park City is this more evident than at Promontory, one of the most exclusive, private communities in the West.

The 6,400-acre, amenity-rich community accounts for 22 percent of Park City’s July and August home and land real estate boom. It had an astounding 86 new deals during those two months, more than triple the amount during the same time period last year, with record sales of over $275 million year-to-date, compared to $214 million for all of 2019. There have been 165 sales in the community so far in 2020 compared to a year-end total of 142 in 2019. As Park City’s only private community featuring a fully built out infrastructure of year-round member amenities, Promontory is well-positioned to support this increased wave of demand. Last year, Promontory introduced its new enclave, Pinnacle at Promontory, which provides even more seclusion as a smaller gated community with its own member amenity and even larger homesites.

Promontory sets new home sales record
Dye Clubhouse at Promontory

“Promontory was instrumental in redefining Park City as a summer destination. My vision was to create a world-class mountain retreat second to none for multi-generational families with a vast array of amenities and programming designed to be enjoyed year-round,” says Promontory developer Francis Najafi of Pivotal Group. “This record sales activity has solidified us as a desirable haven for new buyers and longtime members to be together with their young children, adult children, and grandchildren. Families find comfort in the ways they are able to connect amidst an expansive retreat that offers safety and variety with five restaurants and many on-site recreational offerings, including two golf courses with their own clubhouses, an equestrian center, miles of trails for year-round enjoyment, a winter tubing hill, and a new event venue. Our membership has typically been 80% second homeowners, but we are now seeing the percentage of primary residents increase due to sudden changes in families’ lifestyles and priorities.”

Promontory’s numbers are reflective of the larger Park City picture. Park City closed home sales in July and August 2020 volume increased more than twofold over July and August 2019. 116 home sales amounted to $206 million in July and August 2019, while July and August 2020 saw 188 sales totaling $446 million. As of September 1st, pending home volume in Park City was $564 million compared to $215 million at the same time last year. In addition to the idyllic lifestyle, the fact that Park City’s exceptional public schools are open for in-person learning is a draw for families from out of state. Many second homeowners are also becoming primary residents, selling their existing properties in search of homes that better meet their needs for year-round living.

Owner of several Engel & Völkers brokerages throughout the Western United States, luxury Real Estate Advisor Paul Benson has handled 61 of transactions totaling $172 million in Park City this summer. “The significant increase in demand from families relocating is resulting in scarcity of luxury properties and driving prices up,” says Benson. “There is little opportunity for new construction within Park City limits, and people are drawn to the exclusive lifestyles offered by Park City-adjacent communities like Promontory that feature member-only amenities and more space for safety and quality of life.”

Recent transplants are relocating from dense areas like Southern California, the New York tri-state area, Chicago, Texas, and the Bay Area. In a stark reversal of the norm, some plan to make Park City their primary home and buy or maintain apartments in the cities from where they moved. Whether this migration from urban centers is a long-term trend and if there are significant changes to the seasonal nature of the town, which was already beginning to experience shorter shoulder seasons prior to the pandemic, remains to be seen. For now, escalating home prices and demand are showing no signs of slowing down.

ABOUT PROMONTORY

Promontory is an award-winning 6,400-acre recreational second home and private mountain community in Park City, Utah. Promontory’s expansive mountain setting offers diverse year-round amenities and activities for the multi-generational family. The community consists of 1,674 homesites with stunning mountain views. More than 627 homes have been built, and there are approximately 675 Members of the private, Promontory Club. Eight of Promontory’s 30 distinct neighborhoods feature developer-built homes, known as Promontory HOMES. These include the new, modern Portfolio of Homes within the Pinnacle at Promontory neighborhood. For more information, visit www.promontoryclub.com.

Statistics contained within this report are based on information from sources including Park City Board of REALTORS® MLS and Proprietary Internal Reporting for the period 1-1-2019 through 8-31-2020.

Promontory Foundation Provides Aid During Coronavirus Pandemic

PROMONTORY FOUNDATION PLEDGES $10,000 IMPACT GRANT TOWARD PARK CITY COMMUNITY FOUNDATION’S COMMUNITY RESPONSE FUND

Promontory Foundation Supports Park City Community Foundation's Community Response Fund

PARK CITY, UTAH –Three weeks following the announcement ofthe partnership between Promontory Foundation, Promontory Club’s 501(c)(3) non-profit, and Park City Community Foundation to develop Impact Grants within the Park City community, Promontory Foundation has pledged a $10,000 impact grant for the Community Response Fund. This fund, hosted by Park City Community Foundation, is designed to strengthen the ability of local non-profits on the front line of the novel coronavirus (COVID-19) to respond immediately. 

“Promontory Members have asked how they can help, and I am grateful that I can direct them to The Community Response Fund,” says Robin Milne, Promontory Foundation President.  “We have asked that our lead grant multiply by at least 10-fold in order to build $100,000 or more towards this effort to “help the helpers” in Park City.”

The Community Response Fund, hosted by Park City Community Foundation, will offer flexible resources to organizations in Summit County working with communities who are disproportionately impacted by coronavirus and the economic consequences of this outbreak.

“Promontory Foundation’s generous pledge and efforts to inspire Park City residents to participate will amplify our efforts during this challenging time for our community and ensure our local non-profits can make a meaningful impact in providing essential relief,” says Katie Wright, Executive Director of Park City Community Foundation. “We encourage everyone in a position to support the fund to do so by visiting https://parkcitycf.org/communityresponsefund/.”

The fund will support health and human services non-profits in greater Park City that are handling cases related to the impact of COVID-19. Targeted operating grants will fund organizations that have deep roots in community and strong experience working with residents without health insurance and/or access to sick days, people with limited English language proficiency, healthcare and gig economy workers, and communities of color, among others.

The first phase of rapid-response grants, initiated within the next few weeks, will increase resiliency in disproportionately affected communities by addressing the economic impact of reduced and lost work due to the broader COVID-19 outbreak, and the immediate needs of economically vulnerable populations caused by COVID-19 related closures.

ABOUT PROMONTORY

Promontory is an award-winning 6,400-acre recreational second home and private mountain community in Park City, Utah. Promontory’s expansive mountain setting offers diverse year-round amenities and activities for the multi-generational family. The community consists of 1,674 homesites with stunning mountain views. More than 613 homes have been built, and there are approximately 657 Members of the private, Promontory Club. Seven of Promontory’s 27 distinct neighborhoods feature developer-built homes, known as Promontory HOMES. These include the new, modern Portfolio of Homes in Pinnacle at Promontory. For more information, visit www.promontoryclub.com.

About Park City Community Foundation: 

Park City Community Foundation plays a vital role in solving the most challenging problems in Park City. We care for and invest in our people, place, and culture by bringing together local nonprofits, donors, and community leaders to contribute financial resources and innovative ideas to benefit all the people of Park City—now and in the future. As the home of Live PC Give PC, Women’s Giving Fund, Solomon Fund, and other important initiatives, the Community Foundation has brought millions of dollars to the greater Park City community and Summit County. Learn more about donating, volunteering, fundraising and getting involved in the generosity of Park City at parkcitycf.org.

Promontory Announces Exclusive New Neighborhood

PROMONTORY CLUB – PARK CITY, UTAH’S WORLD-CLASS VACATION HOME COMMUNITY – INTRODUCES EXCLUSIVE, NEW NEIGHBORHOOD OFFERING THE ULTIMATE IN PRIVACY

Pinnacle at Promontory is a 143-Acre Dream Within a Dream Experience Perched Above the Back Nine of the Pete Dye Signature Golf Course

the Skyhouse at Promontory
The Skyhouse, a luxury amenity for residents at The Pinnacle at Promontory

The most luxurious, private vacation home community in Park City is elevating its exclusivity by introducing a highly anticipated new neighborhood – Pinnacle at Promontory. Consisting of 143-acres, the enclave is perched on elevated topography above the back nine holes of the Pete Dye Signature Golf Course. Secluded beyond a private gate, Pinnacle at Promontory’s crown jewel will be Skyhouse, a private amenity, creating an architecturally stunning centerpiece for the neighborhood. A community oasis, Skyhouse, will feature a pool and outdoor courtyard for gatherings, spa treatment rooms, showcase kitchen with private entertaining space, and a state-of-the-art fitness center and movement studio.

“Early on, I made the decision to hold this pristine land in reserve until after the promise of Promontory had been built and its luxurious grandeur was fully realized and established,” says developer Francis Najafi of Arizona-based Pivotal Group. “Offering the most sensational, panoramic views in Promontory, Pinnacle has been thoughtfully planned for those who expect uncommon luxury. With Bloomberg ranking Park City number 1 in its 2019 Index of Affluent Vacation Home Havens, we feel this new neighborhood is appropriately timed to appeal to these discerning families seeking spacious luxury, one-of-a-kind services, and privacy.”

An initial release consisting of 16 majestic, expansive custom estate homesites, boasting unparalleled views of the Wasatch range and the Pete Dye Golf course is anticipated in late Summer 2019. Reservations are now being accepted. In addition to these exquisite homesites, Promontory will introduce the Pinnacle Portfolio of Homes, built by Promontory HOMES. Buyers may select from stunning home designs commissioned especially for Pinnacle at Promontory by renowned architects/designers, including Clive Bridgwater (Bridgwater Consulting Group), John Sather (Swaback), and Erik Peterson (PHX Architecture), as well as exquisite interior finishes by Vallone Design and Alder & Tweed to customize their dream home. An additional 12 homesites to accommodate these luxurious masterpieces will be offered in the initial release.

“Promontory is a community meticulously designed for multi-generational families by providing amenities that cater to each member, including distinctive neighborhoods that accommodate various lifestyles,” explains Robin Milne, Promontory’s General Manager. “While fully integrated into the Promontory landscape, Pinnacle at Promontory has all the ingredients to help a buyer achieve their idea of being at the pinnacle of what life can be!”

ABOUT PROMONTORY

Promontory is an award-winning 6,400-acre recreational second home and private mountain community in Park City, Utah. Promontory’s expansive mountain setting offers diverse year-round amenities and activities for the multi-generational family. The community consists of 1,674 homesites with stunning mountain views. More than 578 homes have been built, and there are approximately 625 Members of the private, Promontory Club. Seven of Promontory’s 27 distinct neighborhoods feature developer-built homes, known as Promontory HOMES. These include the new, modern Nicklaus Villas on the Jack Nicklaus Painted Valley Golf Course. For more information, visit www.promontoryclub.com.

Promontory Director of Golf Wins PGA Award

The Utah Section PGA, experts in the game and business of golf in Utah, recently announced its annual awards. Ryan Kartchner, Promontory’s Director of Golf won the prestigious Professional of the Year category. Winners of the annual awards are nominated by Utah Section PGA Professionals. Award winners are dedicated to their profession by working to improve the quality of golf in Utah, including growing and teaching the game.

Kartchner has been with Promontory since 2017 where he has overseen the luxury vacation home community’s two signature golf courses – the Jack Nicklaus Painted Valley Golf Course and the Pete Dye Canyon Course. Ryan is very active in the Utah golf scene, serving on numerous boards and committees related to the sport. He has also served as the President of the Utah Section PGA and works closely with the national office and leadership of the PGA of America. Ryan works with all of the Allied Associations in the State to help grow the game, especially Junior Golf and has scheduled PGA events for Juniors in Utah.

 “Leading Promontory’s golf program and working with our incredible members from all over the country has been one of the most fulfilling experiences of my career. There is no greater honor than to be recognized by industry peers, many of whom are my mentors who have inspired me and shaped my career as a golf professional. I’m truly honored to have received this award from the Utah Section PGA,” Ryan Kartchner says.

In addition to making a visible impact on the Utah Section PGA, Kartchner has enhanced the Promontory experience by focusing on the enjoyment of the game for the members he enthusiastically serves.

“We are so proud of Ryan for winning this Utah PGA award and are grateful for his tremendous contributions to our golf offerings,” says Robin Milne, General Manager of Promontory. “Ryan has launched amazing junior golf programs at Promontory, including the AJGA’S Rolex Girls Junior Championship last summer. We also hosted the Sub Regional for the national ‘Drive, Chip & Putt’ competition that finishes at Augusta National the Sunday before the Masters.”

Under Kartchner’s leadership, Promontory continues to introduce new golf programs and events for members in an effort to maintain its status as one of the leading private communities for golf in the U.S.

Utah Section PGA officers present Promontory Club Director of Gold Ryan Kartchner with the Professional of the Year Award/
Photo Caption: Utah Section PGA officers (From Left) Jeff John, Dustin Volk and Kent McComb present Promontory Club Director of Golf Ryan Kartchner with the Professional of the Year award.







Photo Credit: Fairways Media/Jesse Dodson

New Ski Lodge for Promontory Members

PARK CITY’S MOST LUXURIOUS SECOND HOME COMMUNITY INTRODUCES EXCLUSIVE PRIVATE SKI LODGE AMENITY FOR MEMBERS

Promontory's new PC Lodge at Park City Mountain

The most exclusive vacation home community in Park City continues to impress by welcoming a new amenity this ski season. Promontory is pleased to debut the extraordinary PC Lodge at the base of Park City Mountain’s award-winning resort. With the PC standing for both Promontory Club and Park City, the luxurious 6,000 square-foot lodge is for members only. Members of this nationally recognized multi-generational, private community will enjoy ski-in, ski-out access to the First Time lift where beginners can learn to ski and snowboard and from where more accomplished enthusiasts can access the rest of the resort’s varied terrain.

“Our goal is to remain on the leading edge of luxury private club concepts by continuing to deliver and expand our world-class offerings,” says Francis Najafi, CEO of Pivotal Group, the developer of Promontory. “Our prime location affords us the flexibility to create new luxury amenities and residences that exceed our members’ expectations and entice new members to become a part of this special, highly coveted community.”

Located at Park City Mountain Village on the lower level plaza under the Park City Ski Team Training Center and thoughtfully planned by Vallone design, the PC Lodge impeccably combines open space with six cozy gathering nooks that provide abundant seating. The Lodge’s walls of glass and warm woods flawlessly complement the natural surroundings. Members and their guests are invited to relax by the fireplace and on sunlit sofas, watch television, and fuel up with complimentary light fare and beverages. More than 200 lockers are available for daily, weekly, and seasonal use, so members can conveniently store their gear. Promontory’s Outfitter, a former Olympic skier, will enthusiastically accompany members for ski outings. The PC Lodge will also feature a small retail shop with handy items like lip balm and hand warmers. A dedicated Promontory shuttle will provide transportation to and from the Lodge for extra convenience.

“As a luxury, multi-generational club, we recognize that family members have varying interests, so we strive to offer something for everyone at Promontory,” says Robin Milne, General Manager of Promontory. “With Deer Valley being a skiers-only resort, we can now accommodate both skiers and snowboarders by having this ski-in, ski-out lodge at Park City Mountain. This perfectly embodies our ‘play your way’ philosophy.”

The PC Lodge ribbon cutting for members and VIPs will be held on Friday, December 21, when families from all over the country are in town to celebrate the holidays. A private reception for media and the Park City business community will follow on January 8, 2019.

Additional Promontory amenities include the Ranch Clubhouse & Spa, Luke Ridge Tubing Hill, Alpine Lodge at Deer Valley, Equestrian Center, The Beach House, Jack Nicklaus and Pete Dye signature golf courses with respective clubhouses, The Shed Clubhouse, Kids’ Cabin, Outfitter’s Cabin, and more.

ABOUT PROMONTORY

Promontory is an award-winning 6,400-acre recreational second home and private mountain community in Park City, Utah. Promontory’s expansive mountain setting offers diverse year-round amenities and activities for the multi-generational family. The community consists of 1,674 homesites with stunning mountain views. More than 560 homes have been built, and approximately 682 homesites are currently available. Six of Promontory’s 24 distinct neighborhoods feature developer-built homes, known as Promontory Homes. These include the new, modern Nicklaus Villas on the Jack Nicklaus Painted Valley Golf Course. For more information, visit www.promontoryclub.com.

Promontory Pets Celebrate Dog Park Improvements

PARK CITY’S MOST PAMPERED PETS CELEBRATE A NEW AND IMPROVED PLAYGROUND AT PROMONTORY

A Ribbon-Cutting Event Was Held for Dogs and Their Owners

Promontory Park City

Luxury living just became more enticing for Promontory’s four-legged members with a new and improved dog park where a ribbon-cutting celebration was held on Friday, November 16. Not only has the dog park doubled in size, but there are separate areas for large and small dogs for those who prefer to play with their own. For others who opt for an integrated playtime, there is a gate between the two areas, so dogs of all sizes can mingle. A designated off-leash trail leads to the park where grass, landscaping, and shaded seating are additional, new features to the dog park, which is open year-round. A full-fledged pet playground with various agility equipment is also being planned.

“As a community created for multi-generational families, Promontory includes pets in that mission,” adds Francis Najafi, CEO of Pivotal Group, the developer of Promontory. “We enjoy debuting new amenities to keep Park City’s most luxurious and innovative private community on the cutting edge.”

Several Promontory members and their furry friends joined the ribbon-cutting, and a selection of gourmet treats was offered for the private community’s discerning dogs who came out in full force with tails wagging.

“We recognize that pets are an integral part of the lifestyle our members enjoy at Promontory, so we are excited to elevate the amenities for these ‘fetching’ members as well,” says Robin Milne, Promontory’s General Manager, who attended the event with her own dog. “Like all of our amenities, the dog park takes advantage of stunning views for the entire family to enjoy.”

ABOUT PROMONTORY

Promontory is an award-winning 6,400-acre recreational second home and private mountain community in Park City, Utah. Promontory’s expansive mountain setting offers diverse year-round amenities and activities for the multi-generational family. The community consists of 1,674 homesites with stunning mountain views. More than 560 homes have been built, and approximately 682 homesites are currently available. Six of Promontory’s 24 distinct neighborhoods feature developer-built homes, known as Promontory Homes. These include the new, modern Nicklaus Villas on the Jack Nicklaus Painted Valley Golf Course. For more information, visit www.promontoryclub.com.

Junior Golf Championship at Promontory

American Junior Golf Association Promontory Club Park City Utah

AJGA’S ROLEX GIRLS JUNIOR CHAMPIONSHIP GOLF TOURNAMENT TO BE HELD AT PROMONTORY CLUB IN UTAH

Park City’s Exclusive Private Community to Host World’s Top 72 Girl Players on Its Award-Winning Pete Dye Canyon Course

For the first time, the American Junior Golf Association (AJGA) will hold the Rolex Girls Junior Championship golf tournament at Promontory Club, a private second home community in Park City, Utah. The invitational tournament will feature the top 72 young women players from around the world competing on Promontory’s award-winning Pete Dye Canyon Course, June 11 to 15, 2018.

“It has been more than a decade since we held a tournament of a similar caliber in Utah, and we feel so fortunate to have Promontory as an enthusiastic partner,” says Blair Thompson, AJGA Tournament Director for the Rolex Girls Junior Championship. “This will be an incredible chance for Utah golf fans and college recruiters to witness the sport’s rising stars playing on one of the state’s most renowned courses. It’s also exciting for the young women to compete in a world-class destination like Park City.”

Pete Dye Canyon Golf CourseThe event kicks off Monday, June 11 with a Junior-Am fundraising tournament, giving sponsors the unique opportunity to play with one of the top junior girls on each team. The tournament will raise money for AJGA charities like the Ace Grant, local junior golf organizations, and the Promontory Foundation, which is dedicated to donating funds to Park City’s non-profit organizations. Individuals and organizations interested in sponsorship opportunities may contact Lisa Hardy, Tournament Chair at 801.372.4488 or lisa.c.hardy@gmail.com.

Official championship play starts on June 12 and concludes June 15 with an awards ceremony at 2:30 p.m. at The Shed amphitheater. For the complete tournament schedule, visit https://www.ajga.org/microsite/index.asp?tn=2018049 Public access is limited, please call Cole Carlson at 435-333-4720 if interested in attending.

Promontory General Manager Robin Milne remarked, “Promontory GOLF, led by Utah’s Section PGA President, Ryan Kartchner, is honored and excited to host the world’s best Junior Girls as they compete for the coveted Rolex Championship! As a multi-generational private club ranked the “The BEST of Utah 2018”, supporting the game of golf at all ages aligns perfectly with our community’s lifestyle!”

Tournament Chair Lisa Hardy adds, “I have been trying to get an AJGA event to Utah for years and am thrilled to finally have one of such high caliber and am thankful to Promontory for hosting the event. Having had the opportunity to play in this tournament as a high school student, I am pleased to support these young ladies and to give back to the AJGA. While showcasing these players’ tremendous talent to help them secure college scholarships, the AJGA instills integrity, sportsmanship, honesty and respect – great lessons for life itself. “