Deer Valley Resort has announced a delay in the groundbreaking of its long-anticipated Snow Park base redevelopment, a $1.5 billion project originally slated to begin construction this summer. Resort representatives confirmed that no major work will be initiated during the 2025 summer season, citing the complexity of the plans and the numerous agencies involved.
“Due to the complexity of the Snow Park base project and the many steps and collaborative efforts involved, we do not anticipate any major construction activities in the base area this summer,” said Emily Summers, Director of Communications at Deer Valley.
Phase one, which includes a new transit center and multi-level parking garage to replace the existing surface lot, received approval from the Park City Planning Commission in February. However, phase two—which proposes new lodging, retail, and an event space—is still awaiting approval and will roll out in multiple stages over the next five years.
Deer Valley is owned by Alterra Mountain Company, which has committed $1.5 billion toward the Snow Park redevelopment. Alterra, formed by KSL Capital Partners and Henry Crown & Company, owns nearly 20 resorts across North America and operates the Ikon Pass. In early 2024, KSL announced the close of a $3 billion single-asset continuation vehicle for Alterra, backed by global institutional investors such as pension funds, sovereign wealth entities, and endowments.
While Snow Park’s timeline shifts, other Deer Valley improvements remain on schedule. This summer, construction will begin at Park Peak, including new ski lifts and a lodge, as part of the expansive East Village development across the Wasatch County line.
The East Village project—largely spearheaded by MIDA and developer Extell—will ultimately include the Grand Hyatt Deer Valley, up to 6,000 residential units, and significant resort infrastructure, in preparation for the 2034 Winter Olympics. Alterra’s contributions to East Village are focused primarily on lift and operations enhancements.
According to MIDA Executive Director Paul Morris, over $650 million in bonds have been issued to finance the broader development. These public investments have leveraged a 6:1 private-to-public funding ratio, bringing total private investment in East Village to an estimated $3.9 billion.
Despite the construction delay at Snow Park, Deer Valley remains active on other fronts, unveiling a full summer concert lineup and continuing long-term planning efforts for resort-wide modernization.
This strategic shift highlights Deer Valley’s commitment to phased, responsible growth—balancing infrastructure readiness, public-private partnerships, and community impact while maintaining its position as a premier four-season destination in the Rockies.
