HEATHER FELDMAN, EQUITY REAL ESTATE LUXURY GROUP PARK CITY 435-731-0803
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| Stats courtesy of Rick Klein, Wells Fargo Mortgage. For full stats package, email me at heather@parkcityhousehunters.com |
TO BRING RALEIGH STUDIOS TO QUINNS JUNCTION
Developer to petition Park City to annex land into corporate limits.
Park City, Utah; January 18, 2012
Summit County and Park City officials have reached an agreement with developer Greg Ericksen to bring Raleigh Studios to Quinns Junction area. This announcement comes after more than a year of discussions with Mr. Ericksen on the development of a movie studio, entertainment center, hotel and digital medial complex by Raleigh Studios. General terms of the settlement agreement include project size, adherence to local design guidelines and safeguard the Sundance Film Festival.
One key term of the settlement agreement is an application by Mr. Ericksen to annex the property into Park City. The property is located just outside the Park City corporate limits, southeast of the intersection of State Route 248 and U.S. 40. “The City fought against this project for many years,” said City Manager Tom Bakaly. “Over that past year it became increasingly apparent that the high level of interest in this project by the Utah Legislature, coupled with the pending lawsuit between Mr. Ericksen and Summit County, made it highly likely that a movie studio would be built in the Quinns Junction area.” Given these circumstances it is in our best interest to work with Mr. Ericksen and Raleigh Studios in order to accomplish community goals that “support the lodging industry, protect the Sundance Film Festival from unfair competition, and make this project fit as best as possible with area design guidelines and the Park City brand.”
County Manager Bob Jasper further explained that “while the project will have greater density than our zoning allows on that site, we are pleased to have this lawsuit dismissed and to begin a new chapter with Mr. Ericksen and Raleigh Studios.”
If the annexation into Park City is approved, the settlement agreement would allow a movie studio, entertainment center, hotel and digital medial complex of up to 374,000 gross square feet of density subject to the following limitations:
The hotel would be limited to 100 rooms and 100 total keys;
The entire project would be built to LEED standards;
Mr. Ericksen and Raleigh Studios cannot cause any harm to Sundance, and
Raleigh Studios will have to comply with design guidelines included in the agreement. The guidelines are such that the movie studio’s look and feel would be similar to the surrounding buildings, such as the hospital. Additionally, the City’s Planning Department would be heavily involved in the review of the design.
If the annexation is turned down by the Park City Council after a review by the Park City Planning Commission, the project would revert to Summit County for a movie studio, entertainment center, hotel and digital media complex of up to 355,000 gross square feet of density.
The Summit County Manager has approved the Settlement Agreement. The Park City Council will review and possibly approve the Park City Annexation Addendum to the Settlement Agreement and accept the annexation petition on January 26, 2012. Bakaly added that “staff will recommend that the Park City Council and Planning Commission consider the agreement and public annexation process as a way to accomplish our greater community goals.”
Quinns Junction is located at the intersection of State Route 248 and US 40. It is home to Intermountain Healthcare Hospital, the National Ability Center, the United States Ski and Snowboard Association, Physicians Healthcare, the Park City Ice Arena & Sports Complex, Summit County Health Department and People’s Health Clinic.
