Park City's real estate landscape is about to reach new heights of luxury. The Waldorf Astoria Deer Valley Resort and Residences, scheduled to open in 2028, will anchor Deer Valley East Village, the first major public ski resort developed in North America in over 40 years. For discerning buyers and investors, this development represents a rare opportunity to secure property in what's being called a once-in-a-generation project.
A Ski-In, Ski-Out Masterpiece
Positioned alongside the 4.8-mile Green Monster, Deer Valley's longest run, the Waldorf Astoria will offer true ski-in, ski-out access with unobstructed views of Bald Mountain, Hail Peak, and Park Peak. The property's signature feature? A cantilevered pool extending over the slope, where swimmers can watch skiers glide beneath them - a design element that epitomizes the property's innovative approach to alpine luxury.
"Waldorf Astoria is one of the most prestigious hotel brands in the world, and the recent restoration and reopening of the Waldorf Astoria New York has reaffirmed that legacy," says Gary Barnett, founder and chairman of Extell Development Company, the developer behind this $5+ billion multi-phased project. "Bringing that renewed sense of excellence, elegance and brand strength to Deer Valley is incredibly exciting and sets a new benchmark for luxury in the mountain resort space."
The Real Estate Opportunity
The resort will feature 132 hotel accommodations alongside 105 private residences ranging from one to six bedrooms. The residential offerings are split between 56 units located above the hotel and 49 units in a standalone Waldorf Astoria Residences Deer Valley tower. With floor plans spanning 1,099 to 5,155 square feet, these residences cater to a range of luxury buyers, from those seeking a mountain pied-à-terre to families wanting a legacy property.
Residence owners will enjoy exclusive benefits including Hilton Honors Diamond status for the length of ownership, along with bespoke privileges, discounted rates, and personalized travel assistance.
World-Class Design and Amenities
The architectural vision comes from KPF (Kohn Pedersen Fox), the firm behind global landmarks like Atlantis The Royal in Dubai and Rosewood Bangkok. Interior design is led by AvroKO, known for their distinctive work at W Prague and Four Seasons Hotel Bangkok's BKK Social Club. The result will be a sleek, glass-filled structure that maximizes mountain views while creating intimate, luxurious spaces.
Amenities will include:
- A 15,000-square-foot spa featuring thermal elements and a snow room (a chilled chamber used in hydrotherapy circuits)
- Indoor lap pool and fitness centers
- Outdoor pool and hot tub cantilevered over the ski run
- Resident's pool deck along the Green Monster
- Ski valet and concierge services
- Golf simulator and children's room
- Multiple restaurants and bars, including the brand's signature Peacock Alley
- 11,300 square feet of meeting and event space, including a 5,200-square-foot ballroom
The Deer Valley East Village Ecosystem
The Waldorf Astoria is just one component of the larger East Village development, which will ultimately include eight hotels (including Grand Hyatt Deer Valley, Four Seasons, and Canopy by Hilton), 32 restaurants, and 42 shops. The village will offer up to 250,000 square feet of retail and commercial space, along with diverse residential options from estate lots to luxury condominiums.
This marks the second Waldorf Astoria in Park City, joining the Forbes Travel Guide Four-Star Waldorf Astoria Park City at the base of Park City Mountain Resort. "Waldorf Astoria Deer Valley Resort and Residences will reflect the same hallmark luxury as Waldorf Astoria Park City, offering personalized service, iconic design and signature experiences—enhanced by exclusive Hilton Honors benefits," says Kara Randall, vice president of North America luxury and mixed-use development at Hilton.
Unprecedented Ski Terrain Expansion
Deer Valley's expansion reached a major milestone this season, with the skiers-only resort doubling its size. In December, the resort unveiled 80 new ski runs and seven new lifts, complementing the 20 new runs and three lifts that opened last season. Upon completion, Deer Valley will encompass more than 5,726 skiable acres across 238 runs serviced by 37 chairlifts - positioning it among the largest ski resorts in North America.
The East Village provides seamless access to this expanded terrain via the Jordanelle Express Gondola, with the added benefit of being just 40 minutes from Salt Lake City International Airport.
The Developer's Vision
Extell Development Company, the New York-based firm behind this project, is known for iconic skyscrapers including One57 (which houses Park Hyatt) and Central Park Tower, the world's tallest residential building at 1,550 feet. But Gary Barnett saw something unique in Utah.
"Deer Valley presented a truly one-of-a-kind opportunity not just in the Western Hemisphere, but in the world," he explains. "The combination of world-class skiing, scale and the ability to create a fully integrated luxury village from the ground up simply doesn't exist elsewhere or come close to it."
Investment Outlook
For real estate investors and end-users alike, the Waldorf Astoria Deer Valley represents several compelling value propositions:
Scarcity Value: This is the first new major ski resort in North America in four decades, and opportunities to purchase branded residences in such developments are exceptionally rare.
Brand Power: The Waldorf Astoria name carries global recognition and a proven track record of value retention in the luxury residential market.
Location: Park City continues to attract high-net-worth individuals, and recent recognition by Forbes Travel Guide as a top 2026 destination reinforces the area's growing prestige.
Year-Round Appeal: Beyond winter sports, the East Village will offer a ski beach on Jordanelle Reservoir and extensive summer programming, supporting strong rental potential and personal usage flexibility.
Infrastructure: Proximity to Salt Lake City International Airport (40 minutes) with daily flights from major domestic and international hubs enhances both lifestyle convenience and rental marketability.
Looking Ahead
With construction already underway (ground broke in May 2025) and a targeted 2028 opening, the Waldorf Astoria Deer Valley Resort and Residences is moving from vision to reality. We're closely monitoring this development for our clients interested in Park City's luxury market and would be happy to discuss how this opportunity fits into your investment strategy or lifestyle goals.
At Modern and Main, we work extensively with clients in the Park City area and have insight into how branded residences like this perform in both the short and long term. If you'd like to learn more about this project or explore other opportunities in the region, reach out to our team.