Crandall Capital Breaks Ground on ‘The Commons’
Park City—Crandall Capital is proud to announce they have begun construction on a mixed-use project in Park City, Utah, called ‘The Commons’. Located in the Newpark Towncenter at Kimball Junction the development broke ground mid-October 2019 and has an anticipated completion date of October 2020. The Commons mixed-use project will be located adjacent to the Newpark Amphitheater and will have unobstructed views of the 1,200-acre Swaner Nature Preserve.
The ground-up construction, when completed, will house 38 affordable apartments and approximately 12,500 sqft of ground-level premium retail. The outdoor patio and dining areas will overlook the Newpark Amphitheater and nature preserve. Ryan Crandall a partner of Crandall Capital stated, “The Commons outdoor dining areas will offer the best seats for Newparks weekly outdoor summer concerts.”
With a total building size of 37,659 sqft, The Commons will be the final development in the Newpark Towncenter master plan. The affordable apartment component will consist of 18 studios, 14 one-bedroom units, 4 two-bedroom units, and 2 three-bedroom units.
Crandall Capital contracted Zwick Construction for the ambitious 12-month build. Zwick Construction is a multi-generational general contractor with three locations, Salt Lake City, Saint George, Utah, and Irvine California. Together Zwick and Crandall Capital hope to create an impressive project that will provide the needed affordable housing and an exceptional retail experience. Gary Crandall, Principal of Crandall Capital wanted to thank those that helped make The Commons a reality, “we are grateful for the support and insights of the Summit County planning department, County Council, and County Commissioners, The Commons has transformed into an incredible project because of them.”
About Crandall Capital
Crandall Capital is a family-owned real estate development firm with over 40 years of experience and is owned and operated by Matthew, Ryan, and Gary Crandall. The company specializes in mixed-use, condominium, and commercial properties in the Mountain West region. Over the past 5 years, Crandall Capital developed the Newpark Terrace, a 60 unit condominium development in Kimball Junction, the Utah Film Studios a 90,000 sqft world-class film studio located in Park City, and purchased 123,000 sqft of retail in the Newpark Towncenter with Best Buy as its anchor. Looking forward Crandall Capital plans to develop its 284,000 sqft of entitlements at Quinns Junction adjacent to the Utah Film Studios. The entitlements include a hotel, office building, general commercial, entertainment, and mixed-use components.
To learn more, please visit their website CrandallCapital.com