PARK CITY, Utah — Extell Development Company, a New York-based, full service national real estate developer, announced the closing of a $600 million construction loan for Four Seasons Resort and Residences Deer Valley within Deer Valley East Village, the first new luxury alpine village to be developed in North America in more than forty years. Financed by JVP Management, an investment firm headquartered in New York, the loan is believed to be the largest for a hotel and residential condominium construction project in Utah.
“We are thrilled to be a part of this landmark development,” said Anthony Shaskus, the Head of Credit Strategies at JVP Management. “We’ve enjoyed a long history of working with Gary Barnett and the Extell team, and look forward to supporting the firm’s development of Dear Valley East Village.”
With nearly 40% of the overall inventory sold, Four Seasons Resort and Residences Deer Valley’s construction began earlier this spring, with completion expected in 2028.
“This loan underscores the tremendous confidence the market has in the Four Seasons brand, who we have partnered with on three separate projects, as well as our commitment to Deer Valley East Village,” said Gary Barnett, Founder and Chairman of Extell Development Company. “We’re excited to have reached this milestone with our long-term lending partner JVP and look forward to seeing this vision come to life with the grand opening of Deer Valley’s ski expansion this upcoming winter.”
With design led by ODA Architecture, the resort offers one- to six-bedroom homes ranging from 1,200 to 7,000 square feet, all with direct ski-in/ski-out access and five-star amenities and service. The 55 residences atop the hotel, which are already 60% sold, are complemented by an adjacent building with 68 private residences ranging from one to five bedrooms, featuring additional exclusive amenities.
Guests and residents alike will enjoy world-class amenities, including expansive wellness and fitness facilities with saunas, steam rooms, whirlpools, and spa services. A collection of four dining venues that are highlighted by a ski-in/ski-out lounge with an outdoor terrace and fireplace will introduce a new culinary experience to Deer Valley, perfect for après-ski or après-spa. Homeowners will enjoy a service rich lifestyle, delivered by a dedicated Director of Residences who ensures that the brand’s renowned hospitality seamlessly extends into everyday living.
Designed for all-season mountain living, the resort and residences have been thoughtfully planned to transform with the changing seasons, offering amenities perfectly suited for a year-round mountain experience. Guests and residents can enjoy over 50 miles of hiking and biking trails, an ice rink, indoor sports court, and indoor and outdoor pools with panoramic views and private cabanas. The property will also feature spaces for gatherings of all sizes, including a grand ballroom, three meeting rooms, and an outdoor event terrace.
Situated 40 minutes from Salt Lake City International Airport, Deer Valley East Village’s
long-awaited expansion will be showcased in the 2025/2026 ski season when the resort will double the size of its current skiable terrain, adding 10 new chairlifts and 100 new ski runs. Several major enhancements are slated for future years, including on mountain food and beverage and additional ski amenities. Upon completion, Deer Valley will boast over 5,726 acres of skiable terrain served by 37 chairlifts across 238 runs, securing its position as one of the largest ski resorts in North America.
Summit Sotheby’s International Realty handles sales for the private residences. For more information, please contact Sheila Hall at sales@dveastvillage.com or call 435-640-7162.
Extell Development
Founded and headed by Gary Barnett, Extell Development is a nationally acclaimed real estate developer of residential, commercial, retail, hospitality, and mixed-use properties, operating primarily in New York City, Utah, and other premier locations across the nation. In collaboration with world-class architects and design professionals, Extell creates properties distinguished by sophisticated design, gracious floor plans and first-class amenities.
Extell pioneered Manhattan’s Billionaires’ Row, having developed some of city’s ultra-luxury properties along 57th Street, including Central Park Tower, the tallest residential building in the world located above Nordstrom’s flagship Manhattan store and One57, the record-breaking glass tower which includes condominiums above Park Hyatt’s five-star flagship hotel. Additional completed projects include One Manhattan Square, the largest condominium building on Manhattan’s Lower East Side waterfront; Brooklyn Point in Downtown Brooklyn, and The Lofts Pier Village, a luxury oceanfront condominium at the Jersey Shore with resort-style amenities, W Hotel in Times Square, the Boston Intercontinental Hotel, Four Seasons Resort and Residences Vail, and Grand Hyatt Deer Valley. Extell Development also recently announced plans for luxury Four Seasons Resort and Private Residences Deer Valley to come to Park City, UT.