Treasure Hill, By the Numbers

Breaking down Park City’s priciest-ever open-space investment.

By Melissa Fields June 18, 2018 Published in the Summer/Fall 2018 issue of Park City Magazine

Treasure Hill sits just behind Town Lift Plaza

Since 1998, Park City voters have happily voted to tax themselves in the name of open-space preservation, land purchases that have helped maintain Park City’s mountain-town appeal and become some of our berg’s most coveted playgrounds. But those previous bonds, which ranged from $10 million to $25 million, will seem like a drop in the bucket compared to what the city is planning to ask voters for to buy land, known as Treasure Hill, overlooking Old Town. Here’s the nitty-gritty of the proposed deal.


Acreage of the Creole Gulch and Mid-Station parcels, collectively known as Treasure Hill


Deal reached by Park City Municipal in January 2018 to purchase 100 percent of the development rights to Treasure Hill from Sweeney Properties


Treasure Hill cost, per acre


Sale price of a half-acre vacant lot adjacent to Treasure Hill off Woodside Ave in April 2018 (source: Summit Sotheby’s International Realty)


Bond amount anticipated to be on the ballot in November to purchase Treasure Hill


Reallocated from planned improvements of the Brew Pub parking lot ($7.5 million) and existing open-space funds to pay the balance of the Treasure Hill purchase


Average annual property tax increase full-time residents would see to pay for the Treasure Hill bond (based on average primary-resident home value of $768,000)


Average annual property tax increase for second-home owners (based on average secondary-resident home value of $923,254)


Year Treasure Hill bond would expire


Deadline for City Council to approve putting the bond on the November ballot

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