A group of investors plan to begin construction soon on a new 3,000 acre, 3,000′ vertical ski resort just 30 minutes from Salt Lake City. Unlike at Utah’s 15 existing resorts, skiing at Wasatch Peaks Ranch will be reserved exclusively for investors and homeowners. The site lies 10 miles south of Snowbasin Resort near the community of Peterson. Wasatch Peaks recently tapped Bob Wheaton, former head of Deer Valley Resort to be President and CEO of the new venture. Past Deer Valley owner Lessing Stern is one of 10 investors with more being sought. Their plan includes building seven lifts, up to 750 housing units and two golf courses.
Private mountain resorts have a checkered history in the United States. The Yellowstone Club in Montana has grown to include 20 ski lifts and sold more than $1 billion worth of real estate. But others in the east such as the Hermitage Club, Plymouth Notch and Otsego Club are now either shut down or open as public areas.
Utah is unique in the West with large swaths of the Wasatch Mountains privately owned. Even public ski resorts like Deer Valley, Park City and Powder Mountain are located on private land, giving them more freedom to add lifts quickly and develop slopeside real estate. Wasatch Peaks plans to build in phases based on market demand and fundraising. Infrastructure construction is planned to begin next summer with the first phase of lifts following in 2021.