59-Unit Resort Development 90 Percent
Pre-Sold
PARK
CITY, Utah, Aug. 15,
2024 /PRNewswire/ -- Orion Real Estate Investment
& Development, a resort, mixed-use, urban and master-planned
communities developer, announced today it has closed a $45 million debt financing facility from Builders
Capital, the nation's largest private construction lender. The debt
facility will fund the completion of 59 new condos at The Mason, a
luxury condominium development in Park
City, Utah. Located across from the highly anticipated Deer
Valley® East Village and adjacent to Jordanelle Reservoir, The
Mason is 90 percent pre-sold and will be completed in winter
2025.
![The Mason, Park City, Utah The Mason, Park City, Utah](https://mma.prnewswire.com/media/2482804/The_Mason.jpg)
The Mason is designed by Salt Lake
City-based MJSA with New West Building Company as
general contractor, and exclusively represented by Berkshire
Hathaway HomeServices Utah Properties. It consists of the former
85-unit Lodge at Stillwater, which is undergoing a major
renovation, and two additional new buildings with 59 new condos.
Construction on the new buildings commenced last month. These
move-in ready, turnkey, fully furnished one-, two- and
three-bedroom condos will feature "Mountain Chic" interiors.
Residents enjoy beautiful views of the Jordanelle Reservoir and
Wasatch Mountains as well as high-end amenities, including an
owners' lounge, game room, remote workspace, fitness center,
outdoor pool, hot tubs, saunas, grills, firepit seating, bike
storage and ski lockers.
"We're thrilled to partner with Builders Capital to complete The
Mason," said Robert Huggins,
Managing Partner of Orion Real Estate Investment & Development.
"Our partnership will deliver beautifully designed and furnished
residences minutes from new mountain village, Deer Valley East
Village, and the expanding Deer Valley Resort, which will soon be
one of the biggest ski areas in the country. Residents will be at
the center of all the action with easy access to year-round outdoor
activities, walkable shops, restaurants and entertainment. The
desirability of The Mason is reflected in it being 90 percent
pre-sold with just a limited selection of one- and two-bedroom
condos remaining," he added.
Located at 1364 W. Still Water Drive in Mayflower Mountain, The
Mason is 35 minutes from Salt Lake
City International Airport and 3 minutes from Deer Valley
Resort for year-round activities, including skiing, hiking, biking,
water sports, golf, and more. The ski resort will expand to over
5,700 acres of ski terrain, add 16 new lifts and a 10-passenger
gondola. Deer Valley® East Village, a new, upscale, mountain
village featuring hotels including the Grand Hyatt Deer Valley, a
ski school, rental shop, retail, dining, entertainment, residences
and 1,200 new day skier parking spaces, will be a two-minute drive
from The Mason, just across the highway. A new underpass at U.S.
Route 40 offers a new entry point to Deer Valley easing traffic
congestion.
About Orion Real Estate Investment &
Development
Orion Real Estate Investment & Development,
headquartered in Jackson-Hole, WY,
has decades of collective experience in land acquisition,
entitlements, ground-up development and redevelopment across a
spectrum of product types including resort, urban, mixed-use, and
master planned communities. For more information, visit
https://www.orion-companies.com/.
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SOURCE Orion Real Estate Investment & Development