On Tuesday, the Park City Council is considering up to $25 million in economic development revenue bonds that developer Echo Hills Development is seeking for an apartment complex at the former Echo Hills Golf Course, which was on 87 acres at the northwest corner of Interstate 135 and 53rd Street North.
The council also will consider up to 10 years in tax abatement.
Developer Mike Loveland is a minority partner in the development.
“He has come to us before already and asked about it,” says Park City administrator Jack Whitson.
“This is the next step. We have to have a public hearing.”
The property is the same place where some other developers are working on an outlet mall.
“We’re going to incorporate the apartments into the hilly terrain on the western edge of the property,” Loveland says.
Whitson says the council “will review the cost-benefit analysis, which also will go to the state Board of Tax Appeals, because they can still kill the thing if they so choose.”
The 232-unit complex will be 206,048 square feet with 116 one-bedroom units, 106 two-bedroom units and 10 three-bedroom units.
There will be covered parking as well, including 58 garages and 59 carports, along with a clubhouse, pool and fitness center. There’s also an existing pond that the developers will rebuild.
“This is just the early part of the process,” Loveland says.
He says plans aren’t finalized yet, and construction won’t start until next year.
“It’ll probably be late spring.”