Park City Council to review major land exchange proposal with Redus Park City LLC

A map showing the parcels in a proposal for a land exchange between Park City Municipal Corporation and Redus Park City, LLC. Photo: Redus Park City LLC

PARK CITY, Utah — The Park City Council is set to consider a major land exchange proposal from Redus Park City, LLC that could significantly impact open space, recreation, and development in the area. The proposal involves a potential property transfer of approximately 310 acres to Park City Municipal Corporation (PCMC) in exchange for amendments to the city’s existing development agreement with Redus.

Redus Park City LLC was created by Wells Fargo and has been involved with several other important land transactions in Park City, including the 2017 sale of Bonanza Flats to PCMC for $38M. They also sold Tuhaye, a 2,000-acre community on the Jordanelle Reservoir, to Storied Development, LLC and they requested approval for a mixed-use development on Keetley Ridge, located in Deer Valley’s new East Village expansion.

What’s on the table?
Redus is proposing to transfer parcels of land to the city, including areas zoned for estate, residential, and recreation use, as well as trailheads at Empire Pass, Mid-Mountain, and Daly. This move would give the city control over development activities on these lands while ensuring that much of it remains open, protected, and accessible to the public, a city staff report said.

Additionally, the proposal includes water rights and interests owned by Redus, namely the right of first refusal for water from the Spiro Tunnel. It may also address water impact fees and incorporate funding for historic preservation projects.

In exchange, Redus is seeking city approval to build three single-family homes near a city-owned water tank and four multi-family units in a nearby development zone.

Historic preservation and environmental considerations
The exchange would transfer ownership of several historic mining structures, such as the Judge Tunnel/Alliance Mine Complex. However, due to potential environmental liabilities, some sections of land, including areas near the Silver King Mine and Daly Canyon, would not be acquired by the city.

Why it matters
If approved, city staff said the proposal would enhance Park City’s ability to manage and expand its recreational offerings. By acquiring key trailheads and recreation areas, the city could strengthen its mountain biking and hiking trail network while preserving critical open space.

“This acquisition would allow Park City to better integrate prime recreation land into its trail system and ensure long-term access and environmental stewardship,” city officials noted in the proposal.

Next Steps
The City Council must first authorize the mayor to sign a non-binding Letter of Intent (LOI) with Redus. This would allow Redus to include city-owned properties in its application to the Planning Department for amendments to the DA.

Public hearings and further evaluations, including due diligence on environmental and entitlement issues, will follow. Any amendments to the DA require approval by the Planning Commission and the City Council, ensuring full public input and transparency.

The proposal will be discussed at the City Council’s meeting scheduled for Jan. 16 at the Marsac Building in Park City.