Park City narrows developer search for Bonanza Park project as public interviews approach

PARK CITY, Utah – Park City has named two finalists in its search for a developer to lead one of its most high-profile and long-anticipated redevelopment projects: a new mixed-use district at the intersection of Bonanza Drive and Kearns Boulevard.

The city has been working for years to reimagine the five-acre parcel into a hub for housing, commercial activity, and arts and culture, known as Bonanza Park. Now, after evaluating five development proposals submitted in response to a formal request earlier this year, a selection committee has chosen two development teams to advance to public interviews.

According to a city staff report, the finalists are Brinshore Development, a Chicago-area firm with recent experience delivering affordable housing projects in Salt Lake City, and a joint proposal from Utah-based firms Woodbury Corporation and Pinnacle Real Estate Development, whose portfolio includes the University of Utah Research Park and The Meadows, a shopping  area in American Fork.

The public will have a chance to hear directly from the developers during a special Park City Council meeting on May 14.

The renewed momentum follows a major shift earlier this year, when the Park City Council revised its initial request for proposals (RFP) to include a $30 million financial commitment—marking the first time the city has put a dollar figure on the table. According to Council member Ryan Dickey, the re-issued RFP also adjusted the number of affordable housing units required and the location of the Kimball Arts Center.

The updated RFP went out in February, with city leaders saying they hoped the financial backing would help attract high-quality bids and revive the stalled project. The original RFP was put out in September of 2024.

Park City Manager Matt Dias called it “an exciting moment” for the city, adding during an April interview on KPCW’s Local News Hour that the committee was looking for a developer that aligns with the city’s goals for affordability, sustainability, and vibrant placemaking.

The selection committee—comprised of residents, city staff, and other stakeholders—has been scoring proposals based on factors like cost, developer experience, and consistency with the city’s vision for the area.

Mayor Nann Worel said getting the project started is a big priority.  In her most recent State of Park City address, Worel challenged the council to select a development partner by June 1. If a preferred proposal emerges following next week’s public interviews, the city’s next step will be to begin negotiating a formal development agreement.

The Bonanza Park project has been years in the making. Park City purchased the property for $19 million in 2017 with plans to create an “arts and culture district” anchored by the Kimball Art Center. Over time, the vision expanded to include housing, parking, and a transit hub.