Prince of Park City buys Town Lift Plaza

In an interview with KPCW, Prince said he hopes to eventually buy Park City Mountain from Vail Resorts, despite an initial rejection.

PARK CITY, Utah — Matthew Prince, billionaire co-founder and CEO of Cloudflare (NYSE: NET) and a Park City resident, has finalized a deal to acquire the Town Lift Plaza and surrounding properties in Old Town for an undisclosed sum, according to a report by The Park Record, a newspaper Prince and his wife own.

The acquisition, announced late Friday afternoon from the Sweeney family’s Brothers III LLC, includes key commercial spaces and retail frontage on Main Street, the Park City Mountain ticket plaza, a majority of the garage parking, and the Town Lift Plaza deck. The property was listed in November for $27 million, though the terms of the final sale remain undisclosed, according to The Park Record.

Prince said the purchase positions him to support revitalization efforts along Main Street. “We want Main Street to be the center of Park City,” he told The Park Record.

In an interview with KPCW, Prince said he hopes to eventually buy Park City Mountain from Vail Resorts, despite an initial rejection. “I reached out and that offer still stands, and it would not be hard,” he told KPCW. “Local owners really matter.”

He also expressed interest in upgrading the existing Town Lift, proposing a future gondola that could connect Main Street to Solitude and Alta.

Park City Mountain did not respond for comment at time of press.

With an estimated net worth of $5 billion, Prince emphasized that profit is not his motive. “I just want to serve this community,” he said to KPCW.

The acquisition comes amid ongoing city discussions about improving public spaces in the Main Street core. Prince has previously voiced support for those efforts.

Prince is also in court with Park City Municipal over his plans to build a new home on King Road that does not conform to current historic district zoning regulations.