New York’s Extell Development Co has secured a $600 million construction loan, a milestone in creating the Four Seasons Resort and Residences Deer Valley. Nestled in Deer Valley East Village, Utah, this marks the first luxury alpine village in North America in over 40 years. Financed by JVP Management, the deal stands out as Utah’s largest-ever hotel-and-condo construction loan. This powerhouse financing underscores the confidence both firms have in the Four Seasons brand and the future of mountain living.
Sales Success Fuels Construction
Construction kicked off this spring after nearly 40% of the inventory was sold, and the project has a target completion in 2028. Delivering one- to six-bedroom homes, ranging from cozy 1,200 sq ft ski-in/ski-out units to sprawling 7,000 sq ft estates, residents get seamless access to the slopes. The 55 condos atop the hotel alone are already 60% sold, alongside 68 private residences offering ultra-luxury amenities. In short, early demand is promising, and move-in excitement is building.
World-Class Design, Year-Round Recreation
Designed by ODA Architecture, the resort fits perfectly in Deer Valley’s scenery, blending mountain elegance with everyday comfort. Guests and residents can look forward to a true mountain-living experience: spa-like wellness centers and on-mountain dining. Additionally, cozy ski-in lounges, and hiking or biking over 50 miles of trails. Moreover, the 2025/2026 ski season will introduce Deer Valley East Village’s expansion, 10 new chairlifts and 100 runs, doubling ski terrain to over 5,726 acres served by 37 lifts across 238 runs.
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A Confident Path Forward
Anthony Shaskus of JVP praised the partnership, calling it a “landmark development,” backed by a longstanding relationship with Gary Barnett and Extell. Barnett himself noted that the loan signals the market’s faith in both Four Seasons and Deer Valley East Village, setting the stage for the ski expansion’s grand opening next winter. As Extell builds on its reputation, from New York’s Billionaires’ Row to Vail and Park City, the Deer Valley project shines as its next chapter in luxury, community-driven hospitality.
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Project Overview
Project Name: Four Seasons Resort and Residences Deer Valley
Developer: Extell Development Company (NY-based) in partnership with Four Seasons Hotels & Resorts
Location: Deer Valley East Village, Park City, Utah, about 40 minutes from Salt Lake City International Airport
Funding & Timeline
Loan Closed: $600 million construction financing from JVP Management, Utah’s largest hotel/condo construction loan
Construction Start: Spring 2025
Expected Completion: 2028
Accommodations & Sales
Residential Units: Total of 123 private residences (1–6 bedrooms, 1,200–7,000 sq ft)
55 units sit atop the hotel (60% pre‑sold)
68 units in a separate residential building
Hotel Component: 134 guest rooms and suites
