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Tech billionaire gets preliminary approval to build home above Park City’s Old Town

A rendering of the proposed home on Treasure Hill.
Park City Municipal
A rendering of the proposed home on Treasure Hill from Oct. 2023.

Matthew and Tatiana Prince, owners of The Park Record, now have preliminary approval to build a large home on Treasure Hill that will overlook downtown Park City.

In a 4-2 vote, the Park City Planning Commission granted the Princes’ request to change rules pertaining to their property on King Road. The commission was split 3-3 over whether to grant the two conditional use permits for the home. Commission Chair Sarah Hall broke the tie, voting in favor of the Princes’ plans following roughly four hours of discussion.

The home plans include a 117-foot roof, over 7,000 square feet of finished space, and nearly 6,000 square feet of unfinished area. The total height is 4.5 stories, with two levels below the ground considered basements. The project is subject to dark sky light pollution regulations and must go through a historic district design review.

The commission is expected to take action on the final conditions of approval for the home next week Feb. 21.

Tatiana Prince said they’ve worked on the home’s design for years in collaboration with their neighbors.

“We’re really pleased that we’ve come to a point where so many of them have taken the time to write in in support of what we’re trying to do here,” Prince said. “Many of them actually sort of inspired us and had a lot of input into what we hope to put down as our roots here for our family.”

Over a dozen people spoke during a public hearing. Opinions were split.

Eric Herman, who lives next door to the Prince property, praised the home’s architectural design but said it didn't fit with the neighborhood.

Herman said when he and his wife approached the city with renovation plans years ago, they were forced to comply with city code.

“As citizens, we all agreed to restrict ourselves for the common good,” Herman said. “We all abide by laws and regulations. The Old Town building code maintains Old Town’s unique character

Outside of the Hermans and one other property owner, the Princes said they had the endorsement of their immediate neighbors, including Ben Dahl, who called the house “inspiring” Wednesday.

That was echoed by local Sue Barsamian, who frequently walks the Treasure Hill area.

“I find this to be a really refreshing design,” Barsamian said. “A nice combination of modern with a real homage to Park City’s mining history.”

The project also has the support of the Sweeneys, who helped craft the rules governing Treasure Hill.

Former Park City Councilmember Tina Lewis also helped write those laws. She didn’t offer an opinion about the Prince home Wednesday, but rather spoke to the importance of the commission’s role.

“Your responsibility is to make sure that anyone who walks through these doors and wants to add something or change something to our town respects our code, our rules, our vision,” Lewis said. “You are the gatekeepers. We all live with the consequences of our actions. Park City lives with the consequences of your actions.”

Commissioners Laura Suesser and Henry Sigg were the most critical of the project, saying it didn’t fit with Old Town’s historic character.

Last year the Princes hired a lobbyist and attempted to insert bill language during the Utah Legislative session to subvert the local planning process so they could build the home. City Hall was critical of the efforts, which were ultimately unsuccessful.

Matthew Prince is the founder and CEO of Cloudflare, a cybersecurity company. Forbes estimates his net worth to be $3.7 billion.

Corrected: February 15, 2024 at 8:56 PM MST
A quote from Eric Herrman with inaccuracies that was later corrected by Park City planning staff was removed.