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Prince home gets final approval from appeal panel, demolition begins

Treasure Hill in Old Town, Park City.
Parker Malatesta
Treasure Hill in Old Town, Park City.

Park City’s appeal panel has signed off on the approval of billionaire Matthew Prince’s proposed home on Treasure Hill. Demolition on the property has already begun.

Prince’s 11,000-square-foot home has been the subject of sharp criticism from neighbors who say the structure doesn’t match Old Town’s character and could pose a landslide risk.

Several neighbors appealed the home’s approval, saying it violated local development rules. Park City’s three-member appeal panel rejected the neighbors' claim, but asked the planning commission to review a sensitive land boundary that could have prohibited development on part of the Prince property.

The commission determined the sensitive land overlay zone did not apply to the lot on King Road. Lawyer Adam Strachan, who chairs the appeal panel, finalized that decision Friday.

The appeal panel meeting scheduled for Monday, July 22, has since been canceled.

Next, the project will go through a historic district design review from planning department staff. A public hearing is scheduled for Aug. 15 at noon at City Hall.

The home plans include building more than 7,000 square feet of finished space, nearly 6,000 square feet of unfinished space along with a terrace, pool and a 4,000-square-foot underground parking area.

The property, owned by Matthew and Tatiana Prince, is on the upper portion of Treasure Hill, and in some areas has slopes exceeding 40%.

Land use attorney Bruce Baird, who is representing the Princes, expects a potential legal challenge of the home’s approval in Third District Court.

“The plan is to get approval for the detailed building permit plans as soon as possible,” Baird said. “The demolition is already underway… We expect to build it, I think primary construction would hopefully be next spring.”

Park City Municipal issued a demolition permit July 11 to remove the two existing structures on the property.

Baird said he expects the home’s construction to take around 18 months, meaning it could be complete by the end of 2026.

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