Park City wants to develop five acres at the intersection of Bonanza Drive and Kearns Boulevard into a new district with housing, commercial space and a new home for the Kimball Art Center.
In February the Park City Council put out a new request for development bids. The council revised its initial proposal to include a $30 million funding commitment. Previously the city had not specified how much it would contribute.
Park City Manager Matt Dias told KPCW that a committee of residents, city staff and other stakeholders would evaluate development proposals after the submission deadline earlier this month.
“I think we’re at an exciting moment,” Dias said on KPCW’s “Local News Hour” April 9. “Fingers and toes crossed that we’ll have a quality developer to move forward with once and for all.”
The committee will be scoring the proposals based on several criteria, including past work, alignment with the city’s vision and total cost, among other variables.
The Park City Council will interview the leading developers in a public meeting once the committee selects its two top proposals.
Dias said he hopes to do final interviews in May.
In her recent State of Park City address, Mayor Nann Worel challenged the city council to pick a developer for the five-acre project by June 1.
The site in the Bonanza Park neighborhood has an extensive history.
Park City purchased the property for $19 million in 2017, planning to build an arts and culture district with the Kimball Art Center and Sundance Institute as core tenants.
The Bonanza Park concept evolved to also include housing, parking and a transit center, but the project was put on hold when costs topped $100 million.
In 2024 Park City hit the reset button by collecting public input through online surveys and open houses. That feedback helped revise the proposal to reflect public support for a mixed-use area with retail, art and open space.
Sundance has not been involved in the recent phase of planning for the property. The nonprofit is relocating its annual film festival to Boulder, Colorado, in 2027.
Park City Municipal is a financial supporter of KPCW.
