Park City Municipal announced Thursday it’s partnering with Illinois-based Brinshore Development to transform the five acres at the intersection of Bonanza Drive and Kearns Boulevard.
Brinshore secured the bid during the second round of the city’s request for proposals, or RFP, which outlined its desire to create a vibrant district with affordable housing, local retail, public space and a new home for the nonprofit Kimball Art Center.
Elected officials have attached a $30 million funding commitment towards the project.
“After years of public input, community engagement, and feasibility studies, Park City is considerably closer to seeing a major community investment in affordable housing, new cultural amenities, walkability, and local neighborhood vitality,” Park City Mayor Nann Worel said in a statement. “With the Brinshore team on board, we are excited to rely upon their expertise to take us from community engagement and feasibility to design, architecture, and construction.”
Brinshore has built over 11,000 housing units in over a dozen U.S. states. They recently completed The Aster on State Street in Salt Lake City and the SPARK Apartments in the city’s Fairpark neighborhood.
Park City officials believe Brinshore has demonstrated an ability to get projects over the finish line.
In May the company presented a preliminary concept to the city council with affordable housing, commercial space, underground parking and a linear “art walk” running through the middle of the property.
The proposed site also included a childcare center, coworking spaces, a gym and a stage for concerts.
At that time, Brinshore estimated the total project cost at around $120 million and said they intended to utilize low-income housing tax credits.
Officials with the firm also said they could begin a two-year construction period in March 2027.
But city leaders and Brinshore representatives will now go back to the drawing board to ensure the proposal meets the community’s desires.
The city said next steps will involve entering into an exclusive negotiating agreement with Brinshore, followed by a pre-development agreement that sets “performance expectations, timelines, and public benefits.”
The next phase will also include design, layout, density, and architectural refinements.
Brinshore is partnering with GTS Development Services, a local firm that assists municipalities to plan, design and develop. GTS was involved in previous iterations of the 5-acre Site and has "intimate knowledge" of the property, the city said.
The five-acre site in the Bonanza Park neighborhood has some history.
Park City purchased the property for $19 million in 2017 with the plan to build an arts and culture district with the Kimball Art Center and Sundance Institute as core tenants. The concept evolved to also include housing, parking and a transit center, but the project was put on hold when costs topped the $100 million mark.
In 2024 Park City hit the reset button. The city collected public input through online surveys and open houses. That feedback was then used to revise the proposal to reflect public support for a mixed-use area with housing, retail, art and open space.
The Sundance Institute was not involved in the second phase of planning for the site.
Park City Municipal is a financial supporter of KPCW.
