Hot Off the Press - Collections Summer Edition

By Bill Ligety
Jun 26, 2019

Take a peek at elevated Utah perspectives as well as current properties offered by our brokerage in the newest edition of Collections. Here in Park City, people say they come for the winter, but stay for the summer. Thanks to the multiple talents of our in-house advertising agency, we are forging ahead to create a tradition of the extraordinary. Click here to view the digital magazine.

Promontory Announces Plans For New Clubhouse

By Bill Ligety
Mar 28, 2014

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PROMONTORY IS PLEASED TO ANNOUNCE THE GROUND BREAKING OF  THE JACK NICKLAUS GOLF COURSE CLUBHOUSE!

THE CLUBHOUSE HAS BEEN DESIGNED BY JOHN E. SATHER

 CONSTRUCTION WILL COMMENCE IN SPRING OF 2014

THE COMMUNITY LOOKS FORWARD TO OPENING THE EXTRAORDINARY NEW GOLF CLUBHOUSE FOR THE 2015 GOLF SEASON.

Promontory Offering End Of Season Homesite Sale

By Bill Ligety
Sep 20, 2013

Rich Sontag, Managing Director at Promontory spoke at our weekly sales meeting on Tuesday about their active real estate market and introduced a new homesite release. In 2013 there has been 21 homes sales and nine homes are currently pended, along with 28 homesite sales and eight homesites pended. The average price of the closed homes has been $350 a square foot. According to Sontag, " the value phase on the resale inventory at Promontory has ended".

Over the years approximately 800 homesites have sold in Promontory but there are some parcels that remain. The Developer is releasing  for a limited time 25 select homesites at special pricing ($195,000 t0 $333,333)  in the Palisades and Northgate sub-divisions. These homesites include a fully sponsored  Promontory Club Membership valued at $150,000.  Indication of Interest Reservation Holders will be considered a priority and become "Prospective Members" who are eligible to review the offerings in advance and purchase a specially priced Release Homesite during the Selection Period prior to these homesites being offered at these prices to the general public. There will also be additional benefits for the Indication of Interest Reservation Holders. To arrange for "Prospective Member" status, one must complete a Non-Binding Indication of Interest Reservation Agreement with a $1,000 deposit which is fully refundable any time you choose to cancel.  The public Selection Event is October 5th, so if you have any interest you should act now to receive the best pricing including an additional 5% discount if you buy during the Preview Period.

For further information please contact Mary Leader at mary@ligety.com.

Promontory Update

By Bill Ligety
Jun 05, 2013

Prudential Utah agents had their weekly sales meeting at Promontory on Tuesday. Managing Director, Rich Sontag shared very positve real estate figures as well as improvements and changes currently underway at Promontory.

  • Club Membership: There are two catagories of Club Membership at Promontory; "Social" which includes all amenities except golf and equestrian and "Full Club" which includes all amenities except equestrian.  Membership is tied to ownerhip of property at Promontory and will now include the owner/member, his/their children and the owner/member's parents, therefore making Promontory Club truly multi-generational.
  • Physical Improvements: Promontory is currently planting 1,400 Evergreens and Aspens at a cost of $1 million throughout the development. A dog park is under consideration; location to be determined. A $500,000 renovation of the Club House and a remodel of the Pool Cafe are underway and a new swimming pool shall be built by the tennis courts and is scheduled to be completed by next summer.
  • HOA: The HOA is very healthy and has $2 million in reserves.
  • Real Estate: Current inventory of homes in Promontory is now trading at above replacement cost. This had not been the case the last several years. According to Sontag, it now makes sense to purchase a homesite and build.
  • Limited Special Release of Homesites: Promontory has just introduced a new release of homesites called The Private Collection. This collection includes 19 homesites ranging in size from .88  to 7.07 acres.  The price range is from $395,000 for a 1.40 acre treed parcel in the Aspen Crest neighborhood to a fabulous 1.27 acre parcel on the golf course for $725,000 in Promontory Ridge. Special pricing for properties in The Private Collection applies to contracts executed prior July 31, 2013. Buyers may receive a Fully Sponsored (no out of pocket) Full or Social membership with these selected homesites; dues payment must commence on issuance or the Buyer may chose to defer issuance of this membership for up to 2 years. If membership is issued upon closing, Buyer will be eligible for $2,500 in Club credits (Food & Beverage and Soft Goods).
  •  Dye Course Cabins Limited Special Release: The Private Collection also includes a release of six Dye Course Cabins located within walking distance of Promontory's Outfitters Cabin. Three different floorplans range in size from 3,300 to 4,500 square feet. Private Collection pricing ranges from $1,470,000 to $1,805,000 and is available on contracts executed prior to July 31, 2013.
For additonal information on The Private Collection at Promontory, please contact Mary Leader at mary@ligety.com

 
 
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