Bonanza Park Redevelopment Update
One of the most interesting pieces of land in Park City is finally moving forward. The city owns a five-acre site in Bonanza Park, right at the intersection of Bonanza Drive and Kearns Boulevard, purchased back in 2017 for $19.5 million. The original vision was an arts and culture district anchored by the Kimball Art Center and the Sundance Institute.
Seven years later, progress has been slow. Questions about whether an arts district could truly sustain itself, plus the disruption of the pandemic, kept the project largely on paper. Now the city is pivoting to a broader mixed-use vision — and that's a big deal for this part of town.
The new vision
City leaders now see the site as a potential hub combining housing (including affordable units), commercial space, and community-centered elements — with a new home for the Kimball Art Center still in the plan. The city has issued a formal request for proposals asking developers for concrete details:
- Proposed building designs, square footage, and use types — residential, retail, office
- Renderings showing layout, roads, and pedestrian infrastructure
- Affordable housing unit counts and parking estimates
- Economic forecasts, including tax revenue and spillover activity
The city is also emphasizing connectivity — pedestrian-friendly infrastructure, public transit access, green space, and a central gathering place for events — along with sustainability measures like underground parking and green building design.
Why it matters
This intersection is one of the key crossroads in Park City. Whatever gets built here will influence how the surrounding area grows for decades, which is why the Planning Commission is expected to spend serious time reviewing proposals. Developers have until November 6th to submit, and by then the city should have a much clearer picture of what's possible on this prime piece of real estate.
I'll keep following this one closely — redevelopment at this scale inside the city limits is rare, and it will ripple into property values in the neighborhoods around it.
Thinking about buying, selling, or investing in Park City? Reach out anytime — call or text (801) 837-4445.