Many Parkites still refer to the building at the corner of Park Avenue and Kearns Boulevard as simply “The Yarrow,” the widely accepted name of the hotel there for decades.
It is now known as the DoubleTree by Hilton Hotel Park City – The Yarrow, and the future of the stalwart lodging option is expected to be of note in coming months as a major reworking of the property is debated.
The owner, a Chicago-based firm called Singerman Real Estate, is preparing plans to demolish the building and then redevelop the land with another lodging property. The project is notable with DoubleTree by Hilton Hotel Park City – The Yarrow being such a well-known element in the Park City lodging industry as well as with the location being so important at the intersection of two key roads.
The Singerman Real Estate concept for the land involves:
• Five distinct “building pods” that would be connected through a first floor that would be common to them all. An outdoor pool would be at the center.
• Four of the pods would offer rooms in a condominium hotel and conference space.
• One of the pods would be the location of restricted workforce housing.
• An underground parking garage.
• A restaurant with a rooftop bar.
• A path along Park Avenue and Kearns Boulevard separated from traffic by a greenbelt that would be included in the development.
• A gathering space described as a plaza.
• Retailers and restaurant space on the ground floor of the new building’s southern side.
• Publicly accessible grounds, such as landscaping and a pathway, covering 38% of the property.
There would be a combined approximately 17,000 square feet dedicated to restaurant, retail and office space.
Singerman Real Estate is touting the project as an early step in the expected redo of the Bonanza Park district as Park City leaders continue to craft a vision for a section of the community that has long been seen as ripe for significant public sector and private sector investment.
“The vision is to transform the Yarrow Hotel into the first redeveloped property in Bonanza Park, implementing a new standard for walkability, connectivity, livability, and inclusivity,” a release from the Chicago firm says.
Peter Tomai, a development partner with Singerman Real Estate, said the firm spent $10 million to renovate the property in 2014 before reaching the franchise agreement with the DoubleTree brand.
“Looking at, essentially, the opportunities for the site. The Yarrow, as we know it, has been a workhorse,” he said as he described the considerations that went into the decision to pursue a project that requires the demolition of the building.
He said the hotel has traditionally been “one of the best performing properties in Park City” when measured by year-round occupancy.
Tomai said the discussions about the future of Bonanza Park have influenced the concept from Singerman Real Estate. He said the firm wants to learn how it can “add vitality” to Bonanza Park. The replacement of the existing parking lots with a garage could advance the project and the overall district, he described, since they are so close to the lots at Holiday Village. There is a “ton of asphalt” in the immediate area, he said.
“I think it serves as a catalyst,” he said about the project’s potential impact as the broader vision for Bonanza Park advances.
The project calls for a 174-unit condominium hotel and 60 units of restricted housing. The development would appear from street level as if it is spread through five buildings, but it would instead be one building connected at the ground level and through the garage. Tomai noted there are expected to be full-time residents living in the project as he described the hopes for vibrancy at the location. He said the designs incorporate what he considers to be a “greenbelt” separating the planned building from the roads.
The development team has scheduled an open house to introduce the project on Tuesday. It is scheduled from 5 to 7 p.m. in the ballroom of the DoubleTree by Hilton Hotel Park City – The Yarrow, 1800 Park Ave. Presentations are planned at 5:30 p.m. and will be given again at 6:30 p.m.