Frequently Asked Questions
Overview
Velvaere is a gated ski-in, ski-out community set within the new terrain of Deer Valley® Resort’s East Village. Private membership affords access to an integrative wellness center offering best-
in-class modalities and cutting-edge technology, and a family adventure hub with an expansive ski beach and year-round family fun.
Velvaere’s extensive ski terrain and amenities are seamlessly interlaced with 115 private residences, with a variety of ownership opportunities for the discerning buyer.
Velvaere includes 115 available properties that will be released in phases - 12 Cabins, 68 Paired Homes, and 35 Estate Lots.
Yes. We are open 7 days a week from 12-5 pm, and by appointment. Our real estate team can arrange for a virtual tour if you are not able to visit in person.
Velvaere is owned by IEG Pioche, LLC and managed by Pioche Partners, LLC. Both are special purpose entities formed in Utah for the purpose of executing the Velvaere community. This team has collectively been involved in entitlement, capitalization, construction, marketing, and sales of numerous successful ventures and is well known for a concept through completion approach to the community development business.
The development partners include Magleby Construction’s Chad Magleby. Magleby Construction is a thriving multigenerational high-end home and community builder active in both Utah and Idaho (www.maglebyconstruction.com).
Also of significant note is the management integration of VP Companies, Inc. (www.vpcompanies.com/) based in Sun Valley, Idaho. VP’s David Hutchinson sits on the Velvaere Executive Committee. VP specializes in mixed-use amenity-driven communities in the western US. VP is also both a principal and the ongoing Asset Manager of Zenergy Health Club and Spa in Sun Valley, ID. (www.zenergysv.com).
Absolutely. The developer has contributed significant equity capital through the ownership group and through Toba Capital, an affiliated family office partner. One of the nation’s largest single-member investment houses with over $3 Billion in assets under management, Toba was founded by Vinny Smith, a renowned entrepreneur, investor and philanthropist.
In addition to a focus on real estate and lifestyle amenities, fifty percent of Toba’s annual profits have been committed towards addressing humanity’s unsustainable impact on the planet. The executive team at Toba is a hands-on collaborative partner.
Details
Think Architecture is a diversified architecture, landscape architecture, land planning and construction management services firm created with the aspiration to work in collaboration with project owners, public officials, and related engineering professionals to deliver creative, innovative, and visionary projects for an ever-expanding range of building applications.
John Shirley, a principal with Think Architecture, has designed multiple Park City/Deer Valley area projects including the Chateaux at Deer Valley, Hotel Park City, Silver Star and most recently the highly successful Stein Eriksen Residences. (www.thinkaec.com).
Inc Design is an open source, multi-disciplinary, architecture and design studio, with experience in a wide range of project types from big to small that specializes in the integration of the design disciplines. A tripartite leadership structure guides projects from conception to completion and balances the three essential elements of successful design: joy, utility and craft.
At INC to lead is to listen and thus each project is a unique portrait imbued with the aspirations of their clientele. Based in New York, INC works globally and takes a global view by implementing environmental best practices naturally. (www.inc.nyc).
Velvaere has encouraged and is attracting architects and builders that are prominent in well-known western resort communities as well as more locally from Salt Lake City, Park City and Deer Valley to execute custom homes on our thirty-five estate homesites.
The unique location adjacent to the new Deer Valley East Village, the cutting-edge amenities, community wellness integration, the ski lift into Deer Valley, and the ski-in/ski out proximity Velvaere enjoys is attracting many best-in-class homebuilders and architects.
Velvaere includes 115 available properties and will be released in phases - 12 Cabins , 68 Paired Homes, and 35 Estate Lots.
There are two cabin floor plans ranging in size from 2,500 to 3,400 square feet; and nine paired home floor plans ranging in size from 3,089 to 5,505 square feet.
Each paired home is uniquely placed on a specific parcel within the project, and the cabins are all adjacent to the wellness club amenity. Buyers have the ability to choose from pre-selected interior design packages.
There are 35 estate lots ranging from .29 - 3.3 acres. Many of our estate lots offer ski in/ski out access, spectacular Jordanelle water views and up-mountain views. All estate homes must be thoughtfully designed and approved by the Design Review Committee.
Innovative partners include Delos - a leader in science-backed solutions for healthier indoor spaces. Delos uses an evidence-based approach to identify and vet best-in-class wellness solutions such as advanced air purification, water filtration, circadian lighting and enhanced sleep solutions, helping transform the entire experience of a healthier home.
Designed to bring wellness into the home, Velvaere’s residential offerings include Ketra Full Spectrum Human-Centric Lighting, integrated air purification and humidification, indoor air quality sensors, water filtration and softener, and an open sanctuary flex space that can be customized per each Buyer’s preferences.
Sanctuary space options include but are not limited to inclusion of dry sauna, steam room, cold plunge, and personalized massage space. As an alternative, a golf simulator package is available.
CONSTRUCTION PROCESS
Horizontal construction and excavation at the development began Fall 2021. Vertical construction for the first phase of Paired Residences began October 2022.
The builder will allow three scheduled walk-throughs of the Cabins and Paired Homes during the construction process. Walkthroughs during construction must be scheduled in advance, and will require a member of the construction team and the seller’s agent to conduct the walk-through. Visitors must wear long pants, closed-toe shoes, and the appropriate safety gear provided by Magleby Development upon a site visit. Prospective purchasers and their guests may not enter the site unattended.
HOA & club velvaere
Deer Valley®’s onsite chairlift is located at the south end of the property of Velvaere, adjacent to the Adventure Center.
Deer Valley® Resort will groom the resort expansion runs, while all private connector ski runs and cat tracks in Velvaere will be maintained by the Velvaere HOA.
Yes, as Members of the club, owners and their guests will have access to the Wellness and Adventure Centers. Renters staying in residential units will also have access to the amenity centers, subject to Club documentation and the payment of a guest Club use fee.
Buyers of all Cabins, Paired Residences, and Estate Lots are required to be members of Club Velvaere, with the developer currently sponsoring the $50,000 initiation fee. Club Velvaere will have no outside members.
The estimated Club dues for residence owners are $1,700 monthly and afford unrestricted access to Club Velvaere’s Wellness and Adventure Centers. The Wellness Center offers industry-leading technology and one-of-a-kind transformative wellness experiences. Members will have access to treatments that may include cryotherapy, hyperbarics, LightStem LED, thermal and contrast bathing, yoga, and more. They will also have access to traditional fitness facilities and outdoor lap swimming.
The Adventure Center will be Velvaere’s ski hub, including an expansive ski beach adjacent to the onsite ski lift. It will also feature a restaurant, games and activities, a family-friendly outdoor pool, hot tub and fire pit.
Dues increases will be limited to no more than 10% a year, and members will not be subject to assessment for capital improvements or operational expense.
The estimated HOA dues for Paired Residences and Cabins are $430 per month (2025). The HOA dues will cover landscaping maintenance, basic exterior home maintenance, common area maintenance, common area insurance, and contributions to the HOA reserve fund.
The estimated HOA dues for Estate Homesites are $280 per month (2024). Maintenance of Velvaere community streets and roadways, including street snow removal, will be covered through owner’s property taxes by way of the MIDA Mountain Village Public Infrastructure District, estimated to be $1000 per unit annually.
Yes. Velvaere is under the umbrella of the Mountainside Village & Resort Master Association (Master Association), with annual dues are estimated at $50.
Yes, there is a Master Association transfer fee of $10,000 due at the initial purchase closing. Upon resale, the Master Association transfer fee is 1.25%, paid for by the new buyer.
Yes, three domestic pets are allowed.
Yes, there will be a private gate at the entrance, manned 24-hours-a-day, with additional regular security tours of the property.
RENTAL AND PROPERTY MANAGEMENT
Yes, Cabin rentals are allowed with a 3-night minimum, Paired Homes with a 7-night minimum, and Estate homes with a 30-night minimum.
Placement of the property in the rental management program is not required.
For owners who would like to benefit from placing their units into the HOA-preferred rental management program, this will ensure smooth, high-quality service, and consistency of brand and community for Velvaere, for the benefit of all owners. That said, owners are not required to use any specific property manager.
All information is subject to change.
For more details, please contact our Sales Team today or call 435-602-6570.
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