Frequently Asked Questions
Overview
Magleby Development | Established to combine the heritage of a 45-year old best-in-class construction company with a legacy of building Utah’s ultra-estates with cutting-edge, technology and wellness-based master planned communities. Magleby Development partners with developers, architects and interior designers to create luxury wellness communities in some of the most highly sought-after locations in Utah and Idaho.
Inc Design | 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.
Think Architecture | 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.
| Cabins: | 14 month delivery from start |
| Residences: | First Paired Homes complete Feb 2024. 16-18 month delivery from start |
| Estate Homes: | 24 month delivery from start |
| Adventure Center: | Estimated Delivery 25/26 Winter Season |
| Wellness Center: | Estimated Delivery 26/27 Winter Season |
| Velveare Chairlift: | Delivery for 25/26 Winter Season |
| Expanded Deer Valley® Resort Base: | First Delivery 24/25 Winter Season |
Adjacent to the new expanded Deer Valley® Resort, one ridge north of the new Extell Village and Portal. Secluded and away from hustle and bustle, but quickly accessible, just south of the Deer Valley® Gondola, and overlooking the Jordanelle Reservoir.
*2025 W Deer Hollow Road, Park City, Utah 84060
A chairlift is located directly within the Velvaere community, at the southern aspect of the property, adjacent to the Adventure Center.
Details
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 2,300 to 2,500 square feet; and nine paired home floor plans ranging in size from 3,100 to 5,500 square feet.
Buyers have the ability to choose from pre-selected interior design packages.
Exterior design is predetermined.
There are 35 estate lots ranging from .29 - 3.3 acres. Our estate lots offer ski in/ski out access, spectacular Jordanelle water views and up-mountain views. Buyers can choose their own builder and on their own timeline. Building with Magleby Development is an option but is not required. All estate homes approved by the Design Review Board.
Landscaping completion is seasonal. No trees or landscaping can be removed by owner, unless approved by the Design Review Board. Additional information can be found in the Velvaere CC&R’s.*
*Landscaping installation and maintenance is included and does not require additional fees.
Velvaere is working with an interior designer to create interior/exterior furnishing packages that can be purchased separately, at the option of the buyer.
*Furniture package could potentially be required by Rental management for seamless look for participation in rental program.
To ensure an immersive wellbeing experience, Velvære has enrolled with the International WELL Building Institute to pursue the WELL Certification under the WELL Building Standard, the world’s premier performance-based, third-party verified rating system focused on measuring, certifying and monitoring design and operation features of the built environment that impact human health and wellbeing to prevent chronic diseases by improving air, water and lighting qualities, nutrition, fitness, mood, sleep patterns and performance of its occupants.
Other 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.
See full list of proposed standard features & upgrade packages.
CONSTRUCTION PROCESS
Horizontal construction and excavation at the development began Fall 2021.
Vertical construction for the first phase of Paired Homes began October 2022.
The estimated plan for completion is 7-8 years.
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
The community at Velvaere will have its own HOA. The amenity centers will operate as one club and will be separate from the HOA.
Yes, owners and guests will have access to the amenity centers, via club membership. Renters will only have access to amenities for a fee if owner has joined on-site rental pool.
The estimated HOA dues for Paired Homes and Cabins are $1.34 per square foot annually (2024). 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 $250 per month (2024). Landscaping and exterior maintenance for Estate Homes will be a potential option through the HOA, but will not be required. 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 annually (2024). Club dues are separate.
Yes, Velaere is also under the umbrella of the Mountainside Village & Resort Master Association (Master Association), dues are estimated to be $50 annually (2024).
The estimated Club dues for residence owners are $1700 monthly.
All utilities including water, sewer, trash, gas, power, fiber, phone, internet, and cable TV service will be the responsibility of the homeowner.
At closing an amount equal to three months of a resident’s HOA dues will be collected and paid by the Buyer for the benefit of the HOA and deposited into the HOA’s working capital fund. This fee will aid in creating a start-up of operational funds for the HOA. This is not an advance payment of the regular monthly dues.
There is a Mountainside Village & Resort Master Association transfer fee of $10,000 for Cabins and Paired Homes, and Estate Homes, due at closing when buyer purchases directly from the developer. Upon resale, the Master Association transfer fee is 1.25% (subject to change anytime at Master Association’s discretion).
Up to 3 domestic pets will be allowed, per homeowner.
There will be an unmanned entrance and gate, it will not lock.
The private ski runs throughout Velvaere will be groomed by Velvaere HOA.
RENTAL AND PROPERTY MANAGEMENT
Cabins, 3 night minimum.
Paired Homes, 7 night minimum.
Estate homesites, 30 day minimum.
Placement of the property in the rental management program is not required.
This type of service will be offered.
For owners who would like to benefit from placing their units into the on-site rental management program, this will ensure smooth, high-quality service, and a consistency of brand and community for Velvaere, for the benefit of all owners. Renters will only have access to amenities, for a fee, if owner has joined on-site rental pool.
Owners are not required to use a specific property manager and if owner elects to use a third party property manager, renters will not have access to the club facilities.
*Information is subject to change
Summit Sotheby’s International Realty, Sales Team at Velvaere
Melissa Goff
435.602.6570
[email protected]