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Park City TV

Recycle Utah’s Recyclers of the Year



Recycle Utah announced the winners of its prestigious Recycler of the Year Awards at the community recycling center’s annual meeting and awards party on Tuesday evening, November 18th. Park City 333 Main Development LLC, owners of “The Mall,” have won Recycler of the Year in the business category, the Snyderville Basin Special Recreation District had won Recycler of the Year in the government category, and Rodney Scott , Snow Park Lodge Food & Beverage Services Crew Leader, Deer Valley Resort, has won Recycler of the Year in the Individual category. Twenty business tenants in The Mall at 333 Main Street recycle all their business and customer-generated materials in a comprehensive recycling center located in the basement of The Mall. The service is provided free of charge. “No tenant’s rent or association fees for common area maintenance went up as a result of this added service, “ said Scott Graves, Mall Facilities Manager. “As a company, we didn’t see that the cost of recycling made much difference to the bottom line compared to doing the right thing. According to Stu Nachlas, owner of The Green Machine that recycles all the commodities, tenants recycled 17 tons of cardboard, 14 tons of glass, 3 tons of paper, 2 tons of plastic, 1000 pounds of metal, 750 pounds of aluminum, 300 pounds of Styrofoam 75 printer cartridges, 60 pounds of light bulbs, and 150 batteries. “These numbers are admirable and go a long way to show the commitment of Main Street businesses to the environment and to keeping recyclables out of our landfills,” said Insa Riepen, Executive Director of Recycle Utah. The Snyderville Basin Special Recreation District (SBSRD) established a sustainability team to implement measures designed to reduce costs, save energy and recover resources. In discussing their initiatives, maintenance superintendant Paul Caine said, “We have raised our standards because we know we are living in an area that has high standards.” The SBSRD has purchased 163 blocks of wind power from Rocky Mountain Power. Timers and motion sensors have been installed on exterior lighting and rest room lighting. The District, which maintains athletic fields, recreation trails and landscaped areas, composts green waste, uses native plants, has installed smart watering systems and switched to organic fertilizers and contaminant-free bark for playgrounds. In buildings the SBSRD uses recycled content paper towels, office paper and carpeting made from recycled material. Recycling has expanded from the office to competitive events such as the Girls’ Softball Tournament. The Recycler of the Year award also goes to an individual who has exhibited truly admirable devotion to sustainable practices. Recycle Utah honored Rodney Scott for his tireless work implementing and improving Deer Valley Resort’s recycling program. “Rodney Scott has been instrumental in making the partnership between Deer Valley and Recycle Utah successful,” said Shannon Beglin, Operations Director of Recycle Utah. In the past year, Rodney and his crew have delivered about 50 tons of recyclables to Recycle Utah. “Rodney is always positive and looks for ways to make the recycling effort run more smoothly,” said Julie Kalar, assistant to the president. “Deer Valley is proud to have Rodney on its team.” Recycle Utah’s Educator of the Year was awarded to two teachers. Kerry Lambert, Science Teacher at the South Summit Middle School, has been instrumental in helping the nonprofit to develop 7th and 8th grade lesson plans in advanced recycling and wind power. He spearheads the classroom recycling program at the school. Treasure Mountain Middle School teacher Meghan Zarnetske won Educator of the Year for inspiring students to make presentations on recycling and for starting a Green Team at the school. Recycle Utah members elected four new members to its Board of Trustees. Linda Karz, a master gardener and staff member of the Green Building Center, was elected to a three-year term. Sean Wharton was elected to a one-year term. As owner of the Gateway Grill in Kamas, Wharton has founded The Happy Pigs program, a food waste recycling program that turns restaurant waste into nutrition for pigs. Julie Kalar, assistant to the president at Deer Valley Resort, was elected to a one-year term. She has advised Recycle Utah on partnership operations with the resort’s recycling program. Duane Schmidt, mayor of Coalville and principal of the Humpty Dumpster waste hauling firm, was also elected to a one-year term.

Utah CEO

Spotlight: Stan Castleton Founder and CEO DDRM Companies



There’s a fireplace mantel in the model guest room that’s been rebuilt 30 times over the course of a year, each time with a new style of stone. It’s still not just right. There’s a mirror in the bathroom — custom-made so the TV behind it is visible when on, invisible when off — that’s been changed three times. It’s part of a vanity that’s taken at least 100 hours to design. The kitchen is built like a ship’s galley — compact, efficient, elegant. The oven has a flip-out control panel; the microwave slides in and out of a cabinet at the touch of a button. It’s the kind of attention to detail required by Utah’s first five-star resort, the $250 million St. Regis Resort & Residences, Deer Crest, near Deer Valley. The man paying all that attention is Stan Castleton. “I’ve sort of been cursed with a love for the hospitality business,” says Castleton, who is thankful for the influence of his contractor dad. “You learn over the years that attention to detail is part of the way to be successful.” He named his company for his children — David, Debbie, Rachel, Mary — but the initials also stand for Design, Development, Research and Management of luxury resorts. Castleton is low-key for a man who oversees a development portfolio worth more than $2 billion. He wears corduroys and a blazer, his is voice quiet and his demeanor modest — unsurprising for a boy from Centerville whose father attained wisdom through hard work. The younger Castleton himself works upward of 80 hours and six days a week. Castleton became involved with the St. Regis in 2004, after three previous developers failed to get the project off the ground. He says the upfront work is the toughest. “You can’t be changing your mind during construction,” he says. Outside is the North American ski industry’s only funicular — sort of a ground-based gondola. Skiers will have a “ski beach” with multilevel pools and the requisite hot tub. Inside will be Utah’s largest spa and a giant bronze fireplace. “The service level here will be ridiculous, over the top,” says Castleton.


St. Regis Deer Crest Brings Five-Stars to Park City


By Laura Malesich Park City, Utah is already known for fantastic skiing and deep-blue skies but lacked five-star status with a premiere resort within reach — until now. A new addition to the Park City area, St. Regis Deer Crest brings 26 private residences, 67 condominium hotel suites, and 180 luxury guest rooms and suites with all the expected quality of other St. Regis resorts around the world. It sits just 30-minutes from the Salt Lake International Airport for easy access and only one mile from Old Town Park City plus the resort is conveniently located between three world-class ski resorts for winter sport enthusiasts as well as Jordanelle Lake and State Park for year-round exploration.

USA Today

Resort Developers Discovering Utah’s Attraction



By Debbie Hummel, Associated Press A super-luxe influx of high-end resorts is springing up near Utah’s accessible ski slopes and otherworldly red rock spires. The luxury accommodations are putting Park City ahead of Aspen and Sun Valley in resort real estate sales and will increase one southern Utah county’s assessed property values by 20%. “It’s no longer a secret,” said Stan Castleton, the developer of the St. Regis Resort and Residences at Deer Crest in Park City. Castleton said when the development of 26 large condominiums on the top four floors — dubbed private residences — and 67 condo suites is completed in late 2008, it will be one of the fanciest hotels in the state, featuring butler service, a high-end spa, and ski-in, ski-out access. “I think that the transformation of the Park City area has clearly happened,” Castleton said. “It’s a huge bargain compared to those other places, with much better access. You can get on a plane in the morning and be on the slopes by the afternoon.” Prices for the St. Regis Deer Crest range from $1.5 million to $4.3 million for condo suites and $2.5 million to $8 million for the residences. In recent years Park City, which is about 25 miles east of Salt Lake City, has surpassed other Western resort towns in the number of property units sold and exceeded the volume sold in dollars, but has remained sixth in average sales price, according to numbers from The Rocky Mountain Resort Alliance. The alliance was founded about 10 years ago and tracks real estate sales in resort towns in Utah, Colorado, Wyoming, Idaho and British Columbia, said Betty Brown, board president for the Park City Board of Realtors. In the first quarter of 2006, Park City had 743 units sold, higher than the 100 in Aspen, Colo., the 180 in Sun Valley, Idaho, and the 674 in Summit County, Colo., home to Breckenridge, Copper Mountain, Arapahoe Basin and Keystone resorts. But the average sales price is $731,772 — lower than Telluride, Colo., Teton Village, Wyo., Vail, Colo., Sun Valley and Whistler, British Columbia. A luxury home that would cost $1.7 million in Park City would cost $2.7 million in Aspen, Brown said. “We are not just a perceived value compared to the other resorts, we are a value,” Brown said. She said Park City’s popularity has grown as resort buyers became aware of the amenities surrounding the city’s three ski resorts, which are located less than an hour’s drive from Salt Lake City International Airport. “We were discovered by many, many, many, many buyers at about the same time,” Brown said. “I think our product has increased to satisfy those who want the higher end.” Park City isn’t the only area seeing an increase in luxury accommodations. A developer announced last month that he owns the rights to a once-bankrupt ski area halfway between Salt Lake City and Las Vegas and has plans to build a luxury resort. Craig Burton of CPB Development said he envisions a $3.5 billion development with luxury homes, a Jack Nicklaus-commissioned golf course and other amenities at the Elk Meadows ski area in central Utah’s Beaver County. Farther south, in the town of Big Water, Utah — population less than 500 — a California development group is building the exclusive Amangiri resort. Nestled in the red rock desert near Lake Powell, the resort will feature 34 luxury hotel rooms running $900 a night and 28 villas that will sell for around $6.5 million, all managed by the Singapore-based luxury brand Amanresorts. The development will cause an 20% increase in Kane County’s property valuation, according to county estimates. “It most definitely will be the premier resort in the United States and possibly the world,” said developer Homi Vazifdar of the Canyon Equity Group of Larkspur, Calif. Vazifdar said its location in Utah’s remote canyon country is what gives it value. “If a buyer wants to buy a villa on an ocean, or near a forest or a ski resort, there are a million choices. This is one of a kind,” he said. And while the area will feel “out in the boonies,” an airport and activities will be closer than expected, Vazifdar said. The resort, scheduled to open in spring 2008, is about 15 miles from the airport in Page, Ariz. It is a half-hour flight to the Grand Canyon, a short drive to red rock vistas in Utah’s national parks and monuments, and a luxury houseboat will be available for guests to rent for floating around Lake Powell. Vazifdar said about 200 jobs will be created by the resort, which will cost about $1 billion to build.

Utah Business

Luxury St. Regis Resort Scheduled to Open in Deer Valley


by Jared Preusz The economy these days seems to be slowing everything down. However, this may not be the case with Deer Valley. In August this year, the resort will be the home of the luxurious and world famous St. Regis Hotel. The $260 million project which includes residential as well as pay-per-night living spaces, promises to offer a top-of-the line luxurious experience with fine dining and personal service. “It is going to be an ultra luxurious place,” said Stan Castleton, chief executive of DDRM LLC and developer of the Deer Valley St. Regis Hotel. The hotel will house one of the largest high quality spas in Utah, as well as a restaurant with flavorful dishes prepared by a world renowned chef. Each guest and resident at the hotel will also have their own personal butler service. Castleton said Deer Valley is the best place for the St. Regis hotel in the state of Utah because of its prestige and high ranking as a popular ski destination. “Deer Valley is the highest rated ski resort in North America this year, two years running, which beats out everybody,” Castleton said. Along with its attraction for skiing, Castleton said Utah has an advantage over other states in the nation because of its accessibility. With the airport and Salt Lake City close by, Castleton said it makes it easier for tourists and residents to run errands as well as participate in recreational activities. Even though the St. Regis Hotel will be coming in a few months to the Deer Valley area, the project still has felt the pinch from the nation’s sluggish economy. “The economy certainly has slowed down the sales and our real estate,” Castleton said. “Then again, there’s still a lot of interest going into this project.” With the addition of golf courses and many other venues, Deer Valley is also changing to an all season resort, which makes the St. Regis hotel even more attractive. Castleton said another key feature of the resort is the unrivaled scenery of Park City and the Uinta Mountains. Castleton believes the St. Regis hotel will be a huge benefit to businesses in Utah. “It’s been my experience that when really high end hotels come into a place, people say ‘wow I need to see what’s going on,’” Castleton said. “And that’s a proven process particularly in resorts.”

Fox 13 News

The St. Regis Deer Crest Resort Funicular.


Fox 13 News Salt Lake City.


The St. Regis Deer Comes to Deer Valley


KSLTV 5 Salt Lake City.

The New York Times

Breaking Ground



St Regis Resort & Residences, Deer Crest. WHAT: Hotel and residential development in a ski area. WHERE: Park City, Utah. AMENITIES: Direct access to a ski resort and a full service spa, among others. PRICES: Hotel condominiums range from $1.5 million to $4.3 millionm private condominiums from $2.5 million to $8 million. STATUS: Construction is under way and should be completed in late 2008. DEVELOPER DDRM Greatplace CONTACT (435) 649-7170 or www.stregisdeercrest.com DETAILS This development us with in a gated community at the Deer Valleyski resort, which was a host to the events during the 2002 Winter Olympics. It is divided into two areas: a base building with a reception area and a higher building just off a ski run that will offer 67 condominium-hotel units and 26 private units. The one to four bedroom condominium-hotel units, which owners may place in a rental program to serve as hotel rooms, will be sold furnished. The private condominiums will have two to four bedrooms. A funicular will connect the private condos and the condo-hotel with the base. The spa will include a fitness center with private trainers, and there will be an infinity-edge pool , decks and an area with fire pits. Two restaurants will offer room service, and private butlers will be available.

Globe Street

Six Months Out, St Regis Deer Crest 65% Sold



PARK CITY, UT- A St Regis-branded luxury hotel-condominium development in this ski resort town is holding its own as it nears completion. As of mid-January, six months from opening, the $300-million construction project was almost 65 % pre-sold, with investors having signed on to purchase 41 of the 67 luxury condominium units, which are divisible into 181 hotel rooms, and 18 of the 26 private residences that top off the 11-story building. Moreover, Stan Castleton, CEO of the developer, DDRM LLC, tells GlobeSt.com each buyer has put down a non refundable, earnest money deposit equal to 20 % of the purchase price, “so it’s safe to say the buyers are very committed.” The remainder is due upon closing in August, he says, and he believes nearly all the buyers have the wherewithal to close the transaction. With the sales to date enough to cover the $212-million construction loan, Castleton quips that he is “able to sleep at night.” The real upside of that sales hurdle is that has been able to patient with additional sales and not having to give too much on price in the down economy. The current average per-square foot sales price is $2,000, he says. The total construction cost is $300 million. The estimated gross sellout is $320 million. The development is situated in the exclusive enclave of Deer Crest, a private, gated community of estate and mountain homes in the exclusive Deer Valley area of Park City. The enclave is noted for the gourmet food, limiting the number of skiers on the mountain and curbside valets that help you unload your car. The goal is to have the facility be the only Mobil five-star property in Utah. Amenities at the property will include ski-in/ski-out access, a 14,000 square foot spa and fitness center, a gourmet restaurant, an after ski lounge with ski valet service, a “ski beach” and two resort-style swimming pools. Guests will access the resort from the base area using a funicular railway. Some of the prominent people who have put down earnest money are Papa John’s CEO John Schnatter, sportscaster Jin Nantz and actor Kevin Sorbo. Typically sales have been dominated by Southern Californians, he says, and they are well represented at this project. “But a large percentage of buyers are from the East coast, which is a departure from the past patterns here in Deer Valley,” says Castleton, who is probably best known for his 20-year ownership of the Anaheim Hilton in Southern California. DDRM’s equity patterns include a joint venture comprised of a Hong Kong national and an East Coast-based development entity funded by pension and entrepreneurial investors. The construction lender is a syndicate of three domestic and international financial institutions arranged by Los Angeles-based Sonnenblick-Eichner Co.

Elite Traveler

Leaders in Luxury Stanley R. Castleton



Over the past two decades, Anaheim, California-based DDRM has developed more than 30 hospitality based mixed-use projects, and CEO Stan Castleton has been the leader in making them successes. In January, just months away from the opening of his next major luxury development — the $260 million-St. Regis Deer Crest in Deer Valley, Utah — Castleton took time to reflect on the elements of a successful resort, the challenges he faces in the current recession, and how luxury hotels continue to evolve. ET: With an education in accounting and agribusiness, what drew you into the world of real estate and development? Stanley R. Castleton: My father was in the real estate business and that started my focus. When I left school I went to work at Arthur Anderson and all my clients were in the real estate business. So that was my real launch. The office, which was in California's Orange County, just had a huge real estate practice. ET: In your career so far, what were a couple of projects or situations that were most enlightening? Stanley R. Castleton: My first job after I left the accounting firm was with a small home builder. I learned a lot of things not to do there. I was their accountant, and within four months everyone else had quit. They had made so many mistakes. So I reached out to some real smart people in the trade and was able to turn the company around. I learned so much from them. We completed projects in Arizona and California. ET: Did you have a mentor? Stanley R. Castleton: I did have some people I looked to who really impacted my business approach and style. Two in particular. One was my boss at Arthur Anderson. He was an accountant but a very prominent guy in not only accounting but the real estate industry as well. Another was a partner, Bill Dubrowski, who was a former lender and very honest, straight-forward, and get-to-the-crux-of-the-matter kind of guy. ET: You are a leader in condo hotel development and marketing at the luxury and ultra-luxury level throughout the country. In today's environment, what destinations will thrive and which will need time to recover? Stanley R. Castleton: I think historically, the hospitality business in general has taught us that the places that are the easiest to get to will do better and recover faster. There are a couple of reasons for that. Even in the ultra luxury sector, money may not be the issue but time is. Thus the traveler wants to invest the least amount of time in travel and the most in having the experience. So the harder it is to get to, generally speaking, the tougher. The St. Regis, Deer Crest's location in Deer Valley has that great appeal in accessibility with a thirty-minute drive on a highway to Salt Lake International Airport, a two mile-distance from Main Street, Park City and its true ski-in, ski-out location at Deer Valley Resort. ET: It sounds like a scary time to be in real estate. Have you encountered a professional situation as challenging as this economy? Stanley R. Castleton: No. ET: DDRM has taken on a number of difficult projects and turned them around. Do you see more opportunity in this economy for rescuing projects? Stanley R. Castleton: Historically have done better in those down times. Certainly we are looking at those projects and we get a lot of calls, pleas for help. I think we'll survive as a company. Maybe even thrive, I don't know. But you never know. This is a very different situation. An inability to get financing of any kind for commercial projects is a real concern. The thing that's different about this situation from other downturns is the commercial lending infrastructure is not there anymore. The people who process and analyze loans don't work at banks anymore, they are out looking for jobs. So even if a bank wanted to lend money, it would take months to tool up and create the process to loan money. Some banks are still doing very guarded and safe things, but that is the exception rather than the rule. And a worry is, when you take on a turnaround, sooner or later you have to re finance. But, if you can work with an existing lender it's a different story. ET: How about opportunities outside the U.S.? Stanley R. Castleton: We are actively working in Mexico. There are things there that make it both easier and harder. ET: Your next project to open is the St. Regis Deer Crest in Utah. Are other projects still on track too? Stanley R. Castleton: St. Regis is a mature project and it will open in summer 2009. It is actually a pretty solid financial structure given all the circumstances. A project we were doing in Indian Wells is now slated for Palm Springs. We are no longer doing a project in Bermuda. We are working on a project in Ketchum, and pursuing one in Mexico. And we still have a significant presence in Deer Valley/Park City for large undertakings. But we have adjusted everything there to 2011 as a target date for sales or presales. I don't think there will be any turnaround until maybe winter of 2010 or 2011 in the ski resort world. ET: Have you changed expectations for sales since projects began? Stanley R. Castleton: In our upper level projects, we don't ever change our pricing. That is to protect those who already purchased properties, so we're holding prices. Amazingly, even in the St. Regis, there is still a tremendous amount of activity. People are taking a lot longer to make a purchase decision. But at the $2,000 square foot and over level, they are still buying. It's just slower. ET: What is your advice to the person who is a buyer—one of your end consumers—in this environment? Stanley R. Castleton: That depends upon the property under consideration. We like to think we focus on irreplaceable projects in their location. Those values will always be there at some level. So I would just recommend focusing on those projects, the ones that are ground zero locations and very special. ET: At the high end of the market, how are projects evolving to be attractive to the hotel guest and condo buyer who only wants the best? Stanley R. Castleton: That is the $64 million question. Some years ago we became frustrated about not understanding that. The really wealthy people are hard to get good information about. They don't fill out exit interviews or do focus groups as a general rule. So we hired a company to gather resort stay information, whereby guests staying at hotels would evaluate the process in person. We had them check in as guests, and they got into conversations with people in the hotels' restaurants, pools and spas. And over a year they got really good information on what wealthy people were looking for in a resort. I found it interesting that there were suggestions for changes to the hotel's physical facility, but the big thing that people wanted was a place with a sense of community. If they had a family with kids, they wanted to feel they could go back every year because everyone in the family thought the resort was a cool place and that they would know the people there. So that's where we're focusing. It's more about the people you hire and retraining the people who work there. There are some physical issues too, the new resorts have to be very much a family place. One of the many ways that the St. Regis, Deer Crest welcomes families of all different ages is by being diverse and creative in its year-round amenities. ET: What are your goals for DDRM in next five years? Stanley R. Castleton: Right now, to still be in business. A resort developer is kind of on the outside rim of the wheels spinning fast. ET: What are your personal vacations like? Stanley R. Castleton: I recently visited Rosewood Mayakoba. It is fantastic, and the rooms are very unique for the way they are oriented to the water. They faced challenges because of the configuration of the site but I like what they did there a lot. I visit a lot of resorts and take photos of the oddest things, like the plumbing under the sink or how the curtain rods fit. But that Rosewood property did a great job bringing the indoors out and the outdoors in. Most of my time is now spent in Park City. ET: What else would you like to share with Elite Travelers? Stanley R. Castleton: We focus on resorts, which offer a different experience than going to the St. Regis or Four Seasons in New York City. The decision-making process is very different. We've listened to people about what they want in resorts and we're excited about what we can provide going forward.