Park City, Utah—After announcing plans for a 320,000 square-foot sustainable development project bringing 208 affordable housing units, around 100 townhomes and condominiums, retail and dining, as well as open-air public spaces to the Park City community earlier this spring, the family-owned and locally operated Crandall Capital, whose previous completed projects include nearby Newpark Town Center, The Commons at Newpark, and the state-of-the-art Utah Film Studios, are thrilled to formally announce that they will be breaking ground on Studio Crossing on Wednesday, October 25th. 

To meet the growing demand for affordable housing in prolific ski towns across the US, developers have been getting on board to create homes and neighborhood amenities to directly meet this issue, but most of these projects in similar towns such as Aspen or Breckenridge in Colorado are backed by government grants and other local funding. Studio Crossing differs as Crandall Capital, run by Gary Crandall and his sons Ryan and Matthew, deliberately chose to go forth with their vision for the project without the use of state or local tax dollars. As long-time members of the Park City community, it was their mission to continue its impactful, community-based efforts to provide solutions and improve the city’s rapidly expanding infrastructure alongside the growth of thei locally based real estate development company.

By introducing mixed-use affordable apartments and commercial spaces as well as market-rate townhomes and condos with Studio Crossing, the Crandalls also aim to decrease commuter traffic coming into the city by providing housing for ski tourism workers who are currently priced out of the area. The development, slated for completion of Phase 1 of the project in 2025, will add an entirely new neighborhood to Park City while providing eco-conscious solutions throughout its buildout. Considering the environment and protecting the natural beauty of the area while providing progressive infrastructure to their community have been core values behind every Crandall Capital project, and plans for Studio Crossing will exceed this effort. To help bring their vision to life, the Crandalls have tapped Steed Construction to implement the project and Salt Lake City multi-disciplinary design studio Modern Out West as the lead architects to bring functional and beautifully designed spaces to the future tenants of the development.

“We’re incredibly excited to move forward with our vision for the Park City community with the groundbreaking on Studio Crossing later this month. As I’ve said before, we are a small, family business that aims to help the community that we reside in, who cares about its residents and the future of the city overall. This site when completed will not only put roofs over heads that need it, but I believe will evolve into a vibrant community hub people can enjoy for generations to come,” says Gary Crandall.

To mark the occasion on October 25th, Crandall Capital has commissioned local found-metal artist Malen Pierson to create a sculpture to live on-site at Studio Crossing for future residents and visitors to enjoy and will be revealed to the community at the groundbreaking ceremony.

Located directly adjacent to Utah Film Studios, the Studio Crossing development will bring forward a modern community in which residents and studio workers or visitors will intermix. Key components of the Studio Crossing project include:

  • Mixed-Use Affordable Housing— At its core, Studio Crossing will introduce 208 affordable housing units ranging from studios to 3 bedrooms. The introduction of affordable apartments within the project comes from Crandall Capital alone, without using state or local tax dollars.
  • Market-Rate Multi-generational Townhomes and Condos— The property will also include 50 market-rate townhomes (two to three bedrooms) accounting for 82,000 sq. ft. of for-sale units along with another 60,000 sq. ft. of market-rate condos. The townhomes and condos have been designed for a variety of residents, including working professionals and seniors seeking to age in place.
  • Community-Driven Retail and Dining— Shying away from the “big box” brands, the Crandalls aim to include locally-driven storefront businesses to provide an eclectic mix of dining and retail options that further enrich the community.
  • Green Community Advantages— This sustainable community will introduce an entirely modern development to the area while providing eco-conscious solutions such as a public transit station for getting to downtown Park City and Salt Lake, electric car ports, e-bike share, low-emitting construction materials, water-wise planting and more to be environmentally responsible from start to finish.

***Stay tuned for future updates from Crandall Capital as we approach the completion of the Studio Crossing community project.***

ABOUT CRANDALL CAPITAL: Crandall Capital is a family-owned real estate development company headquartered in Park City, Utah. Founded by Gary Crandall and operated with sons, Ryan and Matthew. Crandall Capital has its roots in philanthropy and giving back to the community. Gary received The Park City Rotary Club’s “Community Appreciation Award” (Citizens of the Year) in 2021. Gary and his sons are constantly seeking new areas for impactful development opportunities. With over 40 years of experience, Crandall Capital focuses on mixed-use, condominium, affordable housing, and retail developments within the Mountain West region. Smaller by design, Crandall Capital is more agile than larger developers allowing for swift decision-making, innovative financing and rapid closings. Portfolio highlights of Crandall Capital include the 123,500 sq. ft. Newpark Town Center, a thriving mixed-use center for retail and dining, Newpark Terrace, a 60-unit condominium development, Utah Film Studios a 100,000 sq. ft. state-of-the-art film studio that includes production offices, a mill and three 15,000 square foot sound stages and the Newpark Commons with 38 affordable apartments and 12,000 sq. ft. of retail. On the horizon, Crandall Capital will break ground in the summer of 2023 on Studio Crossing, a 320,000 sq. ft. project at Quinn’s Junction, Park City. This ambitious and desired project will address the growing demand for affordable housing and offer a variety of dining and retail options along with open-air community spaces. This “Green Community" will introduce an entirely new development to the area while providing eco-conscious solutions such as a public transit station, electric car ports, e-bike share, low-emitting construction materials, water-wise planting and more. Crandall Capital is dedicated to its mission of helping transform and advance Park City’s affordable housing shortage and community-style living.