Park City In-Town Living After the Bonanza 5-Acre Plan

The Bonanza Park 5-acre proposal would put 106 rental apartments, 88 of them income-restricted, on city-owned land at Kearns Boulevard and Bonanza Drive, along with about 32,600 square feet of commercial space, a childcare center, arts space and nearly two acres of public open space. None of the 106 homes would be for sale. In October 2026 the developer paused Planning Commission review to revise the design, and the City Council plans to take another look at the project in November. Treat it as a proposal to watch, not a finished project to plan around.

Key Takeaways

• The proposal includes 106 rental units, and 88 of them would be deed-restricted, income-restricted homes, according to the City of Park City.
• All 106 homes are rentals, so the project adds no homes for sale.
• Review is on hold. Brinshore Development asked to continue the October 14 Planning Commission hearing while it revises the design, and the City Council has asked for an update in November, with rising construction costs on the agenda.
• Buyers near the site have leverage. The MLS area around it has about 13 months of supply, which is a buyer's market.
• No source supports a definite effect on nearby sale prices, rents or resale values while the plan is still changing.

What exactly is planned at Kearns Boulevard and Bonanza Drive?

The City of Park City owns the roughly 5-acre site at the southwest corner of Kearns Boulevard and Bonanza Drive. It bought the land in 2017 for $19.5 million. The current proposal from Brinshore Development combines rental housing with commercial, arts, childcare and open-space uses. The figures below come from the city's 5-acre site page and its planning overview, as the proposal stood before the October revisions.

The housing mix matters most. Of the 106 rentals, 88 are income-restricted and 18 are not. KPCW reported that the apartments are a mix of one-, two- and three-bedroom units, aimed at households earning 40% to 80% of area median income, per its coverage of the March council action. Eligibility limits and rent schedules can change with program rules and final approvals, so check the final affordability documents with the city before relying on any number.

These are rentals. Nobody will be able to buy a unit here, so if you're making a purchase plan, the project only affects you as a neighbor.

What else is in the project beyond housing?

The non-residential side is substantial. The city lists locally serving retail, restaurants and cafés, public art space, community green space and a childcare center. These are proposal-level uses, and no operators or tenants have been announced.

The open space covers nearly two acres in the middle of the site. KPCW's August 2026 review coverage describes a small amphitheater, a playground and lawn space, and puts the open space at about 62% of the site. Sources measure the site and the open space differently, so the city's "nearly two acres" is the safest headline figure.

Why did the buildings change, and are they still changing?

An earlier design called for 156 units in larger four-story buildings. The City Council refined the concept over seven public hearings between August 2025 and March 2026, and the result was 106 units in seven smaller buildings: one one-story, five three-story and one four-story.

Height is still being negotiated. The zone's limit is 35 feet, and KPCW reported in August that six of the seven buildings exceeded it, which is why the developer is seeking height exceptions. Since then the Planning Commission has pushed for lower buildings and some commissioners want fewer garage stalls. A few have also raised dropping one of the six housing buildings. None of that has been decided. If you own nearby, the final height and massing will shape your view and your street more than anything else in this plan.

Where does the approval process stand right now?

The project is paused. No construction start or move-in date has been set. Here's the sequence:

• March 19, 2026: The City Council approved preliminary plans and directed Brinshore to submit land use applications for Planning Commission review.
• June to September 2026: The Planning Commission held a site visit, work sessions and public hearings on height, traffic, parking and sustainability.
• October 14, 2026: Brinshore asked to continue the scheduled hearing to a date uncertain, saying the design revisions need more time from its architects and engineers, TownLift reported.
• November 2026: The City Council, which owns the land, plans to review the project. KPCW reported that one councilmember worried the plan had drifted from the council's original intent, and that the mayor wants to revisit costs because construction prices have risen since March. The city has agreed to contribute up to $40 million.

There is also organized opposition. The resident group PLACE PC had gathered 2,400 signatures as of September 30 asking the city to end its partnership with Brinshore, according to KPCW's October 6 report, which also found the city had spent almost $24.4 million on the site since 2017. The city's current agreement with Brinshore runs through December 31, 2026. The project could still go forward as proposed, shrink, or change significantly.

If this site affects your decision, check the city's planning page for the latest status before you act.

What is for sale near the site today?

Quite a lot, and buyers have leverage. The Bonanza Park site falls in the Prospector area of the Park City MLS, which stretches from Prospector Square and the Iron Horse district east to Park City Heights. As of October 28, 2026, the Park City MLS shows:

• 33 active residential listings and 7 pending, against 15 closings in the past six months. That works out to about 13 months of supply, well into buyer's-market territory.
• 28 closed sales so far in 2026. Resales went under contract in a median of 68 days and sold for an average of 92.6% of their original list price.
• A wide price range. Active listings run from about $235,000 for a small hotel-style condo at Prospector Square to $5.4 million for a new single-family home in Park City Heights.
• Condos inside the Bonanza Park district itself. Two- and three-bedroom units on Upper Ironhorse Loop, in the Iron Horse district just south of the site, are listed from $590,000 to $599,000.

The area-wide figures mix studio condos with large homes, so don't use them to price a specific property. They do show that buyers near the site don't have to wait on the project. There is inventory now, and sellers there are negotiating.

What could the project mean for buyers, renters and investors?

It could make the Bonanza Park corridor more walkable and mixed-use and add long-term rental supply, but no one can honestly promise what it will do to prices or rents. Here's how I'd think about it depending on where you sit.

If you're buying nearby: treat the plan as a possible amenity upgrade, not a guaranteed value driver. Cafés, retail, childcare and a public green near a condo or townhome make daily errands easier, and buyers weigh that when they compare in-town locations with homes farther out in the Snyderville Basin. But the sources don't settle the final pedestrian and cycling design, transit changes or parking. A walkable promise on paper is not a walkable street. Price the property on what's there today, and use the current supply to negotiate.

If you're renting or plan to: the 88 income-restricted homes are the headline, and the 18 unrestricted rentals add some in-town supply. Whether you'd qualify depends on income bands and program rules that aren't final. Don't plan around a move-in date that doesn't exist yet.

If you're investing: this is a supply story. More long-term rentals in the corridor could compete with some in-town rentals, while the same project could make the area more appealing. Those forces pull in opposite directions, and I won't pretend to know which wins. Underwrite on what a property earns today and treat the project as upside or risk, not an assumption. Large developments shift demand across the area too. I've covered that in what Junction Commons means for Park City buyers and investors and in Park City-area housing demand after Junction Commons.

If you're selling nearby: with about 13 months of supply in the area, pricing and presentation matter more than the project does. I cover that in pricing your Park City home right in the first week, and you can request a home value estimate to see where your property stands. If you're weighing in-town living against a resort-area purchase, the two behave very differently, which I walk through in what buyers should know about resort properties in Park City.

Want to see how clients feel about working with my team? You can read reviews on Google, Zillow and Realtor.com.

Frequently Asked Questions

How many of the 106 Bonanza Park apartments will be income-restricted?

88 of the 106 rentals are proposed as deed-restricted, income-restricted homes, according to the City of Park City. The other 18 would have no income restrictions. The mix could change because the design is being revised.

Who will qualify for the 88 deed-restricted homes?

KPCW reported that the apartments are proposed for households earning between 40% and 80% of area median income. Final eligibility rules, rent schedules and application procedures haven't been published, so confirm them with the city and the project's operator once they're available.

Will the Bonanza Park project be rentals or homes for sale?

Rentals only. All 106 homes would be rental units, so the project adds long-term rental supply and no homes for sale. If you want to buy near the site, look at the existing condos, townhomes and single-family homes in the area, where supply is currently high.

When could residents move into the new Bonanza Park housing?

No move-in date exists. In October 2026 the developer paused Planning Commission review to revise the design, and the City Council plans to review the project in November. Construction timing depends on approvals that haven't happened yet.

Could new Bonanza Park housing affect demand for nearby condos and townhomes?

It could, but no source supports a definite effect on nearby sale prices, rents or resale values. New rentals and new walkable amenities could pull in different directions for different properties. For a specific condo or townhome, the answer depends on its location, condition and how it's positioned.

The bottom line

The Bonanza 5-acre proposal could add rentals, community space and walkable amenities to an established in-town corridor, and it's worth following if in-town Park City living is on your list. It's also unsettled: review is paused, costs are being reopened and the design is still moving. Base your plan on the market as it is today. Right now that market gives buyers near the site time and leverage.

If you're buying or selling in Park City or anywhere across the Wasatch Back, we're happy to consult on the market and help you assess your options. Reach out to schedule a private consultation with our team, and we'll walk through how the Bonanza Park project, and the inventory around it, fits your goals.

About David Lawson

David Lawson is the founder of the Lawson Real Estate Team, a luxury real estate group serving Park City and the greater Wasatch Back, including Hideout, Midway, Heber, and Kamas. He leads a team that has closed more than 3,920 transactions and earned recognition as the #1 eXp Realty team in Utah (2022–2025) and previously the #1 Engel & Völkers team worldwide (2019, 2021). David and his team specialize in high-end mountain properties, from single family homes and new construction to ski-in/ski-out vacation properties and short-term rental investments, guiding buyers and sellers through one of the most segmented luxury markets in the country.

Equal Housing Opportunity. Each office is independently owned and operated. Real estate licensees in Utah are regulated by the Utah Division of Real Estate. This article is general information, not legal, tax, or financial advice. Market statistics are from the Park City MLS as of October 28, 2026, and are deemed reliable but not guaranteed.