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Record Sales for Red Ledges Near Park City, Utah

Red Ledges' newest luxury home ownership option called The Mountain Villas. Designed and built in partnership with Ivory Custom Homes. (Photo: Business Wire)

"We are seeing that buyers interested in recreational communities really do take to heart both value and the developer's commitment to building amenities, programs and infrastructure," said Mitchel Burns, Red Ledges chief operating officer. "We are committed to providing an unmatched lifestyle experience to our owners, and I have no doubt that the terrific sales we saw in July were influenced by the additions of the Swim and Fitness Club, the Cliff Drysdale Tennis School and new home ownership price points."

The real estate economy in the Park City and Heber Valley areas has not only experienced significant improvement, but is also receiving national attention as a top area for luxury real estate. According to the Park City Board of Realtors' 2^nd Quarter Report Summary, single family homes sales are up 24 percent and inventory is down 35 percent compared to last year. The Wall Street Journal and Barron's recently announced its top second home markets with Park City ranking in the No. 3 spot.

Red Ledges offers a wide range of luxury home ownership options from its collection of Mountain Villas, Cottage Homes, The Heights and estate home sites. The Mountain Villas, Red Ledges' newest offering, are being designed and built in partnership with Ivory Custom Homes to capture the refined style and mountain feel of the area. The award-winning builder has 23 years of experience in the design and construction of high-end luxury communities. Red Ledges' home ownership options start at $495,000, with home sites priced from $195,000.

"Of all the major real estate projects in the area that have launched in the last five years, Red Ledges is one of the few developments that still has its original ownership team and is continuing to expand infrastructure and amenities," continued Burns. "We are determined to keep our word to buyers and instill confidence that our community will be around for years to come."

To match the award-winning Jack Nicklaus Signature golf course, Red Ledges expanded its lifestyle offerings with the launch of the Cliff Drysdale Tennis School, the first high-altitude facility by U.S. Open doubles champion and ESPN commentator Cliff Drysdale. The facility provides a host of tennis offerings, including private lessons, group clinics, community tournaments and international exhibitions.

Red Ledges' most recent expansion is the opening of the Swim and Fitness Club, complete with a resort-style swimming pool, spa and fitness program area.

About Red Ledges

Red Ledges is a premier private recreational mountain community in Heber Valley, Utah, that opened its 18-hole Jack Nicklaus Signature Golf Course in July 2009. Golf Magazine named Red Ledges the No. 1 Best New Private Golf Course in 2009. Red Ledges was also named Best Golf Course in Utah in 2010 and 2011 by Best of State Awards, Utah's premier recognition and awards program. Red Ledges will encompass homes across nearly 2,000 acres and hosts such amenities as a Jim McLean Golf School, a Cliff Drysdale Tennis School, an extensive equestrian program and a new Swim and Fitness Club. More amenities to come include a Nicklaus Design nine-hole short course, an equestrian center with indoor and outdoor facilities, and the Village Center, which will include expanded swim, fitness and tennis amenities. For more information, visit www.redledges.com.

Photos/Multimedia Gallery Available: http://www.businesswire.com/cgi-bin/mmg.cgi?eid=6824822&lang=en

For Red Ledges
Anne Williams
801-481-9482 (office)
801-458-3837 (cell)
awilliams@intrepidagency.com