The Grand Summit Lodge at The Canyons Resort in Park City Utah offers  fractional home ownership for those who want a second home ski condo but can’t afford the full ownership price tag.  I’m currently working with some clients that decided to take that route after looking into full ownership opportunities in the Park City real estate marketplace.  They are finding it is perfect for them and it will offer them a condo in a great location next to the Canyons Resort’s gondola at a great price.  The finishes and amenities are terrific too. 

The fractional ownership at the Grand Summit Lodge is in quarter share portions.  There are some full ownership opportunities but most are sold in single quarter share increments providing an owner with 13 weeks of rotating useage a year.  The schedule rotates every year so everyone eventually gets a week at prime time.   Owners can also work with other owners to swap out weeks as well as those participating in the rental program have access to a space available program.  It’s a great product at a great price.  Depending on your personal usage of the condo, rental income that is split with the property management company can potentially offset HOA and taxes for the condo. 

The units my clients are considering range in square footage prices of $110/square foot to $150/square foot.  When multiplied by 4 quarters that equals about $440 /square foot to $600/ square foot which is a terrific buy compared to the newer product being developed in the same location.  The quality of the finishes in the Grand Summit Lodge condo hotel are very nice as well.

For those wanting to purchase a ski condo in Park City,  fractional ownership of a condo may be the way to go if you are flexible on when you would use the condo and want a smaller price tag. 

This entry was posted on Sunday, August 13th, 2006 at 2:25 pm and is filed under Canyons Resort. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.