MAGLEBY DEVELOPMENT DEBUTS VELVAERE

Mountainside Residential Community to Usher in a New Era of Wellbeing in Park City, Utah

PARK CITY, Utah, Sept. 21, 2022 /PRNewswire/ -- Magleby Development announces the groundbreaking of Velvære, a thoughtfully-envisioned wellness community adjacent to Park City's iconic Deer Valley Resort, positioned within America's newest ski resort, currently under development by Extell Utah. Dedicated to providing residents and club members a holistic wellbeing and adventure-centric lifestyle, Velvære embraces nature and intentional living. Velvære will offer best-in-class amenity facilities with forward-thinking technology, and carefully curated transformative experiences aimed at providing residents and members proven health benefits, peak personal performance, and authentically balanced lives.

The 60-acre community with 115 planned residences will feature direct ski-in, ski-out access and year-round mountain adventure and recreation through an onsite ski-lift, extensive ski terrain, discovery-focused outdoor spaces, an integrative wellness center, and family adventure center all woven around 115 private residences.

"Our vision is to create a community where health, wellbeing and a better future is at the forefront of every amenity, experience and residence," said Chad Magleby, CEO of Magleby Development. "Our goal is to truly revolutionize what it means to be 'well' and inspire wellness-based communities of all kinds not just in Utah, but around the world."

Homeowners at Velvære will have a wellbeing membership, granting access to all of the club offerings. In addition, a limited number of wellness club memberships will be available for purchase to non-homeowners, granting exclusive access to the following exciting amenities:

• Wellness Center (Approximately 20,000 sq. ft.): The state-of-the-art Wellness Center will feature industry-leading technology and one-of-a-kind, transformative hyper-wellness experiences. Residents will have access to wellbeing amenities including cryotherapy; a hyperbaric chamber/pod; LightStem LED; floatation pool; nutrition programs for microbiome and biohacking; lymph drainage; IV therapy, thermal and contrast bathing; fitness training, yoga, meditation, sound baths, integrative medicine, cognitive health, and more. Nature-oriented pools with secluded spaces and an innovative fitness training center will provide areas for movement and relaxation, while culinary options and a recovery center will provide areas for nourishment and revitalization.
• Adventure Center (Approximately 15,000 sq. ft.): The Adventure Center will provide the perfect jumping-off point for outdoor recreation, from skiing and hiking to other wilderness activities, serving as the ultimate basecamp. Here, residents will have access to an expansive après ski beach; full-service restaurant and rooftop bar, gear storage; grab-n-go market; games and activities; plus a family-friendly outdoor pool and hot tub.
• Ski-Lift + Ski-In, Ski-Out Access: Residents will access America's newest ski resort through a ski-lift located directly within the community, less than 200 feet from the Adventure Center. This access includes 4,300 acres of new ski terrain with bowls, glades, chutes, and groomers and over 50 miles of hiking and mountain biking trails.
• Stand-Out Additional Amenities: Additional amenities include locally grown and produced groceries with delivery services, wellness education classes and retreats, and nutrition consulting, along with a fully managed maintenance-free homeowner experience including all landscaping, exterior upkeep, and snow removal.

The 115 residences all featuring environmentally forward design and amenities steeped in wellbeing, will consist of:

• 12 cabins (2,000 - 2,100 sq. ft., 3 bedrooms, 3.5 bathrooms) - homes projected to start from $4M's.
• 68 residences (2,600 - 4,600 sq. ft., 4-5 bedrooms) - paired homes projected to start from $5M's.
• 35 custom curated estates (6,000 - 8,500 sq. ft, lots from 0.29 - 3.3 acres and 5+ bedrooms) - homes projected to start from $12M's.

To ensure an immersive wellbeing experience, Velvære has enrolled with the International WELL Building Institute to pursue the WELL Certification under the WELL Building Standard, the world's premier performance-based, third-party verified rating system focused on measuring, certifying and monitoring design and operation features of the built environment that impact human health and wellbeing to prevent chronic diseases by improving air, water and lighting qualities, nutrition, fitness, mood, sleep patterns and performance of its occupants. Other innovative partners include Delos - a leader in science-backed solutions for healthier indoor spaces. Delos uses an evidence-based approach to identify and vet best-in-class wellness solutions such as advanced air purification, water filtration, circadian lighting and enhanced sleep solutions, helping transform the entire experience of a healthier home.

Each residence will include customized in-home sanctuary spaces that bring the wellbeing experience fully into the home. Sanctuary options will include light therapy, plunge pools, saunas, steam rooms and more. The first residences are slated for completion by early 2024.

For more information and regular updates on Velvære, please visit www.velvaereparkcity.com and follow along on Facebook at @velvaereparkcity and Instagram @velvaereparkcity.

Magleby Development was established to combine the heritage of a 45-year old best-in-class construction company with a legacy of building Utah's ultra-estates with cutting-edge, technology and wellness-based master planned communities. Magleby Development partners with developers, architects and interior designers to create luxury wellness communities in some of the most highly sought-after locations in Utah and Idaho.

SOURCE Magleby Development