Cormont at Deer Valley: Investor Tour & Project Update 2026

In this video, Duncan leads EB5 United’s first large investor tour of Cormont, joined by teams from Reef Capital Partners and Jacobsen Construction. The visit comes just three weeks after the previous construction update, with Building 5 now topped off and the rest of the site progressing daily.

Key Takeaways

• The Deer Valley East Village master plan represents an estimated nearly $5.5 billion of development, with Cormont at the center, alongside Tower 1 and the neighboring Four Seasons
• Extel will retain ownership of the ground-floor retail space, requiring restaurants and shops to stay open 350 to 360 days a year to drive the year-round destination
• The first units are expected to finish this year
• The reservoir offers wakeboarding, wakesurfing, boating, and power boating, plus hiking access, making Deer Valley East a true 365-day-a-year, ski-in ski-out resort

In her talk, Sheila explained why buyer confidence in the village remained strong, pointing to both Cormont’s standing within the Project and Deer Valley East’s growth as a location.

About Cormont

She explained that Cormont had drawn growing interest within the village, with buyers eager to understand the Project alongside larger brand names like Four Seasons and Waldorf Astoria. On sales, Towers 1 and 5 were roughly 85% sold, Tower 2 had just launched its first sales, and Tower 4 was set to launch by year-end at a higher price, with Tower 3 following about a year later, projected to average $3,000 per square foot against today’s comparable pricing of $3,500 per square foot.

About Deer Valley

She also talked about Deer Valley East Village itself: a development backed by more than $500 million in local government bonds, anchored by Four Seasons, Waldorf Astoria, and Cormont, and owned by Altera (KSL Partners and the Crown family), with a major village opening expected in 2028. Hall pointed to that ownership and the brands’ own vetting of the Project, along with Four Seasons’ record $4,700 per square foot sale, as the reasons behind that confidence.

Sheila also explained the reason behind Cormont’s sales momentum. Cormont was 25% sold, with nearly 100 units having moved in the year and a half since serious pre-sales began, a pace that had outpaced expectations. When asked why, Hall pointed to several factors:

• The simultaneous launch of Four Seasons, which drove significant traffic to Cormont
• A built-in waitlist of roughly 1,100 buyers, built over her five years selling in the village, which converted directly into early Cormont demand
• Reef’s reputation and its network of repeat investors and buyers, a meaningful driver of trust and referral sales
• A national broker network, paid the same commission as local Utah agents (an uncommon practice), key to reaching Cormont’s largely out-of-state buyer base

Reef Capital Partners CFO Jon Day spoke with Cormont’s Construction Manager Matt McKinnon about the Project’s construction progress, its partnership with general contractor Jacobsen, and the workforce advantages of building near Salt Lake City. McKinnon had managed the Project since its early planning and design phase three years earlier, and reported the team was on schedule and, in some respects, ahead of it.

Construction Progress

• Concrete work began in late summer 2025
• Tower 1 was roughly 14 days from topping out
• MEP work was underway on the below-grade levels (P0–P2)
• Team was targeting substantial completion next year

About Jacobsen

• McKinnon described GC Jacobsen as a partner that shares Reef’s goals, which he credited for keeping the Project on track
• They self-performed the concrete work and subcontracted interior finishes, glazing, and mechanical/plumbing
• Their winter-construction methods had kept crews pouring through Utah winters and snowstorms

Cormont’s Workforce Advantage

• Most of the workforce was drawn from Salt Lake Valley and Utah County, a labor advantage few ski-destination projects have
• Recent completion of Salt Lake City International Airport’s expansion freed up both concrete supply and experienced workforce

Sheila Hall and Scott of Reef Capital Partners gave a July 2026 construction update on Cormont at Deer Valley. Filmed from Level 8, the top floor of Tower 1, the update took in views of Tower 5 construction, the plaza, the ice ribbon, and the skier services building, as Tower 1 neared its roof top‑off.

Key Takeaways

• Tower 1 was topping off on July 13th, with the roof and concrete deck going on
• Lower levels, including the lobby, were in rough framing, with MEP being roughed in
• Level 2 was at the same framing stage
• Formwork for Tower 1’s roof system was being placed on Level 8, confirming the July 13th top‑off date