According to a press release, the sale included a commitment to balance responsible development and preservation of the land. Currently, 1,845 acres of land have been preserved through a conservation easement and protection clauses, the statement said. The 2,600-acre resort was founded over 50 years ago by Redford.
“Change is inevitable, and for several years my family and I have been considering a transition to a new property for the resort. We knew that at the right time and with the right people, we could make the transition, ”Redford said in The Release. “Broadreach and Cedar share our values and interest in maintaining the uniqueness of the resort, while honoring its history, community and natural beauty. This makes them well suited to ensure that future generations can continue to find solace and inspiration here. ”
Redford and his family announced that they have also partnered with the Utah Open Lands to bring more than 300 acres of wildlife habitat, including streams and wetlands, into permanent protection.
The new owners, Broadreach and Cedar, said they “intend to work closely with the Sundance community to take advantage of the attributes that have made the resort one of a kind: a spectacular setting with nature as the main attraction; slow, thoughtful, low density and measured growth; and a central commitment to sustainability in all its forms. ”
Broadreach and Cedar announced in the press release that they plan to expand mountain amenities and potentially increase hotel beds and offer cultural programs.
“In 1969, Robert Redford had a courageous vision to create a haven of discovery and new ideas, immersed in a rich cultural history honoring individuality and creativity,” said Philip Maritz, Managing Director of Broadreach Capital Partners, in the communicated.