Home » WSJ – Jon Huntsman, Sr. Lowers the Price of Park City Home to $34 Million

WSJ – Jon Huntsman, Sr. Lowers the Price of Park City Home to $34 Million

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Source: WSJ – By CANDACE TAYLOR May 29, 2014

Looking back on the construction of his 12-bedroom, 16-bath ski house in Park City, Jon M. Huntsman, Sr. said: “I went a little bit overboard when I built the thing, I have to admit.”

That is one reason the billionaire Utah businessman, founder of Huntsman Corp. and father of former Republican presidential candidate Jon M. Huntsman, Jr., is cutting the price of the house again, this time to $34 million, from $44 million. The house was first listed in 2009 for $55 million and has since seen several price cuts. It was listed at $44 million about a year ago, according to listing agent Paul Benson of Summit Sotheby’s International Realty.

Huntsman Pic2Even with the price cut, it is still the highest-priced property for sale in Utah, according to Mr. Benson.

The roughly 22,000-square-foot house sits on over 60 wooded acres in Deer Valley, and is constructed of timber reclaimed from Yellowstone National Park. With two “bunk rooms,” it can sleep about 44 people, Mr. Huntsman said.

He purchased the land—16 separate parcels—and built the home in the late 1980s. He and his wife have nine children and 56 grandchildren, he said, so he needed to ensure the house would be big enough to fit the whole family.

The result was what Mr. Huntsman called “one of the most grandiose homes ever built in America,” with an indoor swimming pool, a fitness center and a 22-car garage. The furniture, much of which was custom-made for the home, is for sale along with the house. The home is decorated with the Huntsmans’ extensive collection of Native American artifacts, but those aren’t for sale, he said. (Mr. Huntsman disputed previous reports in The Journal that the house cost more than $100 million to build and furnish, saying he’s not sure how much money he put into it over the years.)

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The family used the property—which has a lake, a stream and hiking trails—in all seasons for years, he said. But he now owns a resort in Idaho, where he was born and raised, and spends much of his time there. “We don’t use Deer Valley much,” he said, noting that he is planning to keep his primary residence in Salt Lake City as well as his home in Hawaii.

Mr. Huntsman, 76, said he hopes the reduced price will help the home sell quickly, so he can use the proceeds to help fund construction of a new 220,000-square-foot research facility at the Huntsman Cancer Institute at the University of Utah in Salt Lake City.

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