The Pendry Residences Park City has reached its half-sold milestone. Despite the pandemic and the economic disruption that it brought on, Pendry Residences have continued to see strong demand and sales activity during the pandemic. As a result, the development remains ahead of schedule on sales volume. The property is scheduled to open in late 2021. The Pendry Residences is a collection of fully furnished homes ranging in size from 448 square feet to 2,600 square feet.

"Over the past 30 days, our sales have wildly exceeded our expectations. We are seeing a surge in demand from people that are looking for an escape from the urban centers and in buying second homes in drive-to markets," Brian Shirken, president at Columbus Pacific, the developer behind the project, tells GlobeSt.com. "Most of our buyers are from Southern California right now, and we have seen that a lot of the buyers have come out to Park City this summer for the first time. They have decided that the summers in Park City are even better than the winters, and they would like to have a place in Park City where they can spend more time. We are seeing a tremendous amount of activity right now."

The pandemic did impact sales initially, but demand surged again in May and June. "When the pandemic hit in mid-March and the mountain shut down, our sales shut down with the mountain," says Shirken. "Our sales through the winter were slower than what we would have expected. However, our sales overall have significantly exceeded our expectation, so we have never been too concerned because we are ahead of our sales projections since the beginning."