SUNDANCE, Utah — Sundance Mountain Resort is being sold, founder and current owner Robert Redford announced Friday.
Redford is selling the property to Broadreach Capital Partners and Cedar Capital Partners, according to a press release. The deal also includes an agreement to preserve land in the area.
"As stewards of this unique place, it has always been my vision that the Sundance Mountain Resort would be a place where art, nature and recreation come together to make the world a better place – now and in the future," said Redford, who founded the resort in 1968. "Change is inevitable, and for several years, my family and I have been thinking about a transition to new ownership for the resort. We knew that at the right time, and with the right people, we could make the transition."
The sale agreement will put an area of more than 300 acres under permanent protection. Located at the base of Mount Timpanogos, the Redford Family Elk Meadows Preserve includes "pristine wildlife habitat," streams, meadows and wetlands.
The new owners are committing to "slow, thoughtful, low-density, and measured growth" and "a central commitment to sustainability in all its forms," the press release said.
The sale does not include the Sundance Institute, Sundance Film Festival, Sundance Catalog, Sundance TV or the Redford Center.