Below is our recent interview with Richard T. Wolper, Co-founder and CEO of the Mark 25 Companies:
Q: Could you provide our readers with a brief introduction to your company?
A: My name is Richard T. Wolper. I operate the Mark 25 Companies, which are 12 companies that interact to deliver products and services related to land acquisition, entitlement, vertical and horizontal development along with providing general contractor services in areas of structural/site concrete, excavation, landscaping, and sprinkler services. We also operate a large wholesale tree farm, Black Rock Trees, in Northern Idaho that specializes in mature trees over 20 feet tall. The trees and shrubs from Black Rock Trees beautify our many projects and are in high demand from other developers.
We also own and operate a luxury hotel called the Black Rock Mountain Resort that has a popular fine dining restaurant called the Overlook and a bar featuring live music called On the Rocks. The final phase of our resort will include an NHL regulation hockey arena and feature a state of the art gym focused on the needs of professional athletes.
Q: Can you give us more insights into what makes your company unique?
A: Most real estate development companies do not have the ability to self-perform so many components of the real estate development process from entitlements, excavation, and vertical improvement installation (utilities, water, sewer, concrete, and the like.) Our ability to self-perform enables us to tackle projects on land that would not otherwise be feasible for developers lacking this ability.
Q: Any highlights on your recent announcement?
A: We recently closed on a $48 million Commercial Property Assessed Clean Energy (CPACE) green energy funding for the Black Rock Mountain Resort. The resort qualified for this specialized funding because of improvements related to energy efficiency, renewable energy and water conservation. In particular, the ice sheet at the arena will generate energy each time it refreezes and this energy will be used to heat and cools the resort pools and commercial areas. D.A. Davidson’s Special Service District Group organized this critical CPACE green energy financing for our resort.
Q: Can you give us insights into your products?
A: Our Black Rock Mountain Resort will be among the most unique properties in the United States with its 250 rooms and suites, restaurants, pools, members’ lounge and it’s 139,000 square foot NHL regulation sized hockey arena and event center. The Resort has also recently committed the majority of its rooms and function space in support of Salt Lake/Park City’s bid to host the 2030/2034 Winter Olympics.
Also, over the past several years we have been among the largest sellers of multifamily housing in the Park City area. Our success has been due in large part to our ability to self-perform much of our development and to acquire properties more economically than developments located in Park City proper. We offer the same top quality finishes available in Park City but at a significantly less expensive cost.
Q: What are some of the main objectives for your company in the year ahead and how do you plan to achieve them?
A: Our main objective for the coming year is to substantially complete the Black Rock Mountain Resort’s remaining balance of 250 units, the event center, another restaurant, luxury spa and other resort amenities. We also aim to make significant progress on the following projects: Fiddlers Canyon Hills in Cedar City featuring 331 townhomes and 72 additional multifamily units; Black Rock Estates (aka Wakara) located on the east side of the Jordanelle Reservoir in Wasatch County, Utah featuring 180 luxury home sites with unparalleled views of Deer Valley, the Jordanelle Reservoir, Mt. Timpanogas, and the Uinta mountain range; as well as our 60 acre development at the northern east bench of the picturesque Heber Valley.
Q: What is the best thing about your company that people might not know about?
A: While I am often out front in dealing with the general public and the community, it is really our dedicated team that has been critical to our success. Most of our key team members have been with me from the very beginning-I am truly humbled and grateful for all the support they have given to me and my family over the years.Activate Social Media: