High Star Plans $100 Million Bond Sale for Luxury Utah Resort

Another developer is turning to the tax-exempt bond market to fund the foundational infrastructure for a new luxury housing-and-retail project along Salt Lake City’s booming ski-resort corridor.

High Star Ventures Development plans to sell $104.5 million of unrated debt this week, with Piper Sandler as underwriter. Proceeds will finance water and sewer lines and other utilities to ready land for the project east of Deer Valley and less than an hour from the Salt Lake City International Airport.

The offering follows other high-end, mixed-use communities that have sprung up in the area, tapping the municipal-bond market, as the Deer Valley ...