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Property taxes – and lawsuits – are piling up for this Canyons Village ‘condotel’

The owners owe about $373,000 in taxes on two properties, while facing lawsuits after years of construction delays on one of them.

(Francisco Kjolseth | The Salt Lake Tribune) The Ascent, a condotel in the Frostwood Village area below Canyons Village at Park City, remains under construction, Friday, Jan. 30, 2026.

(Francisco Kjolseth | The Salt Lake Tribune) The Ascent, a condotel in the Frostwood Village area below Canyons Village at Park City, remains under construction, Friday, Jan. 30, 2026.

The owner of an unfinished condo-hotel near Canyons Village hasn’t paid property taxes for the past year on it and another nearby property, accumulating a bill of around $373,000, according to county records.

Wolfgramm Capital, a Texas-based real estate investment firm, owns The Ascent Park City and Waldorf Astoria Park City at the base of the Frostwood Gondola, via companies with the branding of Beehive Hospitality. The Waldorf Astoria has been open since 2009, but The Ascent is still under construction.

Both developments are “condotels,” where owners can rent their units through the property manager – in this case, Hilton – or through vacation rental websites like Airbnb and Vrbo.

And both have unpaid property taxes from last year.

Summit County Treasurer records show more than $181,000 in unpaid property taxes, as well as more than $10,000 in interest and penalties, as of Tuesday on The Ascent.

County records show about $172,000 in unpaid property taxes, and about $9,700 in interest and penalties, due on the Waldorf Astoria property.

Overall, the two properties have accumulated about $373,000 in unpaid property taxes, interest and penalties, based on a Salt Lake Tribune search of 191 parcels in that database.

Properties with unpaid taxes can go to tax sale, but that is a long process; they don’t become eligible until five years after the first delinquency.

An attorney for Wolfgramm Capital declined to comment Wednesday on the unpaid taxes.

The company behind the development also faces lawsuits over The Ascent, which was initially slated to open two years ago but has missed multiple opening dates.

Those delays sparked a lawsuit from a would-be owner who wants his deposit back, along with two contractors are saying they haven’t been paid.

Millcreek-based JRock Construction sued last month, saying it’s owed around $310,000 for concrete work. Quality Fire Protection – a Woods Cross company that installed sprinklers in the building – said in an earlier lawsuit that it’s owed at least $104,000.

Both have placed construction liens on the property.

(Bethany Baker | The Salt Lake Tribune) The Ascent Park City remains under construction in the Canyons Village area in Park City on Thursday, Nov. 20, 2025.

The developer hadn’t responded to either of those lawsuits as of Wednesday but has replied to a lawsuit file by Gabriel del Rio, a Florida resident who wants to get back his family’s deposit of nearly $165,000 on a unit in The Ascent Park City.

The del Rios initially were excited about adding another investment property to their portfolio, this one close to ski slopes.

The deposit is “a lot of the little money we have,” del Rio previously told The Salt Lake Tribune. But they went from excited to disappointed to panicked as delays piled up and as they didn’t get their deposit back after canceling their purchase contract.

In a response to the suit, an attorney for Beehive Hospitality denied that the company failed to develop the property as promised or that employees said they would reimburse Del Rio’s deposit, though they acknowledged that the deposit hasn’t been refunded.

The response also denies that Phil Wolfgramm – CEO of Wolfgramm Capital – told del Rio via text last November that the deposit was “delayed only by ‘finalizing in financing,’” or that a refund should take an additional 30 days at most, as alleged in the lawsuit.

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