Jackson, WY

There usually seems to be a lot of discussion here in Jackson surrounded by the affordable housing crisis and this week is no different. With traditionally low inventory levels and high prices buyers here in Jackson are limited to what and where they can invest in their future. Enter Teton Meadows Ranch located on the South Park Loop Road. Chicago based developer, James Reinert has proposed to up-zone this large parcel, about 336 acres to allow for roughly 500 housing units to be built on 288 acres of the lot. Some will be traditional affordable with a siginificant portion enrolling into a hybrid deed restricted offering known as 'gap' housing where the individuals qualify under a certain income and asset class, yet cannot afford the 'free-market' properties available for sale througout Teton County. Rough price estimates for gap housing will be between $400-750,000. What troubles me is the release of #100 single family FREE MARKET lots situated within this development that will significantly increase our inventory levels and balloon our absorbtion rate, two factors which help to keep our real estate market vibrant and active.

South Park neighbors in Melody Ranch, Single Tree, Rafter J, Fishing Club are opposing this up-zone for warranted fear of traffic increase, permanent damage to wildlife and scenic corridors and loss of nearby property values. Supporters are voicing their concerns over work force housing, smart growth and the ability to offer a steady flow of affordable units to our teachers, fire fighters, police officers and various service industry employees.
Here is the TMR link: http://www.tmr-jh.com/ And Teton County Comprehensive Plan: http://www.jacksontetonplan.com/

TMR will have their first Planning Commission public meeting on February 11 and I will check in next week with some reactions.

Rumors: Hostel X at the Village is in escrow- pricing is all over the board. First I heard high $20M's, then I heard more like $15M- who knows, but that is a lot of money for a bulldoze. Sounds like the Buyers are from Aspen.
Snow Report: Waist deep all last weekend if you knew where to ski, 397" of snow this season to date with reports of 16" new last night with some more on the way for Saturday.

Hello from Jackson, Wyoming. That's right for you out-of-staters it is Jackson, not Jackson Hole Wyoming.

The area was named Jackson Hole back in 1829 by William Sublette, one of our famous mountain men and a partner of David Jackson, who Sublette named the valley for.

Jackson is surrounded by mountains on all sides forming a large valley or hole, thus, the name Jackson Hole.

Jackson Hole lies in the northwest portion of the state of Wyoming and in the central portion of the headwaters of the Snake River. The valley is about 400 square miles (48 miles long and six to eight miles wide) and lies a few miles to the west of the great Continental Divide. Only 2.7% of the valley is private and develop-able. The rest of the valley is under some degree of conservation easement or is dedicated as wilderness areas, National forest or the Grand Teton National Park.

Jackson Hole was once a major crossroads in the days of the fur trade; six major trails converged like the spokes of a wheel with Jackson as their hub. Today, it is the gateway for millions of tourists visiting nearby Grand Teton National Park, Yellowstone National Park and the National Elk Refuge.

Jackson is home to over 9,000 and Jackson Hole is home to over 15,000 people who love blue skies, scenic views and the great outdoors.

It is easy to distinguish our fair city from the large valley it lies within. At the entrance of our town square you will find large arches of shed elk antlers.