Tag Archive for: Teton Village

Teton Village Update

 

Teton Village Update – April 22, 2008

  Actually the Tram Tower is no longer there….but a new one is being built!

 

The update at Teton Village: What has happened since the March report? The ski season at the Jackson Hole Mountain Resort will go down as one of the very best. Highlighted by over 600 inches and a base of over 100 inches skiers were delighted by quality skiing all season. Next year will be the debut of the new Aerial Tram so we will be excited about the 2008-2009 season too. With that said – we have had it with winter! Bring on Spring!

Real Estate News – There have been 3 closings since March 1st. A Four Seasons Resort Penthouse for $4,500,000, a new "Timber’s" Free Standing Townhome for close to $3,400,000 and an older condo that sold for close to $1,600,000. The last month of skiing proved to be fairly active on the sales side as there are 9 Pending transactions with an average list price of $2,260,000. This includes 2 Granite Ridge Lodges and 1 Four Seasons Penthouse.

The 9 Pending Transactions sound great but the real news is in the available active inventory — 54 Active Listings. The median active listing price is $1,995,000 so there is a lot of inventory priced in the "millions" category. Average Days of Market is climbing and is at an average of 157 days (that’s an entire ski season!).

Overall the Teton Village Market is a strong Buyer’s market. There are a lot of condos and townhomes to choose from and there are probably many Seller’s willing to negotiate. The biggest issue with the available inventory is that the prices were set when the market was much more active. Now we do not have Buyers and the pricing is at pre decline pricing.

If you would like information on:
Teton County, Idaho – please visit: www.tetonvalleyexperts.com

Jackson Hole, Wyoming – please visit: www.jacksonholeexperts.com

Recent Real Estate Developments in the Jackson Hole

Over the past month there have been several real estate developments moving through the approval process in the Town of Jackson and Teton County, Wyoming.  I will use this post to update many of them.  If you have any questions about these developments or others that you have heard of please do not hesitate to give me a call at 307-413-5243 or email me.

1.  28 unit development in East Jackson:  Yet to be officially named, this development takes place in East Jackson on 3.35 acres between Rancher Street and Nelson Street.  The planned unit development is proposed to be 145,700 square feet in size which includes 8 single family residences, eight duplexes, and four townhomes.  The development requires affordable housing for 9.79 people and the developer generously is providing affordable housing for 10.  This particular property is in a very attractive location and the developer has a great track record.  It should be a very attractive property with landscaping, sidewalks and a good neighborhood feel.

2.  The Snake River Brewery and Restaurant is expanding!  The "Brew Pub" will be expanding by 2,300 square feet and will include a second floor outdoor deck, new bathrooms (desperately needed!) and an upgraded kitchen.  Congrats and good luck!

3.  A Developer is planning on developing the property that is currently the Painted Buffalo.  The development will be 151,000 square feet in size and will be of a mixed use.  Most of the space will be a new 155-room luxury hotel, spa and fitness center, conference space, restaurant, bar and limited retail space.  The proposed plan calls for a 4 story building.

4.  A beautiful new property is going to be built on the corner of Pearl and Jackson.  The new building will be 31,000 sq feet is size and will be of mixed use.  Retail/Commercial space will be on the first floor with a mix of affordable, employee and free market "lofts" will be on the 2nd and 3rd floor.  The units on the 3rd floor are incredible and should be in big demand when they are released.  The parking will be underground.

5.  A major development was proposed in the county by 3 ranching families – Lucas, Von Gontard, and Robertson families.  The application consists of 692 acres with up to 315 homes.  The acreage is located in 3 different areas – South Park (across the street from 3 Creek Ranch), Hog Island (next to the WYDOT building) and Game Creek.  The property in Game Creek would transfer development rights to the other 2 properties.  Preliminary plans show the South Park property would contain a total of 181 homes – 107 market homes and 74 deed restricted units.  The Robertson property would consist of 128 total units with 33 free market, 11 affordable, 48 PUD affordable and 36 PUD affordable market homes.  This looks and sounds much better than the awful Teton Meadows plan.

6.  There is a lot of new development taking place at Teton Village.  Most recently the Little Nell hotel went before the planning commission for its first hearing.  Little Nell, a project of Terra Development Group, would be a 50 unit condominium-hotel.  The 121,000 square foot hotel includes a conference room, a spa, 3,500 square feet of retail and a 5,000 sq ft restaurant.  The property is 1.3 acres in size.

I hope you found this information informative and easy to read.  Please visit www.JacksonHoleExperts.com if you would like additional information.

 

The Bar BC Ranch

 

 
One of the most exclusive properties in Jackson Hole and for that part the Rocky Mountain region is the Bar BC Ranch. I wanted to take a few moments to update the recent activity on the Bar BC Ranch and at the same time just give some general information on the ranch itself.
 
The Bar BC Ranch is one of the premier ranches in the Rocky Mountain West. With a rich history, spectacular scenery and quiet ambiance, the ranch is one of the most unique real estate offerings in the Jackson Hole Valley. Located in the “Spring Creek Valley” and atop the “Gros Ventre North Butte” the ranch and its’ real estate offerings are arguably in the best location in the valley. Each property has access to the Snake River and has remarkable Teton views. With a limited number of 35 to 50 acre home sites carefully placed on 1,400 acres, Bar BC Ranch is an understated retreat that respects the environment and maintains the natural habitat for elk, moose, deer, and native cutthroat trout.
 
Investors, Home Builders and Land Buyers that are looking for an exclusive location in Jackson Hole have found that Bar BC Ranch is a special place. Bordered by the Snake River (west) and the Gros Ventre River (north), homesites feature rolling hills, meadowlands, and the outstanding Teton views. The Bar BC Ranch is close to downtown Jackson and Teton Village but is far enough off the beaten path to give homeowners and resident wildlife a sense of seclusion. There is even an 11 acre pond located on the property where trumpeter swans and waterfowl have taken up residency.
 
During summer of 2007 there were 2 closed sales and there is currently 1 pending transaction. Initially the Ranch offered 19 lots of which 9 are either sold or are pending. The remaining ranch sites currently available are: The 6,000 square foot Ranch Estate House on 70 acres along with ranches 1,5,6,7,9,11,12,13 and 14. The ranch offers a paved road system, underground power and utilities, and a water system. Price range of remaining inventory $5,900,000 – $17,000,000.
 
For more information please feel free to contact the Gillespie Real Estate Team at Sotheby’s International Realty