Some elected officials are considering slashing Jackson’s largest affordable housing development of some 200 proposed homes by around 80 to make the multimillion dollar project more affordable.
“I would be happy with a [similar] configuration,” said Jackson Mayor Arne Jorgensen, “at a much smaller scale, maybe 60% or 70% of that size.”
The Town of Jackson does not have the funding to subsidize a project of the original scale, councilors said at a July 20 meeting. That came a week after the town and county voted to stop plans with Pennrose, the private developer they selected in 2024.
Pennrose had put the price tag at about $170 million, including the $28 million the town and county already spent on the land. But a majority of both boards worried too few of the homes would be affordable. Some have suggested the local government could get a better deal by developing the homes themselves.
The Jackson/ Teton County Housing Department has historically played such a role, such as at The Grove in midtown. Director April Norton has said she is open to the idea but not at the expense of public-private partnerships.
Teton County Commissioners have not publicly discussed the matter since a joint July 14 meeting, but several say they want to start talks soon.
Commissioner Wes Gardner said he plans to pitch a new format for financing with bonds on Aug. 3. Board Chair Mark Newcomb thinks progress can be made before a new board is sworn in.
“We need the housing sooner rather than later,” Newcomb told KHOL, though he acknowledged: “There’s some very vexing questions that we do have to answer.”
Newcomb and Gardner are both up for re-election next month. They face two Democratic challengers who received endorsements from Shelter JH. The housing nonprofit is also “recommending” Luther Propst, a third incumbent who also voted to end the deal with Pennrose.
Scaling back the project could mean that collections of homes go up in chunks on the publicly owned 5-acre parcel. Some councilors want to see more data on community needs like home sizes, prices and rental-versus-ownership options. Those details could come from a Jackson Hole Community Housing Trust survey put out this spring. The trust is still in the process of releasing its findings.
Other electeds are still seeking basics on cost and funding.
Jonathan Schechter is calling for a full post-mortem on the negotiations with Pennrose. But others say the urgency of building means there’s no reason to delay.
“I think the community deserves progress,” said Councilor Alyson Spery, who voted in the minority to continue the partnership with Pennrose.
The region needs at least 2,000 new below market homes in the next few years to keep 60% of workers living locally, according to the 2022 Teton Region Housing Needs Assessment.
Newcomb said he’d like to convene a community summit. Gardner said he’d like revenue projections from consultant Tim Nash. A majority of both boards appear to agree that there’s no need to wait until January’s swearing in to make progress.
The housing department hasn’t yet received direction from either board.
