Under Construction: Jackson Street Apartments

This partnership with the Cumming Foundation and Teton County will create 57 rental homes - 113 bedrooms - for local working families and individuals. The Cumming Foundation is contributing six lots, all of which are in the lodging overlay, valued at $11,500,000, and is investing $10,000,000 into the development. Teton County contributed four lots, valued at $5,600,000, and $5,000,000. The Community Foundation of Jackson Hole joined the project in June 2022, serving as a conduit for Teton County's land and financial investments through the creation of a Designated Fund and investment in the Development's multi-member limited liability company. 

In addition to creating 57 permanently deed restricted apartments, Teton County will also receive 15 rights of rental for its employees. 

Affordability

57 homes total, 84% Affordable, 16% Workforce.

• 12 Affordable 0-50% MFI
• 28 Affordable 50-80% MFI
• 8 Affordable 80-120% MFI
• 9 Workforce 

Projected Project Funding

• $14,400,000 - Projected Public Funding (land + cash)
• $25,300,000 - Projected Cumming Foundation Funding
• $14,000,000 - Below-Market Debt Provided by First Republic Bank & Guaranteed by the Cumming Foundation 
• $53,700,000 - Projected Total Project Cost 

Next Steps

• Groundbreaking: July 2022
• Phase 1, Buildings 4,5,6,7,8,9: Estimated completion January 2024
• Phase 2, Buildings 1,2,3: Estimated completion December 2024

Updates

• The Town of Jackson will be applying dust control on the gravel portion of the street. From Town Public Works: "No traffic will be allowed on the dust control product until it is absorbed and dry on the gravel. Motorists, Bicyclists and Pedestrians alike are advised to seek alternate routes in the vicinity of this construction activity. Please be aware of, and obey all construction notification, detour and parking restriction signage as it is there for your safety and the safety of the construction workers."
• Jackson Street will receive its asphalt paving when the State of Wyoming DEQ has filled in and properly abandoned the old 8 or 10 existing wells in the right of way. This work is being coordinated between the State and Town of Jackson. Shaw will pave the street once given the green light from the Town.
• Buildings 1 and 2 on the south side of the project will be tying into the water main on W Kelly Ave in the second week of July. This will require excavation into the street and patching back of the asphalt in that right of way along with curb and gutter installation. We will continue to update you all as this progress.
• The dust tarp was a temporary means of dust mitigation for the temporary dirt pile on the Southwest corner of the property. The tarp was removed so the earthwork team can use that material for backfilling the foundations of Buildings 1 and 2. Once that work is complete, the pile will no longer exist!
• Shaw Construction will be replacing the water main on Jackson Street between West Kelly Ave and West Hansen Ave from Monday 5/15 until Monday 5/22. The street work will require a full closure of Jackson Street between those two avenues for those 7 days which will disrupt traffic. Concrete curb and gutter will be replaced on Jackson Street and West Hansen Ave after the waterline replacement is complete. Thank you for your patience! Please find the traffic control plan here.
• Hansen Street to the north of the development will be closed for road work April 26-May12, 2023.
• A neighborhood meeting at the site was held Thursday, August 18, 2022 during which the construction team was available to answer neighbor questions.
• Shaw Construction removed the jersey barrier from the southwest corner of the site to improve sightlines.
• The red house located on the northwest corner of the site was relocated on Thursday, July 28, 2022.