James Reinert, a developer based in Jackson Hole, has proposed a deed-restricted affordable housing plan for 500 homes south of town made up of 125 traditional affordable homes and 375 units of “Homestead Ownership.”
He is proposing to limit the price of property deemed Homestead Ownership by limiting the pool of buyers. To qualify for one of these deed-restricted lots, a person will have to work 1,500 hours a year in Teton County and agree to own only one residential property.
“My goal from the beginning was to create affordable housing for people living and working here and to try to bring people back,” Reinert said. “It’s something that might really make a difference here in the valley.”
As more and more locals buy property in Alpine and Teton Valley, Idaho, many in the town of Jackson fear an even greater labor shortage and a loss of a sense of community.
To learn more about Reinert’s proposal, read , Group seeks 500 homes, Developer proposes a new kind of affordable housing in Jackson Hole from the Jackson Hole New and Guide.
Without knowing any details other than what’s in the article, this sounds like a pretty cool idea. It’s good at least to see someone who is attempting to address the issue of locals being priced out of mountain towns, something that is occurring throughout the west.
If the prices of the “Homestead Ownership” properties were to actually be affordable, it would help. I have not heard many details about this proposal, but will pass along any new information that I receive.
Here is a follow up article in today’s Jackson Hole News and Guide, Reinert assembles experienced Teton Meadows team