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Condominium Hotel Properties Show Growth In Value & Income Generation

By Andrew Cornish

Condominiums have long been a way to provide Teton County market participants an opportunity to own property without the responsibilities associated with detached, single-family homes.

In 2001, the condominium concept was expanded for the Teton Village market with the advent of the first condominium hotel (condo-tel) property. The condo-tel form of ownership combines the attributes of income from a hostelry front desk with lifestyle benefits such as ski storage services, discounted dining and the prospect of being greeted by name as you check into real estate which you own. Add to these benefits the recent trends of increasing income and unit appreciation, and it is no wonder condo-tels have become an attractive form of property ownership to many.

Admittedly, condominium hotel ownership may not be for everyone, as property access typically closes for a brief period during the shoulder seasons to allow for cleaning and owners may be financially incentivized to make their units available for rental for a minimum number of days each season. However, to many, these points are less significant than the potential for income generation and property appreciation.

Notably, since the stabilization of the market post recession, owners of condo-tel units have received both increased income and property value. Observing sales from Hotel Terra and Teton Mountain Lodge properties, it is noted that the 2015 average sale price per square foot of these units is over 73% greater than their 2012 post-recession low. While review of the data underlying this measure indicates that a small sample size and the recent prevalence of larger upper-floor units has contributed to this growth being an overly-optimistic gauge, the indication of a return to vibrancy for this section of the Teton Village housing market is solid by any measure. Not surprisingly, a positive relationship between value and rental income level is noted when observing that the 32% growth in price per square foot of this condo-tel sample since 2013 roughly parallels the approximately 29% growth in revenue per available room for Teton County hostelry properties that was reported by the Jackson Hole Chamber of Commerce DestiMetric data for this same period.

For information regarding condo-tel and all resort properties, contact the Cornish | Lamppa Realty Group resjh.com/009 or call 307-733-8899

Get to know local restaurateur Gavin Fine

By Keith I. Cozzens

From an early age, Jackson Hole restaurateur, entrepreneur, and co-founder of the Fine Dining Restaurant Group, Gavin Fine, was immersed in the culinary world. Some might say it was his calling.

Chicago & The Passion For Food

Growing up in Chicago in the 1980s and 90s, Gavin was a typical kid. What wasn’t so typical, though, was his penchant for food and cooking, two things that surrounded him throughout his childhood in the city and engrained at home by his parents – mainly his mom.

“When I was eight or nine years old, my mom took me to ‘Mommy & Me’ cooking classes and I was the only boy there. It wasn’t cool for guys back then to be a cook and in the kitchen like it is today, ” says Gavin. “As I got older and a teenager, I was a six-foot dude who couldn’t dunk. I knew I wasn’t going to play basketball, so the whole restaurant thing seemed very interesting.”

At the core of Gavin’s adolescence was a strong sense of family. Gavin’s dad, Dan, grew up in Farmingdale, N.Y. on Long Island and was a rep for an electronics company. His mom, Bonnie, was from Queens, N.Y., and was a talented cook. Family meals were very important, as were chores. And, when their busy schedules didn’t allow for a family sit-down at home, the Fine family dined out – at places like Chicago’s Athenian Room, where Gavin fondly remembers spending hundreds of days as a kid, where“they had the best roast chicken, fries, and gyros hands down.”

The travels and vacations the family went on were added cultural and culinary experiences that helped shape and sharpen Gavin’s interest, love, and intimacy with the food world. On trips, Bonnie made her boys keep a journal, and every one of Gavin’s entries was, yes, about food.

“I could tell you about the best fries in Washington, D.C., or the best burger here, or such and such wherever we were – I liked to eat a lot,” he says.”

With a sturdy foundation for food set, it wasn’t until Gavin met and worked for another Chicago idol of his Richard Melman – the owner of “Lettuce Entertain You” – before college that transformed his life and widened his view into the restaurant business. A restaurant group pioneer, Melman’s innovation, a fusion of food and humor, have remained with Gavin to this day.

Jackson & The Search For The Food Experience

After graduating from Cornell’s Hotel and Restaurant Management School in 1996 Gavin felt the draw of the mountains, fresh air, and less crowds and moved west to Jackson.

Coincidently, one of Gavin’s good friends from growing up in Chicago – Ethan Steinberg – moved out to Jackson that same summer and the two reconnected and lived together for five-plus years.

As many do in Jackson to make ends meet, Gavin worked a few jobs, but during his first four years he was firmly planted at one of the valley’s popular fine dining establishments, the Snake River Grill. Gavin eventfully worked almost every position there. The experience proved to be invaluable, and he met his future business partner, Roger Freedman there.

The itch to learn and experience more led Gavin out of Jackson and into the centuries-old culinary hot spots of Italy and France. Abroad, he absorbed the rich methods, history, and culture of food and drink working at prestigious wineries and vineyards – and there he was first exposed to the European Bistro culture that inspired ideas he would bring back to Jackson.

Furthering his research of Bistros, Gavin toured New York City’s famous haunts – like Balthazar in SoHo – that helped launch the Bistro culture in the U.S. Gavin’s wheels were now spinning with concepts of what the Jackson dining scene was missing.

With the late-90s economic boom, there was a void in the restaurant scene in Jackson between high-end cuisine and fast food – and Gavin wanted to change that. On July 17, 2001, he opened his first of six restaurants with the classic Rendezvous Bistro.

“Everything was under $20 on the menu, and we had 100 wines under $30. We were amazingly successful right off the bat,” says Gavin. “The goal was to take the intimidation factor away for younger people going out and offer great food and a great experience Billionairs were mixed with ski bums. Everyone got the same service.”

Putting The Fine In Dining

With the success of the “Bistro” running high, a few years later Gavin and Freedman started the Fine Dining Restaurant Group.

“Steinberg came up with the name, and at first it was a joke, but it just stuck and it works,” jokes Gavin.

Seeing opportunity to fill a needed gap in the Jackson dining experience, Gavin and Freedman established a variety of restaurants and a catering company in the valley that all serve their own unique purpose and culinary focus – Q Roadhouse (2006), Bistro Catering, Il Villaggio Osteria (2008), The Kitchen (2011), Bin22 (2013), and Bodega (2015). The family of restaurants serve are a cornerstone in the Jackson community, and, despite each location possessing its special vibe, one mainstay holds true: you’ll be treated like family.

“We have core standards that translate across every restaurant, and we want our personality to come out. We approach what we do as welcoming people into our home, and that’s how we teach it. When we open the doors, we hope people feel that warmth and want to come back – that’s an uncompromising theme here,” says Gavin.

In 2013, Gavin was awarded the Teton Board of Realtors’ Business Person of the Year. With roots growing deeper in the valley each year, Gavin’s young days at ‘Mommy & Me,’ his global travels in pursuit of culinary enrichment, and an unwavering entrepreneurial mindset, have helped shape him as a person and create dining experiences in Jackson that wouldn’t have existed without his – and his colleagues’ – visions.

“I’m constantly trying to look at what the needs are here in the valley from a dining and culinary experience.” says Gavin. “I’m super proud of the people and restaurants in the valley here doing an amazing job.”

No Slowing Down

This year, the Bistro celebrates its 15-year anniversary – a milestone for any restaurant. And, Gavin’s a family man now too, with wife Lea, and two boys Bode (7), and Jake (5).

Perfecting the work-life balance is an art – and the successful restaurateur seems to have mastered that – but there’s no sign of slowing down. Gavin and his team are currently constructing a 10,000-square-foot facility that will house Roadhouse beer brewing, Cream + Sugar artisan ice cream, and The Blind Butcher – slated to be the state’s first USDA plant where all meat is sourced locally and regionally. All will be distributed nationally starting in 2017.

“Balancing your life is key, and if you’re out of balance, well, you’re out of balance,” says Gavin. “I love challenges and I really try and connect with every employee and customer the same way I did 15 years ago. The Jackson food scene has come a remarkably long way, and I’m just excited to be a part of it.”

Abandoning Your Current State May Take Some Work

By Kathy Zelazny

Many people who visit Jackson Hole fall in love with the spectacular scenery and wildlife that the Valley has to offer. When they find out that Wyoming is an extremely tax friendly state, with no individual or corporate income tax, no estate or gift tax, and a relatively low property tax, serious thoughts of settling down in Jackson Hole arise. Because Wyoming does not have an income tax, the Wyoming Department of Revenue does not have a formal definition of residency for tax purposes. Residency is often determined through other administrative agencies, such as Wyoming Game and Fish for the purpose of issuing hunting or fishing licenses. Therefore, establishing residency in Wyoming is easy. Where the challenge arises is in breaking ties with the state where you currently reside.

Trying to move from New York to Jackson to escape high taxes?  The New York Department of Taxation and Finance will inform you that your domicile there won’t change until you can demonstrate that you have abandoned it.  You can only have one domicile at a time.  Domicile in New York is defined as the place where you intend to have a permanent home; where your permanent home is located; the place you intend to return to after being away (as on vacation, business assignments, educational leave or military assignment).  New York considers you a resident if your domicile is New York or your domicile is not New York, but you maintain a residence there (whether you own it or not) for more than 11 months of the year and you spend 184 days or more in New York during the tax year. Those 184 days can add up quickly, as partial days count toward that total. Additionally, keep in mind that spending the night in New York counts as 2 days.

Want to get away from California’s burdensome tax system? The California Franchise Tax Board considers residency as primarily a question of fact determined by examining all of the circumstances of your particular situation. They will look at such factors as: the amount of time you spend in California versus outside of California, the location of your spouse and children, the state that issued your driver’s license, where your vehicles are registered, where you maintain professional licenses, where you’re registered to vote, the location of banks where you have accounts, the origination point of your financial transactions, the location of your doctors, dentists, accountants and attorneys, where you have social ties (place of worship, social or country clubs, etc.), the location of your real property and investments and the permanence of your work assignments in California. Like New York, California is known to be extremely aggressive in pursuing its former residents who have moved to tax friendly states seeking relief.

It can be well worth the effort to move to Wyoming to enjoy its beauty and rugged wilderness and save big money on taxes.  Just make sure you take all of the necessary steps to properly cut ties with that high tax state you’re trying to escape or you may end up carrying that tax burden to Wyoming with you.

Kathy Zelazny is an attorney practicing in both St. Helena, CA and Jackson, WY, where she is of counsel with the law firm of Mullikin, Larson and Swift LLC. Ms. Zelazny is a graduate of Duke University Law School and has her Master of Laws Degree (LL.M.) in taxation from New York University.

An in-depth look at fine spotted cutthroat fishing in Jackson Hole

By David Riley Bertsch

WE’RE LAUGHING. Cracking up really, because the fishing is just that good. It wasn’t supposed to be like this. It was too early. May-something. The water was too cold and the kind of milky green that only a Steelhead can love. There were no bugs whatsoever. It was our first day of the season floating the Snake River in Grand Teton National Park, and we’d primarily set out to see what had changed during runoff – which channels had closed, which old ones may have re-opened, and where a new deadfall might attract a day-making fish. As for catching, our expectations were low.

You know what they say about the best-laid plans. It was good. Darn good. Like fifty some native fish on big garish dry flies kind-of-good. As we drive back to town, the cathedral group towers to our west soaking up the last rays of sunshine. A mama moose nudges her calf away from the road. I ask myself: Can it get any better?

I was stumped.  Still am, in fact.

The Snake River is a gangly serpent indeed. From its origins in Yellowstone, it slithers southwest over ancient bedrock, touting various world-class fisheries along its course: trophy trout on the South Fork, smallmouth bass on the main stem, and finally, near its confluence with the mighty Columbia, steelhead, salmon and the prehistoric sturgeon.

Each of these fisheries stand out in their own right, but perhaps none so virtuously as the Upper Snake in its reaches from Jackson Lake Dam to Palisades Reservoir. Here, a vibrant knickknack of a fish lives on – the Snake River Fine Spotted Cutthroat. According to fossil records, Cutthroat trout have existed in the Snake River drainage for somewhere in the range of 4-5 million years, and thus have endured the perils of an ever changing climate, logging, fur-trapping, gold-mining, industrialization and over-fishing. Still, on an August day with grasshoppers beating their wings amongst the streamside willows and Pale Morning Dun’s dotting the slicks, you might start to wonder if these colorful bantam-weights even noticed we were here.

 

As a destination fishery, the Upper Snake still gets its fair share of flak. The river is a black sheep among rocky mountain tail waters, compared to engineered eco-systems that fatten and strengthen stocked fish. Below Jackson Lake dam, the Snake fishes as it historically should – like a high mountain freestone river, and all the good and bad that go with it. Fine-Spots are recurrently persecuted for their size — a good one is 15 inches and up — and they’re not always the scrappiest fighters in the world.

But to accurately weigh a Fine-Spot, one must consider all of its attributes. Plentiful? Check. It’s not uncommon for a good angler fishing out of a boat to catch forty-plus fish in a six-hour day. Beautiful? Check. See exhibit A. Surface oriented? Check plus. In one hundred days of fishing the Snake per year, I can basically count the fish I catch subsurface using fingers and toes.

I don’t mean to suggest the Snake River is fool-proof, but armed with the right gear and information, it may very well leave you to wonder, Is there anywhere better.

How

Let’s get one thing out of your head: Snake River Fine-Spotted Cutthroats are not exactly easy to catch. Because reproduction is strong, anyone with a hackled hook between sizes two and twenty-two and a bottle of gink can wade into a calf-deep riffle and tear the yearlings up on the Snake. There’s nothing wrong with that, if you are using barbless hooks. The larger fish, even those just 12” and above, can be somewhat enigmatic, particularly to anglers who are more acquainted with browns and rainbows.

Bigger Cutties are lazy coots for the most part, preferring dawdling currents and deep holes to ripping banks and heavy pocket water. Remember that the Snake is generally cold and well aerated, so its trout aren’t forced into the fastest water. As a result, deep, soft insides and slow banks are moneymakers. A dry-fly cast into what you think is no-man’s land might just get annihilated if you leave it long enough. A large fine-spot needs time to mull over your presentation in slack water, waiting to make sure he’s not being duped. In this situation, it often pays to let the 6 inchers eat and spit out the fly without setting the hook.

One exception to the slow water rule is where currents of varying speeds collide in a current seam or fast pour-over. These areas appear raucous from the surface, but thanks to a phenomenon called a hydraulic jump, a calmer swirling flow develops beneath and just downstream of the collision point. Large Cutties love to call these “jumps” home. Chuck a foam hopper into the chaos and hold on.

Perhaps the most rewarding way to catch larger Cutthroats on the Snake is spotting and stalking in skinny side channels. This requires a measure of finesse reminiscent of spring creek brown trout fishing. Leave the foam flies in the boat, and only bring along finer tippets and low-profile mayflies in the #14-18 range. An 18 inch trout will happily live in a channel narrower than your wingspan, especially if there is spring influence or an easy escape route nearby.

Walk carefully upstream, wade only when necessary, and assume a safe casting range is about twenty-five feet. These fish eat slowly and deliberately and you will only have one – maybe two – shots, so make it count. It’s safe to say that a large portion of the trophy fine-spots from the Snake are caught under these circumstances on small dry flies.

On the subject of flies, I rarely fish anything that isn’t foam or a parachute-style mayfly. Sure, there are exceptions, and we all have our favorite secret flies for picky fish (ahem, small Formica imitations), but for the most part a Chubby Chernobyl style Ant between size 6 and 14 and a selection of smaller parachutes in various tones will do the trick.

For foam flies, I much prefer those with a dubbing body than segmented foam body types. The untidy fibers furnish a buggy look that segmented foam lacks. Purple, red, pink and gold are my favorite colors, and the patterns I use almost always include some element of sparkle in the dubbing and tail. UV dubbing never hurts. A high-vis antron wing is helpful for the some fisherman, but there are times when I find a lower sitting fly to be more effective. Variations on the Chubby Chernobyl like Will Dornan’s Water Walker and Circus Peanut can outperform the basics on tough days. I usually fish these flies on the small side — #10, #12 or even #14 if I can find them, especially later in the season.

At times when I find an even smaller fly necessary, my go-to is a  Borcher’s Parachute Moose Tail.  This fly is essentially a Parachute Adams, but with a darker tail of moose hair, a segmented body and a more fibrous dubbing that lends a buggy, disheveled look. From sizes 10-20, it can reasonably imitate any hatch on the river.

If things really need fine-tuned, I’ll fish a Tilt-Wing Pale Morning Dun, or a Brooks Sprout Emerger to imitate the plentiful Mahogany Duns. Both of these parachute-style flies float well and are reasonably visible.

The most important thing on the Snake is to not overthink your fly choice. Try foam in likely water and if you aren’t satisfied, go with the Moose Tail. If you see sippers and/or keep getting refusals, tie on a more specific mayfly pattern.

As for rods, all you need is your 9-foot five weight. A fast action blank helps in the afternoon wind. A nine-foot 3x leader with tippets from 3x to 5x will cover your dry-fly needs — Snake River Cutthroat are not generally tippet shy. Focus instead on your presentation.

When

Weather in Jackson Hole is extremely volatile from Early October to Late June. This is not to say that fishing can’t be outstanding during that time, just that if you are traveling from afar, you could lose valuable fishing time to inclement weather. The safest months as far as weather and water clarity are August and September. July can be outstanding, but if the Tetons receive above average snowfall, the water may still be high and milky green due to snowmelt. Call a local fly-shop before you come to check the conditions. October can be similarly spectacular, but beware of weather and the fact that the Jackson Lake dam’s flows will dwindle at some point during the month, displacing fish and making for at least a few challenging days.

Instead of changing with specific insect hatches, I find the Snake River to vary in general moods. For instance, as soon as the river clears, I will often fish a foam fly in sizes 6-10. As the summer wears on I downsize my foam selections until sometime in mid-August, when I almost always start with a parachute Moosetail, size 14. There are days in early September where I will begin with a Brooks Sprout emerger or a Tilt Wing Dun and go from there.

Most years, the Snake’s Cutties will go back on foam sometime in mid-September as their metabolism increases with the oncoming winter, but this isn’t always the case. If this occurs, I find my best success using flies like the Water-Walker that give the fish a fresh look at foam.

Where

The Snake River can be floated in a drift boat from the Jackson Lake Dam to West Table Boat ramp, south of the Town of Jackson. If you aren’t an experienced rower, a good guide is important – deadfalls and fast current lead to accidents every summer in Grand Teton national Park. Below South Park Bridge, the river slows considerably and is best-fished early and late season when water temperatures make the fish sluggish, or when cloud cover ignites a mayfly hatch.

The most popular fishing sections are the four between Pacific Creek and South Park Bridge, where side channels and plenty of bankside structure offer prime habitat. When runoff blows out the river, the short section between Jackson Lake Dam and Pacific Creek can offer clear water and rising fish.

Pacific Creek to Deadman’s Bar

Starting at Pacific Creek boat launch just inside the Grand Teton National Park Moran Entrance, the Snake is characterized by relatively lazy currents and a single, main channel as it flows south towards Deadman’s bar.. Here, look for fish on messy deadfalls and grassy banks. A mile after the put-in, the river begins to braid. Many of these first channels are too skinny to navigate in a drift boat, but anchoring and wading can be productive. The river then pours again into a single channel, where high gravel “hopper” banks hold good numbers of average sized cutthroats. When boat pressure is high, any medium sized tungsten beaded-nymph 16 inches under a foam dry will pass the time between rising fish against these high walls.

This section, between Pacific Creek and Deadman’s Bar, is over ten miles, so don’t dawdle. The last half of this section features a brisker current, various braids, and several tributaries. This is mayfly country from mid-July until the first freeze. Often, a size #14 or #16 Moose Tail is all you need.

Deadman’s Bar to Moose

The float between Deadman’s Bar and Moose junction is a personal favorite. It is short and fast, but complimented by tributaries, sloughs, spring creeks and riffles. When I fish this section, I expect to spend at least a couple of hours out of the boat, looking for mayfly eaters in calm sloughs and pitching foam flies into crashing hydraulics. In the main channel, almost every bank will produce with a Chubby Chernobyl trailed by a #14 or #16 parachute.

Halfway through the section, the river braids into what locals call “the maze” and really begins to pick up steam, which it will carry almost the entire way to South Park Bridge downstream from the town of Jackson. Many side channels are too shallow or tight to navigate. If you stay in the main stem and follow the boat traffic, you can always anchor and walk back upstream to a good-looking hole. A big trout is not worth your life.

Moose to Wilson Bridge

The lengthy stretch between Moose Junction and Wilson Bridge is your best bet to catch great numbers of large Fine-spots. These thirteen miles of the Snake run through a myriad of side channels, riffles and ebullient banks. Again, a foam fly trailed by a more imitative dry is the go-to. The river here, can be dangerously swift, so be sure to read the water carefully. For whatever it’s worth, The Jackson Hole One Fly tournament is almost always won on this section.

Below Wilson, the river continues at a brisk pace until the take-out at the South Park Bridge.  There is no shortage of larger fish here either, but expect them to be choosy as fishing pressure is heavy .  Also note that in recent years, landowners in this stretch have seen an increase in trespassing and are less forgiving of wayward fisherman.  If you need to anchor and get out, please do so on an island across the channel from a rock-levee wall.  The regulations on exiting the boat between Wilson and South Park are currently evolving, but anchoring on a mid-river island between levee walls is legitimate as of this writing. If a landowner disagrees, apologize and pull anchor quickly so as to avoid stricter regulation in this high-use area.

The sections downstream from town: South Park to Astoria and Astoria to West Table feature slow, long pools punctuated by river-wide riffles. Fish the banks and the broken water with a Chernobyl style ant or a Parachute Moosetail. When there is cloud cover, Baetis, PMD’s and Mahogany duns can hatch in great numbers.

It is possible to float and fish the whitewater section of the Snake River Canyon from West Table to Sheep Gulch, but only with an accomplished oarsmen who is familiar with the river.

Wade fishing is best in Grand Teton National park, where all land is public and boat ramps and other access points provide plenty of opportunity.

Some of my favorite walk-in spots include Blacktail Ponds, just north of Moose Junction, and River Road, which departs off of the interior park road between the Taggart Lake trailhead and the Climber’s Ranch.  Both of these access points feature various spring creeks and tributaries as well, but be aware that seasonal regulations differ between the Snake and its tributaries to protect spawning trout.  Always check the regulations before you go.

Downstream from the National Park, wading is best near the Wilson Bridge on Highway 22.  Two public levees provide access here. In combination, these walking paths provide four miles of good bank access. At summer flows, the Snake in this section is eminently wade-able.  On the East side especially, the river is sinewy and diverse.  Side channels and confluences provide endless holding water.

Further downstream, walking in is easiest via the boat launches: South Park, Pritchard, Elbow and East Table. West Table launch provides decent access, but the area is overrun with launching white-water rafts during the high season.

Surrounding Waters

Jackson Hole is Shangri La for the dry fly fisherman. In addition to the Snake River, there are countless streams and lakes brimming with native fish in every direction. Most of the better water is easily accessible. For starters, try the Gros Ventre or Hoback Rivers and their tributaries. Both of these smaller rivers have excellent park-and-wade access from the roads that follow their course. The same flies and techniques used on the Snake are effective. The Hoback even boasts a Salmonfly hatch in early July. Blacktail Ponds and Flat Creek offer sight fishing to large Cutties, but be aware of seasonal closures.

If you’re feeling more adventurous, pitch a tent high up on the Gros Ventre road and explore its many tributaries. The highlights include Fish Creek, Cottonwood Creek and Crystal Creek.

In Grand Teton National Park, try Pacific Creek and the Buffalo Fork.

When You Go

Jackson Hole is an enormous tourist draw. There are endless lodging options. Stay in town if you want restaurants and watering holes.

Grand Teton National Park hosts comfortable, facilities, and the location is prime for fishing the snake. For more primitive camping, Gros Ventre road has various pull-offs and established campgrounds. Always be aware of bears and store your food accordingly.

There are a dozen or more outfitters in and around the town of Jackson that offer guided fishing on the Snake River.

When you book, make sure the outfitter has permits to fish all the best water. It’s always smart to explain your expectations and experience level to the outfitter before you arrive.

David Riley Bertsch is a fly-fishing guide and writer in Jackson Hole.  He has published two fiction novels, “Death Canyon,” Scribner, 2013 and its follow-up, “River of No Return,” Scribner, 2015.

What Have Local Developers Been Doing Lately

By Andrew Cornish

A look around the Town and County shows commercial construction is underway again in Teton County – cranes indicating that some of these are larger projects. However, the construction of larger buildings may become increasingly difficult as only a few lots remain with entitlements for the Planned Mix Use Development provision of Jackson’s Land Development Regulations – a provision that was recently removed as an option for future developments.   Below is a summary of some of projects that have been ongoing in Jackson Hole:

A New Marriott Hotel

A New Marriott Hotel is located on Simpson Avenue just west of the Community Center for the Arts. The development was originally approved in 2002 as part of an 18-lot master plan for 289,471 square feet of building area which used the now-eliminated Planned Mix-Use Development Option (PMUD) of the Jackson Land Development Regulations. The six-lot site totaling 45,000 square feet was purchased by the current developer in December of 2014. Without the PMUD, the maximum density of development would have been a Floor Area Ratio (FAR) of 1.30. This would have yielded a maximum building size of 58,500 square feet (45,000 x 1.3). However, the PMUD entitlement has allowed for the construction of 93,797 square feet of building area in this location, with 73,000 square feet of this area being dedicated to 121 guest rooms and over 16,000 square feet being dedicated to nine for-sale, top-floor luxury condominiums. All totaled, this building equates to an FAR of over 2.05 on a six-lot site.

A New Office and Retail Building

A New Office and Retail Building is being built at 115 E. Pearl Avenue, across the street and to the west of the Jackson Town Hall. This development continues the trend noted in the Marriott construction of developers taking advantage of expiring PMUD entitlements. This 7,500 square foot lot was developed to a Floor Area Ratio (FAR) of 1.89 when including the affordable housing requirement, a figure significantly greater than the now-allowed 1.3 FAR. When completed in the fall of 2016, this building will total 13,725 square feet of above-grade area allocated between retail and office uses on the first two floors and residential units on the third floor. An additional 5,130 of below grade area will be dedicated for a fitness area and storage use. The market residential units are designed to be between 1,100 and 1,500 square feet, with a deed-restricted employee unit of less than 500 square feet. All of these units are being leased rather than sold initially. The owner / developer plans to lease the commercial space in the property at annual lease rates of between $40 (ground floor retail) and $32 per square foot (NNN).

 

A 15-Unit Work-Live Development

A 15-Unit Work-Live Development is being built at 1200 S. Highway 89 east of S. Hwy 89 and west of the Hidden Ranch Subdivision. A work-live development has both commercial and residential space, but can only be resided in by the occupant of the commercial space (cannot be leased to separate residential and commercial tenants).  The site of this development has a gross acreage of 44,135 square feet with some loss of usable area to Flat Creek.  Through the interpretation of the residential area as being targeted as workforce housing, a total allowed building area to 20,450 was constructed on this site. The units range in size between 1,120 and 2,000 square feet, with the range of 1,120 to 1,540 being most prevalent. An interview with a source representing the development indicated that a price of $500 per square foot would be targeted.

The Caldera House Lodging and Club Facility

The Caldera House Lodging and Club Facility is being built in Teton Village next to the Tram Dock at the Jackson Hole Mountain Resort. Development in Teton Village is unique in that, in addition to the more typical dimensional limitations of floor area ratio, height and setbacks, Teton Village commercial lots are additionally governed by a master plan that has provided each commercial lot with a dedicated amount of lodging and commercial use.

The Caldera House site had been allocated 74 lodging APO’s and 13,359 square feet of commercial area which allowed for the construction of a 53,228 square foot building on a 21,344 square foot lot (Teton Village FAR’s are the highest in Teton County allowing for a building that is 2.5 times the lot square footage). The Caldera House was designed as an upscale dining and ski club facility, with amenities including a state-of-the-art locker room, valet parking and concierge service, high-end spa facilities, and a private après-ski lounge. Joining the club will cost $100,000.   The building will also be allocated into eight private residences ranging in size between 1,500 and 5,000 square feet that will be available as rentals, as well as restaurant and retail space that will be open to the public.

Summer Provides Endless Opportunities for Recreation in the Tetons

By Brigid Mander

Since the winter of 1966, skiers of a certain type – usually those with a particular penchant for an adrenaline rush – flock to western Wyoming to ski the famed steeps of Jackson Hole Mountain Resort. In the summer, overall tourism numbers increase greatly when nearly three million people pass through Jackson, with visitors from all over the world on their way to see the jagged peaks of Grand Teton National Park and the natural wonders of Yellowstone. In the past, it was usually without a second thought for the mountain access the ski area offered.

Over the last ten years, however, that has changed drastically. Although the ski area was born through a 1963 special use permit from the U.S. Forest Service for a resort “specializing in skiing on National Forest Lands,” it is now a growing year-round destination. For decades, the base area village of the ski resort was not much more than sleepy mountain meadows in summer, with only a few curious sightseers out for scenic tram rides and hard-core locals running and hiking to the summit for a workout. Most businesses were closed for the season, and you had to take yourself into the town of Jackson for any kind of social scene, good food, and fun.

Now, thanks to some serious effort on the part of the resort and Teton Village, on any given midsummer day, the village is hopping with a vibrant sports and culture scene for both tourists and full-time residents. Kids jump on a bungee trampoline, people of all ages play on a rock climbing wall and a ropes course (and new this year, a drop tower) while rows of bikes glint on their way up the chairlift to the bike park.

People load the tram for sightseeing and the grab a bite of the famous Corbet’s Cabin waffles (a tradition for visitors and long time residents alike), as well as high altitude hiking and rock climbing. The gondola ferries people up for festive cocktails on The Deck and culinary treats at Couloir restaurant, while on the mountain, hikers, bikers, runners, and Frisbee golf players get after it under a sky often filled with the colorful wings of tandem paragliding flights.

Free concerts on Sunday evenings bring out crowds, as well as the classical Grand Teton Music Festival series, and, because of the increase in people, restaurants in the village now stay open throughout the summer, so people can enjoy choices ranging from Italian to Thai food.

“Teton Village is a hidden gem in the summer. It’s much quieter than town, with nice restaurants open, and all the outdoor sports options – from looking at wildflowers to paragliding – continue to expand,” says Anna Cole, Jackson Hole Mountain Resort spokeswoman. “It’s a great place for locals, families, and it is all super accessible to the mountains. But it still keeps its nice, mellow, vibe.”

The main attraction in summer centers around fun in the mountains. The resort has taken care to make sure people, whether they live here or are visiting, can find their level of adventure all in one spot.

The tram remains the number one attraction, despite the myriad of new options. Summer tram ridership used to hover at under 10% of annual revenue, but now, the access it offers has become so popular that it now comprises over 20% of yearly revenue, according to JHMR spokeswoman Anna Cole.

There are newly built hiking trails around the summit, such as the challenging Cirque trail and Ranger Overlook, on which you can run or hike and enjoy the high alpine environment. The resort is also planning to build a via ferrata, a protected climbing route that will allow visitors the experience of scrambling and climbing over exposed cliff faces and ridges on the upper mountain while clipped into, and fully protected by, bolted cables along the route.

The resort is happy to promote hiking up the 4,139 feet of vertical ascent to the summit – there is no cost for your human-powered ascent. Tram rides back down are free. And, due to new trail building, you can climb the whole length of 6.1 miles of nearly all single track called the Summit Trail. This same route is celebrated each August with the very burly Rendezvous Mountain Hill Climb. This non-profit running race up the trail to the summit, is held in honor of JHMR aerial tram mechanic Chris Onufer, who died in an avalanche in 2012.

If 4,100 feet of vertical ascent is not your goal, beautiful hiking trails exist across the lower mountain, where you can walk over little mountain streams and through thick fields of colorful wildflowers up to your waist. Another local favorite is to hike or run up to the Deck (at the top of the Bridger Gondola, elevation 9,095 feet) for a bite and some afternoon cocktails, and time with friends in the sun above the valley.

A few less physically strenuous, but more adrenaline oriented-options are also there for the taking: Jackson Hole Mountain Resort is constantly working on improving their lift-accessed bike park, with jumps, wooden ramps and platforms, and smooth, flowy banked trails. The bike park has trail for everyone from beginners to those looking to improve their technical skills, and local riders flock to the park for a break from climbing under their own power, especially on Fridays when the resort offers discounted evening tickets.

The resort offers a Grand Adventure Pass, which is a one day pass to the tram (up-ward bound), the ropes course, a new drop tower, the climbing wall, the gondola, and bike park. Not everything costs money, of course: the popular disc golf course, hiking, cross-country biking, and the kid-favorite pop-jet fountains are all free of charge.

On an even higher adrenaline level, Jackson Hole Paragliding operates daily from the top of the gondola and the top of the tram, taking passengers for an average of 15-minutes flight above the Tetons and the Jackson Hole valley.

“We teach about 15 novice students per year,” said co-owner Scott Harris. “But we do about 2,500 tandem flights a year,” he said, for locals and visitors who want a birds-eye view of their mountain playground. “The village has gotten so much busier – and the music brings out so many people.”

Whether you spent the day playing on the mountain or working at an office in town, summer evenings at the village have become a big draw. While the renowned Grand Teton Music Festival (usually held in Walk Festival Hall) is not free, the Sunday evening shows attract a casual crowd of families and people ready to sit in the grass and listen to music. Before or after the concert, the bars and restaurants at the village offer it all, from buying a six pack and a picnic snack at the General Store to the more refined Four Seasons Bar and restaurants.

The mix of residents, visitors, and the myriad of outdoor sports options in a place that is more hidden from the summer crowds make the village the perfect place for a summer day or evening, and offers a great insight into the community and lifestyle that Jackson Hole represents.

What Your Price Range Has In Store for You

By Todd Lamppa

The idea of the Buyer’s Guide is to bring the reader information necessary to make an informed decision. Our hope is that this magazine piques your curiosity and then leads you to the most up-to-the-minute listing data at the Cornish | Lamppa search engine through easily-accessible pre-saved searches. Choosing the price range in which you are shopping along the left margin and following this row through its intersection with the eight submarkets of the Teton Countyreal estate market (listed along the top of the page), it is quickly discernible what neighborhoods are likely to be home to the property you are looking for. It is very important to note in these times of limited inventory this table does not attempt to report currently active listings. However, we could not bear to leave technology completely out of the picture, so feel free to use the abbreviated URLs at the row ends or column headers which access saved searches on the Cornish | Lamppa search engine for your selected price range or chosen submarket area. If active inventory is not in existence for a particular URL, putting the Cornish | Lamppa team to work for you is the best first step you can take to finding your Jackson Hole ideal.

The following chart is general in nature and not a definitive limitation of property attributes or values in these areas.

GTMF Celebrates Ten Years With Director Donald Runnicles

By Brittany Laughlin

Each summer since 1962, the nation’s finest orchestral musicians gather in Jackson Hole to take part in the Grand Teton Music Festival. The seven-week classical music festival presents more than 40 events throughout Jackson Hole with concerts taking place in its acoustically acclaimed concert hall in Teton Village and, in an increasing amount, in the town of Jackson. This year marks the tenth anniversary of world-renowned conductor Donald Runnicles who serves as the Festival’s Music Director. Scottish-born and Berlin-based, Donald embodies the Jackson Hole lifestyle—biking to concerts, hiking with his family, and fitting in pre-rehearsal tennis matches.

To celebrate his important milestone, which the Festival has dubbed “Ten Years in the Tetons,” GTMF is offering up a line-up of classical music’s most influential artists, performing engaging repertoire throughout Jackson Hole.

The festivities begin July 4th with the annual Patriotic Pops concert. A community tradition, Maestro Runnicles conducts American favorites for his adopted country. Later in the week, from his homeland, Maestro Runnicles conducts the National Collegiate Chorale of Scotland for a monumental performance of Beethoven’s 9th Symphony with the Festival Orchestra. Maestro Runnicles will also take the stage as pianist in an intimate concert with mezzo-soprano Kelley O’Connor and iconic cellist Lynn Harrell to perform some of his favorite works.

The Festival’s annual gala concert featuring violin superstar Joshua Bell is July 13th. The must-see event of the season, Mr. Bell joins the elite players of the Festival Orchestra under the baton of Maestro Runnicles for a concert including “Summer” from Vivaldi’s Four Seasons among other beloved violin concertos from Saint-Saëns and Argentinian composer Piazzolla. Internationally hailed as one of the most important artists and a frequenter on the world’s most prestigious stages, Joshua Bell is the pinnacle of the 2016 season.

The entire season presents the best and brightest of the classical music world, including cellist Johannes Moser who makes his GTMF debut with performance of Tchaikovsky’s Variations on a Rococo Theme (July 15th & 16th), a piece that earned him the top prize at the Tchaikovsky Competition. Violinist Nicola Benedetti also makes her first appearance as part of a week-long residency. Despite performing three concerts (including one featuring the virtuosic Violin Concerto by the notable Hollywood film composer, Erich Korngold) audiences will be left wanting more.

This season, the Festival continues its mission of bringing great music to venues throughout Jackson Hole. In addition to concerts at Walk Festival Hall in Teton Village, the Festival offers Free Family concerts at the Teton County Library, a gallery concert featuring the dynamic violinist Simone Porter at Heather James Fine Art, as well an exciting performance at the Pink Garter Theatre with classical crossover trio Time for Three. The classically trained troupe performs a range of music spanning from Beethoven and Brahms to popular hits from the Beatles, Kanye West, and Justin Timberlake. Only in Jackson Hole can you kick back, sip a cocktail, and listen to a world-class performance in a club.

With $15 Day-Of Rush tickets available for most concerts and free Inside the Music and Family concerts, GTMF’s Ten Years in the Tetons offers world-class entertainment and a display of breath-taking talent at a steal. Join in on the celebration July 4th through August 20th.

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In celebration of Music Director Donald Runnicles’ Ten Years in the Tetons, GTMF presents an unprecedented summer line-up that delights at each and every opportunity.

Here are the some of the seasons best must-see moments:

Beethoven’s Symphony No. 9

Friday, July 8th | 8PM
Saturday, July 9th | 6PM

Pianist Jonathan Biss & Beethoven

Wednesday, August 10th | 7PM
Friday, August 12th | 8PM
Saturday, August 13th | 6PM

Gala Concert with Violin

Superstar Joshua Bell
Wednesday, July 13th | 7PM

Classical Crossover Trio

Time for Three
Wednesday, July 20th | 8PM

Masterful Violinist Nicola Benedetti

Thursday, July 21st | 8PM
Friday, July 22nd | 8PM
Saturday, July 23rd | 6PM

Tickets and information are available at GTMF.ORG

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Understanding construction costs in Jackson Hole is important when designing your home.

Construction of a home is a series of significant decisions, beginning with the selection of a location and property, and progressing to the home’s design and the development of a construction budget. Though home construction can be viewed as as a daunting process, for most homeowners it is an exciting opportunity to personally define their ideal living environment. That said, one meeting that is best to avoid is what some builders and architects commonly refer to as the “cost crisis” meeting. Such a meeting typically involves the architect, contractor and subcontractors feverishly working to balance the client’s vision of their home with the reality of construction costs and building in the intermountain west. This article is intended to provide those considering land acquisition and home construction with a cost overview that will assist in fulfilling construction of your dream home in the mountains, and doing so without unwanted surprises. Before examining the specific components of construction costs in Jackson Hole, it is important to first gain an understanding of the general market dynamics at work in the Teton County home construction market.

Market Dynamics Contributing to Cost in Jackson Hole

Balancing Quality with Underlying Land Values – In 2015, the average price of single-family homesites of one acre or less in the town of Jackson (See p.24)and South of Jackson (See p.25), where some of the community’s more affordable real estate is located, was approximately $437,000. Common sense dictates that new home builders will need to balance their land investment with quality construction that will be attractive to a future buyer of the property. As such, higher-end home finishes often are used in Jackson’s most price-conscious neighborhoods. In the high-end market, the costs added by high-quality finishes are compounded by the increased price of large-span windows and open areas that are necessary to take advantage of a site’s potentially multi-million dollar price tag.

Environmental Requirements in Home Building– The town of Jackson has an average snowfall of over 70 inches annually and is adjacent to the Teton Range, which is a young mountain range in geologic terms. Homes must be built to withstand snow loads from 120 – 175 pounds, and must meet the requirements of Seismic zone D-1. Such requirements may include engineered foundations, extra attention to the connection points of horizontal and vertical members, and the use of structural steel. Higher insulation ratings also are considered standard construction practices in an alpine climate.

Design – As architectural fees frequently are based on the hard costs of construction, the above-referenced contributors to cost have an additional impact on the design fee, with the design of a high-end home in Teton County being a professional expertise and skillset that is deserved of appropriate compensation.

Labor and Material Costs – As compared to major metropolitan areas, in Jackson Hole there is a 10% to 15% premium in cost of materials due to the areas remote location. Additionally, the cost of living and shortage of workforce housing in Teton County contributes to a similar 10% – 15% premium in wages for construction workers as compared to areas with a more fluid and available labor force. An additional problem simply is a lack of subcontractors, where employees of key trades were lost during the construction recession of 2008-2012. At times, a job can be delayed simply because a subcontractor is not available.

Where Fundamentals Meet the Cost Estimate…

Cost Tier 3 Homes

The culmination of this article is an accounting of the cost per square foot (of enclosed area inclusive of garage) to build a Jackson Hole home. Below is an accounting of the costs associated with a home that is located in what we are referring to Cost Tier 3. This tier is the central classification of cost in a five-tier ranking that was created for this article, with the tiers on either side of this cost level being then discussed separately. A home of Cost Tier 3 quality is most likely to be built on a site with a value between $1,000,000 and $2,000,000 and likely is located in any of several Jackson Hole submarkets in the West Bank (See page 22-23) , North of Town (See page 23), and the South of Town (See page 25) market areas. A typical size of this type of home is between 3,000 and 5,000 square feet of enclosed area, with around 20% of this area being non-habitable space, such as garage or storage. For example, a home with an enclosed area of 4,390 square feet may have approximately 890 square feet of this area being non-habitable space. The cost of the home has been allocated into nine groupings or “cost divisions” that we believe are intuitive. However, for a more detailed explanation of these cost divisions visit the resjh.com/016.

Soft Costs – Use of a supervisory architect from start to finish is assumed, with such costs often equating to 10%-15% of the construction budget. Engineering costs are often handled or directly supervised by the architecture firm. The mechanical systems of a home of this size will likely require engineering for property integration in the design process. A home in Teton County of this size will have to pay permitting fees for grading/erosion control, planning and building review, energy mitigation and affordable housing.

General Structure – Poured concrete foundations are typical with framing having to be designed to snow load and seismic zone specs. Increased size of open space spans and open-to-below areas may require the use of steel reinforcement. The anticipated size and complexity of a project of this quality require building through a winter construction season, which adds to cost. Additional contributors to cost include exposed structural systems for visual interest, larger spans for bigger windows, overhangs and multiple covered porches. For a home of this quality approximately 40% to 50% of the construction budget can be attributable to the general structure of the home.

Systems – In a Tier 3 home, HVAC systems can be forced air with multiple zone controls, and some ancillary hydronic in main spaces with hard/tiled surfaces. Possibly some humidification, air conditioning air filtering will exist. Basic control system for lighting and some basic built-in audio visual is typical. Expenditures for systems can be targeted for up to 5% of the overall budget, with this equating to a cost per square foot of enclosed area in the low-to-mid-twenties for our hypothesized Tier 3 home.

Cladding and Exterior Finishes – Lapped siding is a mainstay of this quality home. However the use of some rock façade extending above snowline becomes more prevalent, as do the incorporation of other material such as oxidized metals and timber accents. Architectural accents such as multi-tiered fascia details can be one of the amenities of homes in this tier. Custom metal siding/roofing are likely to be upgrades that are indicative of cost migrating toward a higher cost tier. An approximation of $125,000 for our hypothesized Tier 3 home calculates to a cost of just under $30 per square foot of enclosed area.

Fenestration – Windows at this leve of home will be of very good quality including aluminum clad wood. Such windows will have multi-point hardware and very good insulation qualities. Brands that have lines covering this range in quality include JELD-WEN, Marvin, Loewen in both stock and custom sizes.

Interior Finishes – In a Tier 3 home, interior walls are of drywall, with the budget often allowing for some accents such as wainscoting or skip troweling for a plaster appearance. Counters are typically of solid stone with metal surfaces being a popular accent. Hardwood floors are a standard for most living areas, with the exception of baths which often employ stone or other natural material tiles. Custom cabinetry and trim of matching or complimentary hardwood is expected. Door hardware from such providers as Emtek, Schlage are noted with fixtures from Kohler, and Moen being frequent choices. As would be expected, interior finish is the second largest contributor to cost after the basic structure of the property.

Appliances – Appliances at this price point combine form and function, with selection of kitchen appliances including Thermador, Viking and Wolf, Bosch and Asko. Notably, selections at the higher-end of the cost range are similar to that of many of the finest homes in the value and can be considered an upgrade for this tier of home. As an example, a kitchen appliance package from Subzero/Wolf can be as much as $35,000 more than a package from Kenmore/Whirlpool, which translates to a difference of nearly $8.00 per square foot of enclosed are at this hypothesized home size.

Amenities – Amenities such as gas fireplaces or wood stoves, more extensive decking and additional fixtures in baths are anticipated in a home of this quality. As such features are more a function of owner preference than a recipe for what is expected in a higher-end home, a definitive list is difficult to produce. However, as examples, an “off of the shelf Spa/Hot Tub, a few motorized shades and a simple A/V system can add $50,000 to the cost of a home.

Landscaping Access – The larger size lots associated with this type of home likely necessitate a longer driveway, which adds to cost. Landscaping not only speaks to aesthetics, but also the provision of privacy. Decorative plantings are expected, and a water feature is a possibility that would be more common in a higher cost tier, but not out of the question in Tier 3. Outdoor spaces such as terraces are considered as well.

Mathematically, the above-discussed Cost Tier 3 home equates to a cost of approximately $517 per square foot of enclosed area (see table). However, this is not an absolute; a majority of homes in any particular value tier have several components that would be thought to be more prevalent in other value tiers. In consideration of this, it is realistic to provide a cost range of a Tier 3 home that is between $400 and $550 per square foot of habitable space.

Comparison of Cost Tiers

The following pages address the migration of cost and quality through the categorization of two cost categories of lesser cost (Cost Tiers 1 and 2) and two categories of greater cost (Cost Tiers 4 and 5). As with the detailed analysis of Cost Tier 3, the cost per square foot returned by these compilations are not intended to be absolutes, but rather cost data points within the range of the particular cost tier.

Cost Tier 1

Cost Tier 1 is the most cost-conscious categorization. While “do-it-yourselfers” may be able to edge this cost, it is a pretty lean costing for those who don’t intend to pick up the hammer or supervise subcontractors themselves. Construction costs and finishes in this category are found on Teton County’s least expensive homes. Oftentimes, a homeowner will consider certain features or finishes as “placeholders” to be upgraded in the future. The costing provided by this example illustrates a cost per square foot of $237.93 for Cost Tier 1 homes (see below table). A range of $200 – $250 can reasonably expected for this cost tier.

Soft Costs – • Prospective home builders may shop for generic plans to either use directly or modify. • Self-design of a home is possible for more simple layouts. • Smaller homes will typically have less liability for government exactions.

General Structure – • Engeneering is needed to meet snow loads and seismic zoning. • Simpler architectural lines lend themselves to less expensive layout for concrete and framing. • Use of premanufactured trusses. • Conventional framing and window sizes.

Systems – • Electric baseboard or wall-mounted forced air units. • Light systems for function with some reliance on plug in lighting.

Cladding and Exterior Finishes – • Basic function and affordability are the driving factors for selection. • Wood or fiberboard siding is most typical. • Asphalt shingles are the primary roofing material.

Fenestration – • Vinyl clad window with sliding operation are the best cost option. • Windows in this category are offered by companies such as JELD-WEN and Pella.

Interior Finishes – • Cost efficiency for Tier 1 homes dictates that basic drywall, carpet and vinyl flooring are  expected. • Cabinetry and hardware can be purchased effectively from big box home stores.
Appliances – • Entry level appliances from companies such as Roper and Frigidaire lines provide the basic function needed for an entry level house.

Amenities – • By definition, amenities are not the focus of entry level housing. However, frugality in other areas of construction may lead to the ability to have such things as a less expensive gas fireplace as an additional heat source.

Landscaping Access – • Smaller lots may allow for savings on driveway construction. • Gravel drives may be an option in more rural locations. • Landscaping limited to satisfying Town or CCR-based requirements and providing a mud-free access to the front door.

Cost Tier 2

Cost Tier 2 is considered to be a good or very good quality home by many national costing services. Homes of this quality often will be built on site having a value between $350,000 – $750,000. A detailed description of this type of home can be found on the Cornish | Lamppa websites at resjh.com/016. However, in general, a Cost Tier 2 home will employ an architect for core/shell level of plans and smaller spans supported by beams or columns. The home will have a central heat system and appliances by brands such as Kenmore and Whirlpool. Countertops may be tiled, and some pre-finished wood flooring is installed. A Cost Tier 2 home shows a cost per square foot of $361.73 in our example. A range of $250-$375 can reasonably expected for this cost tier.

Cost Tier 4

Cost Tier 4 is what most people familiar with high-end resort real estate consider an excellent or luxury quality home. In general, homes of this nature are built on sites with values greater than $2,000,000, and quite frequently greater than $4,000,000. Homes in this price category arguably are some of the finest in the valley, with cost increases for Cost Tier 5 often only being a function of owner preference. (Arguably, some of the expenditures in Cost Tier 4 may be similarly motivated.) The costing provided by this example shows a cost per square foot of $668.56 for a Cost Tier 4 home. A range of $550 – $750 can reasonably expected for this cost tier.

Soft Costs – • Full architectural services from design oriented firm, fully custom design • All engineering, civil, structural, mechanical, plumbing, electrical, lighting design, A/V design • Teton County – affordable housing fees can become significant depending on size of house.

General Structure – • Larger spans to accommodate views and cantilevered spaces – often necessitating the use of red steel. • A project of this size will run through one winter building season.• Architectural designed and engineered trusses/exposed structural systems • Larger roof overhangs • Decks over heated spaces below or upper level waterproof decks.

Systems – • Top-of-the-line HVAC system and hydronic heat – humidification and air conditioning • All systems inclusive of A/V and lighting are integrated into advanced control system • Visually hidden systems such as air purification using discrete linear diffusers or hidden altogether • Geothermal heat pumps, photovoltaic panels • Back-up generators.

Cladding and Exterior Finishes – • Custom wood and metal siding • Stone Veneer – unique, but less complex in application • Installation of stone from a quarry supply • Heavy, hand-split cedar shakes.

Fenestration – • Custom designed aluminum clad wood windows with custom colors and finishes • Packages may include large lift/slide doors • Brands may include Albertini, Unilux, Dynamic, Grabill • It is not out of the question for a Tier 4 window package to be nearly four times of that of a standard window package.

Interior Finishes – • Drywall – Level 5 finish or Plaster • High end tile/countertops from Ann Sacks, Waterworks, Interior Stone veneer or custom wood veneers. • Custom Cabinetry throughout • Hardware from Sun Valley Bronze, Rocky Mountain, FSB • Fixtures – Waterworks, Kalista. Multiple bathrooms with 4 or more fixtures (two sinks or tub and shower).

Appliances – • Top-of-the-line Sub-Zero and Wolf throughout • Appliances may have unique features such as dishwasher drawers, under cabinet refrigerators outside of kitchen area • Multiple washers/dryers wine refrigerators.

Amenities – • Custom gas fireplaces, double-sided wood fireplaces • Custom spas • Steam showers • Extensive A/V system, security system.

Landscaping Access – • Longer driveways • Water features, radiant stone terraces • Exterior A/V system • Exterior lighting, some being decorative • Enclosed porches.

Cost Tier 5

Cost Tier 5 is similar to the finish and form of a Cost Tier 4 home in many ways, but it is an end product that speaks to a collaborative effort between a property owner and a design team to place the distinct stamp of the owner on a property. This cost tier not only represents complexity of design and execution of construction taken to its highest level, but also includes undertakings such as the purchase and integration of antique structures into a home or the milling of structural timbers on site. The cost of a Cost Tier 5 home is approximately $815 per square foot in our example. However, the cost of this type a home is only limited by the imagination of the owner, and cost calculations from $750 to over $1,500 per square have been noted in Teton County. A detailed description of this type of home can be found on the Cornish | Lamppa website at resjh.com/016.