90 Virginian Lane: staff pitch 221 deed-restricted homes for $45M public

221 permanently deed-restricted homes is the staff-recommended “path forward” for 90 Virginian Lane — and the real vote is whether Jackson and Teton County cap additional public cash at $5 million or stretch to $10 million. In a joint-meeting staff report, housing staff recommend Option 1B: 221 homes (161 rentals, 60 for-sale condos), 326 bedrooms, with $5 million additional public investment on top of the previously agreed land + $10 million package (total public investment framed as $45 million). See: Special Joint Meeting Staff Report.

Staff’s case is basically: stick to the RFP the governments wrote, keep real ownership in the mix, and don’t raid general funds to buy down condo prices. The competing unit-mix alternative (216 homes, 90% rental/10% ownership) would add more three-bedroom ownership units but fails the RFP and sharply reduces for-sale opportunities — including fewer units the town/county could potentially acquire for employee housing.

On money, the report lays out two “additional investment” choices: $10 million ($5M rental + $5M for-sale) versus $5 million ($5M rental + $0 for-sale). Staff recommend the lower number because the town manager and county administrator oppose putting general-fund dollars into the condo side, and because the deed-restricted condo program’s appreciation cap is expected to make those units “more affordable over time” even without a buy-down.

My takeaway: this is a big swing at keeping workers in town — but the affordability target is still middle-to-upper workforce (weighted affordability ranges roughly 128%–136% of MFI across the options). If electeds want this project to help the people who are actually being pushed out (service workers, childcare, entry-level public employees), the follow-up direction shouldn’t just be “which option,” but how many units are going to land at or below 80%–120% of MFI — and what dedicated dollars, beyond one-time land, are on the table to get there.