Town and county set to vote on Pennrose deal for 221 deed-restricted homes

Jackson Town Council and the Teton County Board of Commissioners are set to vote July 14 on whether to proceed with Pennrose as developer for 90 Virginian Lane, a plan staff describe as 221 permanently deed-restricted homes with a 70% rental and 30% ownership mix. Staff will present two headline paths, moving forward with Pennrose now (with variations including Options 1B and 1C) or terminating negotiations and deferring a new direction until 2027. Special Joint Meeting Agenda Packet

If the boards say yes, the packet frames the decision as a $45 million public investment to support the buildout, and says that partnership would “access over $100 million in private funding” for construction. If they say no, staff warn the likely outcome is delay in delivering deed-restricted homes for local workers and families, plus a harder reset for any future request for proposals. Special Joint Meeting Agenda Packet