Commissioners set to ratify ending talks with Pennrose on 90 Virginian Lane

Teton County commissioners are set to approve meeting minutes that record a 3-2 vote to terminate negotiations with Pennrose LLC on the 90 Virginian Lane affordable workforce housing development, the 221-home, deed-restricted project long pitched as a public-private partnership. If the minutes stand, the board will have formally walked away from a deal staff previously framed as $45 million in public investment to access more than $100 million in private financing for construction. Details appear in the Regular Joint Meeting Agenda Packet.

The underlying project has been years in the making, including a Housing Authority purchase of the 5.15-acre site in August 2023 for $28 million, followed by Pennrose’s selection as development partner in 2024. A July 2026 staff report laid out two paths, move forward with Pennrose or “terminate negotiations with Pennrose and wait to determine a path forward until 2027,” noting the site has also been leased seasonally as an RV park to generate revenue while plans were developed. Watch for whether commissioners pair the minute approval with any clear direction on next steps, including whether to re-bid the project, pursue a lighter-touch housing concept, or keep using the land for interim RV operations. Background is summarized in the 90 Virginian Lane Affordable Workforce Housing Development Agenda Packet.