Grand Targhee, Wyoming
September 1, 2005
While none of those units are for sale yet, Targhee’s general manager, Larry
Williamson, says he has a list of more than 300 Targhee loyalists who are
interested in a piece of this Western paradise. But even before the village
plans came out, interest was growing in Teton Valley, spurred by neighboring
Jackson Hole’s rising prices and the fact that only 3 percent of Teton County,
where Jackson Hole lies, is buildable (the rest is owned by various arms of the
government).
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A 15-acre land parcel in Alta, Wyo., on the market for $1.6 million
(Sotheby’s International Realty). (Click image to enlarge.) Sleepy Idaho farming towns such as Driggs, Victor and Tetonia began to attract Jackson Hole commuters who traveled over the pass every day in exchange for affordable housing and wide-open spaces. These same towns have started to lure second-home buyers because of the area’s larger parcels of land. The grand prize on the west side of the Tetons is Alta. Not only is it the closest town to Grand Targhee, but it also is located in Wyoming, where there is no state tax. And that Wyoming tax break has already made Jackson Hole a haven for wealthy individuals seeking tax relief, such as members of the Walton family and Vice President Dick Cheney.
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The Grand Targhee Resort has long been
an underground favorite of
serious skiers who appreciate its unpopulated runs
and flawless snow. (Click image to enlarge.) Right now in Teton Valley, the hottest commodity is land. At the low end, $80,000 to $100,000 is the price of three- to five-acre parcels with a view in Idaho. In Alta, prices start at $100,000 and run up to $600,000 for comparable parcels. The most rare and coveted properties are adjacent to national forest land; they offer spectacular mountain views and cost between $1.5 million and $3 million. That may seem like peanuts compared to the price of land on the other side of the Tetons in Jackson Hole. But when the $2 million to $5 million homes start sprouting up on these parcels, the name Targhee is likely to become a byword for “boomtown” rather than “backwater.”
Facts & Stats
- Fly & Drive: The Jackson Hole Airport is a one-hour drive from Targhee. The Idaho Falls Airport is a 90-minute drive.
- Amenities & Recreation: The Grand Targhee region offers some of the best powder skiing in the world. In the summer, there is mountain biking, hiking and fly-fishing. And you are within 50 miles of Grand Teton National Park and Yellowstone National Park.
- Prime Properties: While Targhee’s first upscale residences have yet to go on the market, area real estate office American Realty West is offering a 10-acre parcel on Ski Hill Road in Alta, Wyo., for $395,000 and a 3,865-square-foot home on Ski Hill Road priced at $585,000. Sotheby’s International Realty is featuring a 40-acre parcel in Alta for $800,000; a four-bedroom home on 160 acres in Tetonia, Idaho, for $2.8 million; and a 1,365-acre parcel of rolling hills and canyons in Tetonia on the market for $5.4 million.
- Realtors: Dan Willert, Sotheby’s International Realty, 877.739.8108, www.jhsir.com; Brooke Saindon, American Realty West, 877.354.2348, www.arwest.com
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