Grand Targhee, Wyoming

Everett Potter

09/01/2005

For years, nature lovers have been describing Grand Targhee, Wyo., as a hidden gem. This low-key ski resort on the western flanks of the Teton mountain range lies due west of its more famous neighbor, Jackson Hole, which hugs the eastern side of the same mountains. And it was die-hard skiers who put Targhee, as it is called, on the map. The reason? Targhee averages 500 inches a year of the lightest powder snow found on the planet. And the resort, peopled with local families, day visitors from Jackson Hole and serious ski bums, is never, ever crowded. In a good year, about 150,000 skiers visit. Compare that to an industry behemoth like Vail, which hosts 1.5 million skiers annually, or even nearby Jackson, which welcomes close to 350,000 skiers per year. But while Targhee cannot compete with Vail’s size, it does have a very respectable 2,500 skiable acres, some challenging terrain served only by a snowcat and views that stretch more than 100 miles.

A three-bedroom douglas fir-and-stone residence, minutes from the Grand Targhee Resort, is on the market for $2.25 million (Sotheby’s International Realty).  (Click image to enlarge.)

For years, the biggest challenge has been simply getting to Targhee. From Jackson Hole, it takes at least an hour to drive the 42 miles, crossing the Tetons through the sometimes treacherous Teton Pass. The road descends into Idaho’s Teton Valley, passing through the farming towns of Victor and Driggs, and then crosses back into the mountains into Alta, Wyo., and the Targhee National Forest. Ski Hill Road, the final part of the drive, is often banked with walls of snow 8 to 10 feet high, making it look more like a bobsled track. No wonder local powder hounds, like Jackson resident Harrison Ford, have treasured the anonymity of the region for years. Besides, there is almost nowhere to stay. At present, there are just 96 rooms in the entire village. And nightlife is virtually nonexistent.

The pristine powder slopes of the Grand Targhee Resort. (Click image to enlarge.)

But change is afoot. After years of trying, the resort’s owner, George N. Gillett Jr. (who also owns the NHL’s Montreal Canadiens), successfully made a land swap with the U.S. Forest Service. This allowed Targhee (which is currently a large, nonresidential region) to submit its master plan for an expanded village for approval in December 2004, a process that will likely take close to two years. At full build-out, Targhee is now proposing 875 lodging and residential units—houses, condos and hotel suites—in a base village. And in typical Targhee fashion, that is 95 units shy of the 970 units approved in a U.S. Forest Service Final Environmental Impact Statement. In short, the town will change, but it will still remain small.   
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).

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.

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.” 

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