During its Regular Meeting Tuesday, the Teton County Commissioners unanimously approved a new housing partnership with the Cumming Foundation that will create 57 new permanently deed restricted apartments in downtown Jackson.
The project will be named Jackson Street Apartments, with the new rental community being built across 10 lots located south of Snake River Brewing. This project is the largest 100% permanently deed restricted development to be built in Teton County.
The Cumming Foundation will contribute six lots zoned Commercial Residential-2 that it currently owns in the lodging overlay, and $10,000,000 to the development. Teton County will contribute four adjacent lots to the south of the Foundation’s lots that are zoned Neighborhood High Density and in return for their land contribution, will receive 15 Employee Rights of First Rental.
Teton County will also contribute $5,000,000 of housing mitigation fees to the development.