A very HAPI ending for Teton Saddleback Vistas!
Teton Saddleback Vistas was originally built as an 1,100 acre luxury equestrian development in Teton Valley, located at 3500S and HW 33. It was an ambitious project that included a large indoor private horse arena, a spa, and clubhouse.
When the local real estate market tanked in 2009, many of the luxury homes in Saddleback Vistas stood empty and unfinished.
However, by 2014, most of these abandoned or foreclosed homes had been resold to people who completed the improvements and took up residency in them. Suddenly, what had been a ghost town began to look and feel like a real neighborhood! There were several horses boarding at the indoor arena and a full calendar of arena events.
Then the bottom fell out on the neighborhood again when the original developer who still owned the arena decided to put it up to auction. In 2014, the horse arena was auctioned off for $650,000 to billionaire Aussie mining mogul, Clive Palmer, and relocated to his ranch in Pinedale WY.
The neighbors were devastated. They hired lawyers to help stop this from happening, but did not prevail and were left with a large foundation in the ground upon which the arena once stood.
This fall, the neighborhood Homeowners Association (HOA) approached our organization about breathing new life into the arena site. We paired the Teton Saddleback Vistas HOA with HAPI Trails, a local nonprofit horse rescue organization. Our staff directly facilitated the negotiations and drafted the custom contracts for HAPI Trails to take over these languishing equestrian facilities.
We are very proud to announce that HAPI trails and the Teton Saddleback Vistas HOA signed their final lease at our office this winter!
This 10-year contract includes almost 17 acres with 6 large pastures, 7 smaller corrals, 2 outdoor arenas, a round pen and access to 140 acres of open space with 3 miles of trails.
It’s a win-win for everyone. The HOA which will see a huge reduction in their property taxes from the re-use of the site, and HAPI Trails will gain the high quality facilities they desperately need for their horse rescue and rehabilitation programs. HAPI Trails is currently working to mend the corrals and finish the clean-up so they can relocate their horses to the arena property this spring.
Saddleback Vistas is the EIGHTH Homeowners Association to take advantage of our free legal and planning advisory service.
Does your HOA have questions about managing:
- Open Space?
- Community Amenities?
- Water or Sewer Systems?
We can help! Contact our office at (208)354-1707 to speak to our planners and attorney on staff.