Redesign of Targhee Hill Estates
Reshaping Targhee Hill Estates
A Reshaping Development Patterns pilot project
We have now begun our first Reshaping Development Patterns pilot project, the redesign of Targhee Hill Estates. This resort planned unit development (PUD) was the vision of Land Equity Partners (LEP) out of Park City, UT. Now stalled out and only partially built, VARD is working with LEP to redesign this project to:
- benefit the developer's pocket book by lowering infrastructure and carrying costs,
- benefit the city and county by lowering the cost of providing municipal services,
- and benefit the community with the conservation of our natural resources and rural character.
Click here to visit LEP's website highlighting the original 2007 concept for Targhee Hill Estates as a mid-luxury, gated community with extensive water features. The original plat is shown below.
A general timeline of events thus far…….
- April 2010: LEP presents on the challenges of financing and completing Targhee Hill Estates at our Teton Springs workshop on Reshaping Development Patterns. LEP's intriguing presentation was the most discussed and praised by workshop attendees. This began discussions by VARD, LEP, the Sonoran Institue, and the Lincoln Institute to have Targhee Hill Estates be the first pilot project.
- August 12, 2010: Work session with the Board of County Commissioners to discuss how to proceed with distressed subdivisions. LEP was in attendance and also participated in this meeting. Click here to read our report. Click here and here to read news stories covering this work meeting.
- September 16, 2010: Replatting work session with LEP and the Board of County Commissioners, and VARD. This was the first nuts and bolts work session to discuss the details of how a project like Targhee Hill Estates can be reconfigured. Click here to read our report.
- October 13, 2010: the Teton County Planning & Zoning Commission unanimously recommended approval of a replatting ordinance to provide processes and incentives which would facilitate the redesign of projects like Targhee Hill Estates. Click here to read the meeting report.
- November 22, 2010: The replatting ordinance was unanimoulsy approved by the Teton County Board of County Commissioners.
What's happening now?
- Now that there is an ordinance on the books that provides a process and incentives for replatting, Land Equity Partners is busy planning the nuts and bolts details of how their resort PUD will be replatted. Part of this involves discussing different scenarios with the banks who own debt on this project as well as the 6 individuals who own a total of 18 lots in this development.
- VARD is busy researching options for long-term water rights and open space management plans that will preserve the Teton Creek area, provide financial benefits to the developer, while also benefitting the community at large.