JACKSON, Wyo. — The Jackson Town Council unanimously approved the development plan for the Cache + Pearl Condos located at 50 S. Cache St. and 45 and 75 E. Pearl Ave.
Councilmember Jessica Sell Chambers was absent from the meeting and therefore did not vote on the item.
The development plan is the final step before the developer, Crystal Creek Capital, can submit a building permit. Construction is expected to begin in spring 2023.
A number of design changes were made by the developer between the sketch plan and the development plan to make the building better fit the “western character” as defined by the town’s design guidelines. Upon reviewing the changes the Planning Commission recommended the approval of the development plan on June 15.
The three-story, 68,0000 square foot building will house 18 short-term two, three and four-bedroom rental units. The first floor will be commercial spaces.
The property is located within the lodging overlay, which is zoned for short-term rentals and is not included in the ongoing discussion about amending land development regulations for short-term rentals from 31 days to 90 days. The council continued the item during a June 21 workshop.
At a June 1 Town of Jackson Planning Commission meeting, Jim Walter, president of Crystal Creek Capital said, “Our design intent is for someone to live here long-term. If they would choose to rent them on the short term they may. The way in which we created these units is consistent with long-term living.”
“From staff’s perspective it [the development plan] checks all the boxes,” Senior Planner Tyler Valentine said during the meeting.
One catch to the approval is that “prior to the submittal of a building permit, the applicant shall revise the Cache Street canopies to ensure they provide continuous coverage over the boardwalk.”
“I think it’s cause for celebration,” Councilmember Jim Rooks said. “This plan in front of us shows incredible listening on behalf of the applicant and it proves that this process works.”
The developer is not required to create employee housing, due to housing credits previously placed on the properties. The land development regulation, created in 1994 created a system to calculate the required number of employee housing units developers were required to create when building, or pay a fee-in-lieu. The property at Cache and Pearl already carried 10.43 housing credits from previous development.
The condo re-development requires 6.57 deed-restricted units, but applying the previous credits attached to the property, a housing credit of 3.86 units will remain on the site even after the project is complete.
Councilmember Jonathan Schechter and Vice Mayor Arne Jorgensen applauded the development and the developer for “following the rules” and posed rhetorical questions about how the housing credit regulations are structured and if changes need to be made.
Editor’s Note July 7: The article has been updated to reflect the fact that Councilmember Jessica Sell Chambers did not vote on the development plan.
