February 21, 2024 Real Estate News

Accessory residential units enhance housing stock and property values.

by Staff Writers

As property values continue to rise across the Mountain West and available housing inventory declines, homeowners are exploring additional ways to maximize the potential of their real estate investments for personal—and community— benefit alike. One increasingly popular option among communities in the Jackson Hole region is the incorporation of accessory residential units (ARUs) within a property.

Property owners have the option to re-imagine the traditional guest home paradigm towards uses that favor housing diversity, sustainable community development, and additional income potential.

While ARUs undeniably enhance property values, their secondary impact lies in their ability to enrich the broader community by helping to augment housing opportunities throughout region. By providing unique housing inventory, ARUs are able to accommodate diverse living arrangements, and are ideally suited to multigenerational families, young professionals, retirees, and others.

“In-law suites” are among the more commonly accepted uses of ARUs within Teton County, Wyoming. Multi-generational housing is often permitted in areas of the county that would otherwise prohibit multi-family use—as in the leasing of a guest home. These apartmentstyle suites are typically attached to a primary residence and often provide a separate entrance. In-law suites offer opportunities for expanded living arrangements, allowing families to stay

connected while maintaining independence—a benefit that can be especially valuable in elder care situations.

In a region where conservation is a community priority and additional development opportunities are limited, ARUs can promote limited and sustainable community development by utilizing existing infrastructure and aiding in the minimization of overall environmental impact. By repurposing underutilized spaces within residential properties —especially in the town of Jackson—thoughtful ARU implementation can contribute to smart density, with the added benefits of walkable neighborhoods and reduced developmental sprawl.

In addition to their cultural and environmental benefits, ARUs play a vital role in addressing housing affordability challenges in Jackson Hole. The scarcity of available housing options has been a prominent theme in the area for decades. In areas of the county that allow long-term rentals,

ARUs provide a practical solution by offering alternative housing options that are accessible to a broader range of income levels and individual needs. This opportunity for affordable and varied housing stock not only benefits owners and residents, but also contributes to the economic diversity and vitality of Jackson Hole’s broader community. The “caretaker’s home” concept that has long been established on larger properties now has more scalable opportunities for yearround housing that can be implemented more broadly within the region.

The economic value provided by incorporating ARUs is obviously not limited to the community impact alone. Homeowners often enhance their property values and generate additional income through implementation of these less-traditional rental opportunities, which can help to offset mortgage expenses and property taxes.

Despite these benefits, owners must navigate regulatory requirements and zoning ordinances that govern ARU construction and operation. Size, design, and occupancy are subject to varying degrees of regulation depending on the property’s location, specific land use regulations, and any additional neighborhood restrictions. Homeowners should consult with a real estate professional, planner, architect, and real estate attorney to successfully navigate the nuances of any particular property’s ability to utilize an ARU.

These varied and unique residential units play an increased role in enhancing a property’s versatility and value, promoting sustainable development, and helping to address community housing challenges on a micro scale. Through thoughtful planning and implementation, ARUs can contribute a pathway to a more vibrant and sustainable future for residents of Jackson Hole.

Pictured Above: A two-bedroom, 1,391-square foot guest home on Big Boulder includes a two-car garage and provides versatility for traditional guest usage or as a caretaker’s home on the property’s 23 acres.

Pictured Above: An East Jackson property near May Park comprises three distinct housing units, a rarity among offerings in town—a 3-bedroom main home on a quiet street front, a separate 2-bedroom home accessed via the alley, and a studio apartment.

#1 Top producing team for

NEW CONSTRUCTION IN EAST JACKSON

6 BEDROOMS •

4 FULL, 1 HALF BATHS

4,205 SQ. FT. • .17 ACRE

MULTIPLE LIVING SPACES

TWO CAR GARAGE

$7,500,000

MLS# 22-1798

NEW LUXURY HOME IN THE TOWN OF JACKSON

• 5 BEDROOMS

• 5 FULL, 1 HALF BATHS

• OFFICE

• 3-CAR HEATED GARAGE

• MULTIPLE LIVING SPACES

• ADJACENT TO NATIONAL FOREST

• ELEVATED MOUNTAIN VIEWS

• 4,484 SQ. FT.

• .47 ACRE

• $10,500,000

• MLS# 24-62

SUBLETTE RIDGE

SKI LODGE

TETON VILLAGE

6 BEDROOMS •

6 FULL, 2 HALF BATHS

ACRES • COMPLETELY RENOVATED • RESORT ZONED FOR • SHORT TERM RENTALS

$13,950,000

MLS# 21-3721

NEW WORKFORCE HOUSING ON W. KELLY AVENUE

• EMPLOYERS ARE NOW ELIGIBLE TO PURCHASE RESIDENCES FOR WORKFORCE HOUSING

• 2 BEDROOMS

• 2 FULL BATHS

• 984 SQ. FT.

• $850,000

• MLS# 23-767

Des Jennings

ASSOCIATE BROKER

DES.JENNINGS@JHSIR.COM

307.413.4945

Historic Mead Ranch

The Mead Ranch in Spring Gulch is one of the most iconic properties in all of Jackson Hole. This legacy ranch land has it all: Teton views; over a mile of private Spring Creek fishing; and a range of homesites with unbeatable ease of access to the Town of Jackson. Steeped in history with 1898 priority water rights, this was one of the first areas homesteaded in Jackson Hole. With extraordinary habitat for elk, mule deer, moose, sandhill cranes, and large raptors, among others, the South end of the property is protected under a perpetual conservation easement. The remaining land gives a buyer a great deal of flexibility with several distinct areas for development along Spring Creek and potential for habitat enhancement.

$40,000,000 | 22-2097

Newly Completed Construction in Skyline Ranch

Nestled in Skyline Ranch, this new mountain-modern home offers striking design. Floor-to-ceiling windows frame the scenery, while the great room features a limestone fireplace, heated oak floors, and high hemlock ceilings. The kitchen boasts Axor faucets, Wolf/Sub-Zero appliances, and a butler’s pantry. Outdoors, a private patio with a hot tub, fire pit, and kitchen expands living space. Dual primary suites impress with steam showers and Claybrook bathtubs. A detached guest house adds privacy, while storage, a mudroom, and three-car garage enhance practicality. Lutron lighting, Sonos sound, and AC in both houses. Douglas fir siding, limestone accents, Ipe wood decks, and standing seam metal roof ensure enduring style. Every detail has been meticulously considered $13,500,000 | 23-1931

Betsy Campbell

ASSOCIATE BROKER

BETSY.CAMPBELL@JHSIR.COM 307.690.5684

The

McPeak Group

Fully Remodeled Unit in the Aspens

One of the newer Aspens buildings, this fully remodeled, immaculate, Aspens condo has clean lines, a modern vibe and excellent design elements. The large great room has plenty of room for a variety of furniture and opens to a covered balcony. In-floor heat! Generous primary suite with hardwood flooring and plenty of closet space. Upgraded finishes and features include a sleek modern fireplace, bright bathrooms with quality barn doors, and a lockable owner’s closet, an upstairs end unit, large windows bring in lots of natural light. This condo immediately brings in rental income or becomes a stunning year-round home. The convenient location offers easy walking distance to all of the Aspens shops and restaurants.

$1,850,000 | 24-91

Wilson, Wyoming

Sublette Woods Lot #2

#2

#2

Peaceful and private at the base of the Hobacks! Enjoy recorded SKI-IN/SKI-OUT ACCESS from this 3.76 acre site in the new Sublette Woods subdivision at the SW end of the JH Mountain Resort. Overlooking Open Space to the north, one of only four large building sites located within a forest of 300-year old Douglas firs. Recorded easement also allows for hiking and biking access into Bridger-Teton National Forest. CC&Rs allow a house, guest house, garage facility and associated outbuildings not to exceed four buildings. This is your blank canvas to create the ultimate Jackson Hole basecamp.

$8,250,000 | MLS #23-969

Fred Harness

307.690.0417

Fred.Harness@JHSIR.com

Jackson Hole Sotheby’s International Realty #1 Selling Individual Agent in 2022 and # 3 in 2023.

1 Bedroom | 1 Full Bath | 752 Sq. Ft. $875,000 | Property ID: 7VX272

Fully Renovated Condo in the Aspens

Fully renovated condo that is located in the desirable Berry Patch section of the Aspens. This one-bedroom, one-bath ground-floor unit offers a private setting adjacent to ranch land. Excellent proximity to the Jackson Hole Mountain Resort, Teton Pines Resort, and the Aspens Market, this condo would make a great home base for your Rocky Mountain lifestyle. Resort zoning allows for short-term rentals, making this a great vacation property.

4.13 Acres $5,800,000 | Property ID: E3NNQQ

Building Lot with Fish Creek Frontage

Just one and one-half miles north of Wilson up Fish Creek Road sits a four-plus acre building site along Fish Creek. Located at the base of the Tetons with views of the Wilson faces, Fighting Bear Creek Ranch is a quiet community with just five homes on a private country lane. This unique building site is graced with 560 feet of pristine waterfront along its western boundary. The property has a gentle side channel with a peninsula and island. Mature trees offer shade and privacy and provide a rich habitat for both wildlife and aquatic life. A great property for people who like the feeling of nature and the outdoors.

5

Contemporary Living Overlooking Fish Creek

Chris.Grant@jhsir.com

commercial

This residence, designed by the renowned Stephen Dynia, captures the essence of contemporary living overlooking Fish Creek with majestic views of the Tetons.

3.53

This

development opportunity with views of Munger Mountain, Teton Pass, and The Grand Teton is perfectly situated at the southern entrance to Jackson.

WEST SPRING VIOLET COURT

5 Bedrooms | 5 Full Baths, 1 Half Bath | 4,254 Sq. Ft. | .15 Acre | $6,750,000 | MLS#: 23-523

This property is a hidden gem within Teton Pines with mountain views across two permanently protected lots and unparalleled privacy for a Cluster Home. The home has water on two sides which welcomes abundant wildlife throughout the year. There are 5 en-suite bedrooms as well as a spacious living room with an open floor plan and an adjacent powder room. The Great Room features a river rock fireplace and a well-appointed wet bar while enjoying fantastic mountain and water views. Additionally, there is a beautiful 800-square-foot deck accessed from the great room as well as from the primary bedroom. The kitchen is well-appointed with granite countertops and high-level appliances. Enjoy the central location of Teton Pines, just minutes from the Jackson Hole Mountain Resort in Teton Village.

35.01 Acres | $5,500,000

MLS#: 23-2267

Rare opportunity to own 35 acres at Snake River Sporting Club. Build your dream home and enjoy the world class amenities offered to club members. Amenities include the Championship Tom Weiskopf designed golf course, an equestrian center, swimming pool, paddle tennis and a wealth of outdoor activities.

307.690.6286 | nathan.emerson@jhsir.com

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