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Building permits down, but values rocketing up

By Ben Graham, Jackson Hole Daily
July 05, 2013

Building activity in the town of Jackson continues to follow the trend of the year in which the number of construction projects around town is down compared with last year, but the value of those projects is up significantly.

The latest report from the town’s building department shows that just seven permits were issued in June, compared with 11 the same month last year.

But the value of the permits this year is nearly three times greater.

Last month’s permits represented $5.4 million worth of work. In June 2012, the value reached only $1.43 million.

Those figures continue a trend that can be attributed to a few large, expensive projects.

Halfway through 2013, 48 permits have been doled out worth a total of more than $22 million.

During the same time period in 2012, 59 permits had been doled out but the value was half as much: $11 million.

The difference is a handful of expensive projects being undertaken this year.

For example, one of the permits issued in June is attached to the address for the West Broadway property that will soon house a Walgreens. The permit is valued at $1.2 million. That project alone nearly matches the total value of the permits issued in June 2012.

Another $3.2 million permit was issued last month for more work on the new Jackson Whole Grocer, which is being built on the former site of the Sunrise True Value Home Center.

Other massive projects planned or completed this year include a $4 million remodel of Snow King Hotel and $1.2 million to be spent on the McCabe Corner property, also known as “Jackson’s hole.”

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