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Downtown Jackson's Biggest Undeveloped Lot Goes To Market

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The Jackson Hole Property Guide is reporting that the Forest Service is listing 10 acres of its North Cache Street property in downtown Jackson through Sotheby's, which will be the biggest piece of undeveloped land in town to make it to market in recent years. The sale, similar to one Curbed covered earlier in Aspen's West End and talk of which began in 2008, is intended to raise money for other Forest Service projects. The Forest Service will hold onto a little more than 5 acres along North Cache Street for the headquarters of Bridger-Teton National Forest, with the remaining 10 acres having been previously appraised at around $10-11 million. It will be the first time a local private broker will represent a Forest Service land deal like this.

While the land is no doubt enticing to a wide range of development prospects, there is one significant roadblock: when the land gets sold, it will automatically be zoned as rural land, and any commercial development would need to get the land re-zoned.

· Bridger-Teton parcel hits market [Jackson Hole Property Guide]