Late last week I had a chance to take a guided tour of the brand-new Pearl at Jackson building in downtown Jackson, as well as another good look at the White Buffalo Club, a year-old project also just a few blocks from Jackson Town Square.
While both developers are trying to find just the right buyers for what they consider unique products in a challenging real estate environment, each is taking a different, somewhat nontraditional approach to marketing.
Located across from the Jackson Hole Twin Cinema on the corner of Pearl Avenue and Jackson Street, the properties in this mixed-use development will not be listed in Teton County Multiple Listing Service. This may seem counter-intuitive, especially considering the current abundance of available commercial space and the hyper-competitiveness of the high-end condo market. Why not broadcast the availability of your product to the widest audience possible?
But developer and real estate broker David Neville believes the level of quality and desirability of the location of his Pearl at Jackson project will best be spread by word of mouth. And so far, so good, says Neville, with several of the five commercial spaces and 10 residential units already sold or under contract.
Contact me for a private tour of this building or for more info on the available spaces, but a few random highlights from last week’s tour include:
- Starting below grade, the heated parking garage is larger and easier to access than most similar projects in town, like 30 King, for example. Specifically, the access ramp is more than wide enough for two large vehicles, allowing simultaneous up and down traffic. And the remote storage areas for the 10 residential units, located here, also offer more space and ease of access than similar units such as Love Ridge.
- Residents may use the lobby area for the ground floor commercial units after business hours for social gatherings.
- No two spaces are the same with unique floor plans for all residential and commercial spaces.
- To be fully appreciated, the premier residential unit on the third floor, listed just north of $2 million, must be seen. The space has 3 beds, approximately 1,700 square feet of indoor living space and almost as much square footage in a massive wrap-around deck that provides a panorama of both mountain and urban views.
- Designed by Plan One Architects of Driggs, Idaho, the building will apply to become the first LEED (Leadership in Energy and Environmental Design) certified mixed-use building in the Town of Jackson.
Sotheby’s is the listing brokerage so I have been well informed as to the details of these properties and the amenities via intra-office communications and multiple private showings. Contact me if you have any interest in participating in this weekend’s auction either in person or online and I’ll provide all pertinent information, including short-term rental income performance as well as a comparable market analysis of similar properties.