Community Housing Trust | Annual Report 2019

Jackson Hole Community Housing Trust ANNUAL REPORT 2019 Cultivating a Vibrant Community through Housing

The Jackson Hole Community Housing Trust has developed or acquired 146 homes that have served more than 433 adults and children in Teton County.

Collaboration The absence of affordable housing in Teton County affects every sector of our community. Since 1990, the Housing Trust has prioritized partnerships with several of our County’s largest employers to create stability for the people who care for our families and provide essential services. Working together, we can move the needle on this critical issue.

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Innovation In 2019, the imbalance between supply and demand for housing propelled the cost of real estate to an all-time high. As the housing issue in our community becomes more complicated and expensive to address, our resolve intensifies to investigate every possible opportunity to more effectively address this community-wide problem.

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Stewardship For nearly 30 years, the Housing Trust has been committed to strengthening our community through housing. We are proactive in our efforts, we are diligent about details and we are resolute in our commitment to the community-wide solution that will have a lasting impact in Teton County.

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H O US I N GTR USTJ H.O R G

a letter from

Our Executive Director

The life changing events of 2020 have given us all an opportunity to see the world through a different lens. For so many people, 2020 has been marked by uncertainty.

On our own search for answers, we were reminded that housing can be a source of stability during a time of so many unknowns. Not only does housing provide stability for people we rely on every day, housing is also a grounding force for our community. Never before has the relationship between housing and a strong, resilient community been more clear or compelling.

Inspired by the impact we know housing has on individuals, families and our community, the Housing Trust committed to construction of 24 affordable homes that will serve more than 50 people in our community.

174 North King Street is an opportunity to invest in a housing solution that will help ensure Jackson remains the resilient and vibrant place we know and love.

It is our hope that this project will be a source of optimism for our community. This amazing place that we have the privilege to call our home is full of passionate, resourceful people; together I am confident we will get through this challenging time.

Sincerely, ANNE CRESSWELL Executive Director

Not only does housing provide stability for people we rely on every day, housing is also a grounding force for our community.

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collaboration Public and Private Partnerships Get Housing in The Ground 174 NORTH KING STREET 1 BEDROOM In 2019, the median price of a home in Teton County reached new heights: $1.74M. In stark contrast, a family of four earning the area median income of $102,000 might be able to purchase a $400,000 home.

Thanks to quick action by the Jackson Town Council, the Housing Trust will soon launch our 8th housing project at 174 North King Street.

As a 501(c)(3) developer, it is incumbent upon us to maximize every development opportunity. To that end, we have embarked on a capital campaign that will leverage the Town’s generous contribution of land and $1.25M. Local housing for the workforce means that we can preserve our sense of community, reduce commuter traffic, and protect our natural resources.

Without it, our quality of life and the organizations we rely on every day will suffer.

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H O US I N GTR USTJ H.O R G

1 BEDROOM

3 BEDROOM

Affordable, urban living in Downtown Jackson

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innovation Free Market Commercial Space Generates Meaningful Revenue In the face of rapidly rising costs, it is imperative that we take advantage of every opportunity to secure revenue or carefully cut costs.

For the first time in Jackson’s history, multi-use zoning affords the Housing Trust the ability to develop and sell grade A commercial office space on the first floor of 174 North King Street. Our budget forecast reveals that the sale of covetable office space, located near the heart of downtown Jackson could satisfy 15% of our total project costs.

Not only does the mixed-use zone allow us to generate meaningful revenue to offset the cost of each affordable home, but it also demonstrates smartly built, quality housing conveniently located near pathways and public transportation.

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H O US I N GTR USTJ H.O R G

the property Class A commercial office space in the heart of downtown Jackson available summer 2021

featuring Commercial A - 1,219 sq. ft.

Commercial B - 1,299 sq. ft.

11 ft. finished ceiling 40% glazing to maximize natural light

Custom fit-out Access to on-site parking 2 private bathrooms Space for kitchen and conference room Forced air HVAC and sprinklers 2 basement storage units 7

stewardship Homeowners and tenants like Shelly, Jeff, and Ellen inspire us all by sharing the value of stewardship through their career and civic contributions.

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H O US I N GTR USTJ H.O R G

Shelly Nields small business owner trust homeowner

Licensed childcare providers are in high demand in Teton County. The cost of living locally can make it impossible to recruit and retain qualified staff. Enter Shelly Nields, owner and operator of Williams’ Little Learners Academy. Nields has served hundreds of families and children through daycare and pre-k education. “As a parent, I understand how difficult it is to entrust the care of your child to others. It’s important to me that everyone who comes to Little Learners has a great experience. I also believe that good childcare allows parents to fully focus on the workday.”

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Jeff Broeder 1st grade teacher trust homeowner

Jeff Broeder has been an educator at Wilson Elementary School for 7 years. Jeff shares his love of the outdoors with his 1st graders through outdoor fieldtrips. “Every year, we partner with Wyoming Fish and Game to provide students with a bucket of wiggly Cutthroat to release.

Many students have never held a fish before, so you can only imagine the energy during this unique opportunity.”

“COVID – 19 has forced my wife Kristen and me to make extreme adjustments in our daily life. The fact that we don’t have to be concerned about our housing situation is something that comes to mind often. Our home has provided us comfort and given us a space to effectively continue our work outside of the office and classroom.”

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H O US I N GTR USTJ H.O R G

Ellen Ewankow

electrician apprentice redmond street rentals tenant Affordable rental rates have allowed Ellen Ewankow to focus on her apprenticeship and serve as a volunteer at the Animal Adoption Center. “Without the long commute, I can devote more than 8 hours per day to my school and working overtime.”

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5%

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B e rte H i r s c h f i el d, Chairwoman Kim S t ert ze r, Vice-Chairwoman A my M i n el l a , Treasurer Da l e H oy t, Secretary Ly n n e Wag n e r Sta n Z a i s t Kat y N i n e r A l e xa n der Fr i edm an Lann i e H o g lu nd A l e xi s D i t t m e r

2019 Housing Trust Financials

ADMIN

Board of Directors

Emeritus A rne Jo rg en s e n Ma rgot S n owd on Fr an c e s Te s s l e r Advisory B omber Brya n B ob H a rt ma n

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H O US I N GTR USTJ H.O R G

PROGRAMS 63%

Board Member Spotlight

Alexander Friedman

Through all of these ‘homes,’ I always found myself coming to Wyoming when I had time off. First it was the Wind River Range, and then the Tetons. I had a dream that one day, maybe I could live here with a family I did not yet have. Like a lot of life, how I got here is a reminder of just how serendipitous our journeys may be.

In 1996, I shared a tent on an expedition in a remote region of Kazakhstan with a climber from Jackson named Christian Beckwith.

Over the next decade, even as my professional life took me from one ‘home’ to another, I kept coming back to Jackson to climb in the Tetons with Christian. His extra bedroom became more of a home than any other place I knew, except for maybe Lupine Meadows. Every year when we would start on that trail, I had that warm feeling of being where I really belonged.

What is a home? For some it is a physical space. For others it is the people they are surrounded by. For me, for the last fifteen years, it has been an idea.

I have lived in a lot of different places in my life: New York, DC, Chicago, Seattle, Zurich, and London. For a while, I traveled so much I would get hand-written notes on my birthday from airline executives – I knew it was a bad sign.

Life often takes us down unusual paths. For me it was an unintended decade in Europe, with regular commuting to Jackson Hole. A few years ago, my wife and I got pregnant. We looked at each other and asked ourselves where we wanted to raise this miracle baby we had hoped might one day come. It did not take long for us to both leave our jobs, pack up our belongings, put our red Labrador in his crate, and fly half way around the world.

Alex recently co-authored The Big Thing, a children’s book about finding the silver linings in a changed world. The book is available to order in paperback or on Kindle, with all proceeds going toward UNICEF USA’s COVID-19 relief fund. You can also download it for free at TheBigThing.org.

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H O US I N GTR USTJ H.O R G

The Housing Trust is a nonprofit organization dedicated to cultivating a vibrant community through housing.

We accomplish our mission through collaboration, innovation and stewardship.

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Investing in Community W H E N W E R E S P O N S I B LY I N V E S T I N O U R F U T U R E B Y P R O V I D I N G A F O U N D AT I O N O F S E C U R E A N D S TA B L E H O U S I N G , W E W I N .

110 E. BROADWAY (SECOND FLOOR) JACKSON, WY 83001

307.739.0665 WWW.HOUSINGTRUSTJH.ORG

PO BOX 4498 JACKSON, WY 83001