Billionaire Joe Ricketts has ordered crews to immediately stop construction of his long-planned Sublette County luxury resort, and restore the area to its natural condition.
A project that would have made a tourist destination out of the tiny, sleepy Hoback River basin community of Bondurant has been called off because of protective wildlife stipulations that abbreviated the construction season. Ricketts sought an exemption from the seasonal restrictions, which he claimed in a memo obtained by WyoFile would have increased the cost of building the high-end all-inclusive resort by $60 million to $100 million, but his request was denied.
“While construction of the [resort] in its most basic form was always a limited value or financial investment proposition, the additional costs simply make it prohibitive to continue,” Ricketts’ agent Steve Christensen wrote to Sublette County commissioners. “Consequently, Mr. Ricketts has directed all construction cease and to return the hilltop to its original form — or at least as much as possible.”
The subject line of the July 8 memo was titled, “the End of the Homestead” — the name that Ricketts used for the under-construction facility.
Christensen stated that the project’s end is a “significant economic loss,” costing Sublette County 100 to 150 jobs. “We can only speculate on the full extent of the economic reverberations and consequences,” he wrote in the memo.
Sublette County commissioners did not respond to WyoFile’s request for comment on Tuesday.
Ricketts, whose fortune exceeds $7 billion, had been attempting to push through the resort for years. Largely, the Bondurant community had been opposed to the plans, though there was a showing of support for the TD Ameritrade founder’s project at a public meeting he hosted last year in Pinedale.
At least one Bondurant resident who caught wind of the resort’s demise is skeptical that it’s truly the end of a years-long fight.
“I saw them pull out the rock crusher today, and I’ve seen a lot of trucks moving down the road,” Dan Bailey told WyoFile. “It’s nice news, but I’m unconvinced [it’s over] at this point. We’ll see what happens next.”
This will have little effect on Sublette County. I think he is hoping to see a change in County Commissioners so that he can try to circumvent his agreement one more time. Hope we see the Commissioners add another no vote to the three we got this time. Voters – research your candidates!
Well said. But don’t count on either of the two “yes” votes on this project to change to “no”. Research the candidates, and also do what you can to research the personal relationships between County elected officials as well as select County employees, and project owners.
Many of us, Bondurant residents, have smelled a rat since this project raised its ugly head.
something tells me at least 1 “person” was dissapointed upon hearing this as they were promised ab cheap lot on his compound for approving this? Very corrupy town pinedale is, starting with the “sherff”!
Jackson, is the girl who couldn’t say no to big out-of-money. Now Bondurant wants to be the girl that can’t say yes.
Watch him. Just wait he will try this again in a few years, different admin.
Make sure the property goes back to the way it looked like in nature.
This is great news…..but we;ll have to see just what impact the mess he has already made is! I agree with Dan Bailey and the Upper Hoback residents and people of Bondurant……this may be a ploy! Thank you to all the people who have worked so hard to keep the Upper Hoback and Bondurant a beautiful, clean, rural area…safe for people and wildlife!
Hmm, so a rich guy, willing to drop one billion dollars ($1,000,000,000) to buy a UK soccer club, is backing out because his ego satisfying project costs too much? All the while, leaving behind a land-scarred wreck certain to cause erosion, plus abandoned toxic construction materials and fuels to wash into the adjacent stream and watershed? What about the human waste generated in his construction workers man camp? How is that being addressed? Looks like the WY Department of Environmental Quality and/or EPA should see if this monstrous land disturbance will impact the water quality of downstream neighbors, whose wells draw from the same hyporheic zone. Then let Mr Megabucks bear responsibility for his actions, not the taxpayers.
So long billionaire boys club, don’t know where the filthy rich will vacation now.
We will see. Hissy fit until he gets his way of year round construction?
Those jobs can go to “Big Jackson Hole” where they, and the resort, belong.
Good riddance!
Paying attention, Commissioner Noble?
Ditto!
It’s good that he stopped his project. Maybe he’ll go back to California
He is a native of Omaha, Nebraska and currently resides in Jackson. This, “go back to California” trope gets a lot of traction with the uninformed.
I’ve lived in Wyoming since 1969 and one thing I have noticed about transplants from California, they care about the land and try to preserve the natural beauty, not tear up the country side with their side by sides or running down wild life with their snow mobiles so they can torture it in front of their drunk friends.
This is good news for most. Our wild lands and wildlife will benefit, as well as the economic benefits that they bring to the state. Thank you Mr. Ricketts.
Interesting report and please continue the insightful journalistic investigations.