Hillwood Development Gets It Right – Bar BC Ranch Hits Ten-Year Sales Surge
Just over ten years ago, Hillwood Development, a Ross Perot Jr. company, purchased the historic 1,400-acre Bar BC Ranch once owned by former Wyoming US Senator and Wyoming Governor, Cliff Hansen. At the time, some Jackson Hole residents were worried that this scenic corridor, a pastoral ranch setting at the base of the Teton Mountains, might be developed to the detriment of wildlife and scenic resources.
But Hillwood had a better philosophy. Under the direction of Ross Perot Jr., Hillwood donated 507 acres of the Bar BC Ranch into a permanent conservation easement. With this premise, the Hillwood team also created a plan that limited the density of homesites on the ranch – significantly less so than Teton County land use regulations would have allowed.
The result? Phenomenal success.
“Recognizing the unique nature of the Bar BC Ranch, we decided that it would be best for the Jackson Hole community if we protected the open space of this incredible valley along Spring Gulch Road,” said Fred Balda, President of Hillwood Communities.
In 2013, Hillwood branched out and purchased three ranch parcels from the Lucas family, now referred to as “Bar BC East”, located on the east side of Spring Gulch Road along the Gros Ventre River. These parcels have sweeping Teton Mountain Range views, wildlife corridors, fly-fishing waters and border Grand Teton National Park. To date, two of the three parcels on Bar BC East have sold in addition to fourteen of the original parcels at the Bar BC Ranch.
Tom Evans, Associate Broker with Jackson Hole Sotheby’s International Realty, attributes the sales success at the Bar BC Ranch to several factors.
“The Bar BC combines privacy, accessibility and incredible natural beauty. These attributes are unique compared to other Rocky Mountain resort towns. Jackson Hole remains one of the last bastions of protected open space as part of the greater Yellowstone Ecosystem, ” said Evans. In addition, smart land preservation efforts through the Jackson Hole Land Trust and private owners such as Hillwood Development, ensure that these scenic corridors will remain so in perpetuity. And there are practical reasons for living in Jackson Hole as well.
Bloomberg and the Tax Foundation Organization perennially rank Wyoming as the top state for tax friendliness in the US. The absence of a major tax is a dominant factor in their rankings. For example, there is no state personal or corporate income tax in Wyoming and it has very low property taxes. In addition, while many states are struggling with growing budget deficits, Wyoming has a state budget surplus of over $1 billion. Combine this with the fact that 97% of Teton County’s land is permanently protected as national park, national forest and BLM lands, the reasons for living in Jackson Hole are compelling.
While slow growth and preservation are the mainstays of Jackson Hole, the community itself continues to become more and more vibrant. In 2013/2014 Jackson Hole Mountain resort was named the #1 ski area in North America by Ski Magazine. This may seem like just another magazine award but this one meant a great deal more. Known for its bountiful snow and steep runs, Jackson Hole Mountain Resort was considered by some as an “expert” resort. So Jackson Hole Mountain Resort expanded their intermediate skier experience with more “blue” terrain, a new high-speed chair lift, more grooming, more on-mountain dining and more kid friendly activities.
The economic and lifestyle benefits of living at the Bar BC Ranch are even more enhanced with Jackson Hole’s impressive air service. Now, Jackson Hole airport offers direct flights from JFK, Newark, Washington DC, Chicago, Dallas/Fort Worth, Houston, Denver, Salt Lake City, Atlanta, Los Angeles, San Francisco and Seattle.
With just a few remaining ranch parcels at the Bar BC Ranch, the opportunity to be part of this private enclave is becoming limited. Please contact Tom Evans to learn more.