A billionaire’s best-laid plans to transform a sleepy Wyoming valley into a destination for rich people may be delayed for years.
Chicago Cubs owner Joe Ricketts has long had an appreciation for the American West, which led him to purchase the 1,300-square-foot Jackson Fork Ranch in Wyoming’s Upper Hoback Valley in the late 1990s.
The TD Ameritrade founder, whose family has a net worth of $4.1 billion, has been buying more and more land in the area around the towns of Bondurant and Hoback as he moves to build a swanky new 220,000-square-foot resort nearby.
Ricketts broke ground on the project this spring, much to the dismay of longtime residents, but Sublette County officials voted 3-2 last Tuesday to adopt existing conservation restrictions that will greatly delay construction.
Construction of the planned Ricketts luxury ski area on Upper Hoback Road could take as long as six years to complete now that crews are not allowed to do outdoor work between Nov. 15 and April 30. WyoFile reported.
Joe Ricketts and his wife Marlene pictured at their ranch in Wyoming, which they called Jackson Fork. Ricketts is now trying to cash in on his real estate holdings in America’s least populated state by building a chic ski resort on his land.
A conservation group called for restrictions to protect elk and moose populations. Steve Christensen, who represented Ricketts, tried to make concessions at a town meeting last week
The Wyoming Game and Fish Department, a state conservation agency, requested these restrictions to protect the elk and moose populations in that area.
Steve Christensen, who represented Ricketts at the Sublette County meeting last week, proposed lifting the seasonal restrictions, with some concessions on his part.
These include limiting construction to daylight hours, enforcing a 25-mile-per-hour speed limit on Upper Hoback Road and establishing a “wildlife-friendly migration corridor” across the ranch where construction would take place.
Christensen told county commissioners that without the Game and Fish Department restrictions, construction could be completed in three years instead of six.
Ricketts has been fighting to overturn these seasonal building restrictions since Sublette County approved his bid in 2022 to rezone the area where the 64-room refuge will eventually be built.
At Tuesday’s meeting, Christensen’s argument was echoed by Brandon Scurlock, Pinedale’s regional wildlife coordinator for the Game and Fish Department.
“Our typical recommendation is that the best solution for wintering big game is to adhere to seasonal regulations[ulations]Scurlock said.
“But given all the mitigations that the Jackson Fork Ranch provides and the shorter duration of the disturbance – three years [compared] up to six years – I think the overall net impact on wildlife would be reduced by the shorter duration.”
A lodge on the Jackson Fork Ranch, owned by Ricketts since the 1990s
View of a log cabin on a hill, overlooking the Hoback Basin and mountain views of the Wind River Range, Bondurant, Wyoming
Bondurant and Pinedale residents present at the meeting were outraged by Christensen’s plot, with Dan Bailey calling it a “used car salesman approach.”
“Is there really anyone in this room who believes that construction will stop after three years?” he said.
‘A few months ago it would have been ready in three years… Now we’re saying, ‘Well, it’s going to be six years.’
Scurlock’s support for the plan ultimately did not win enough county commissioners, meaning Ricketts has until Nov. 14 to complete work on the resort by 2024.
Ricketts claims residency at his Bondurant ranch, which he tries to rename Little Jackson Hole, an obvious attempt to steal the fame of ski town Jackson Hole.
His argument is that if the name were changed to something more recognizable to avid skiers with deep pockets, Bondurant could get a big boost in tourism dollars.
He was so enthusiastic about the idea that he invited the residents of Bondurant in March for a seven-course meal with goodie bags so that everyone could convince them.
Ricketts has already acquired more than 1,800 hectares of land in the area, including the White Pine Ski Resort (pictured)
Residents of Bondurant were invited by Ricketts in March for a seven-course meal with goodie bags for everyone. But when Ricketts told them they had changed the name of their town to Little Jackson Hole, most people stood up and left in protest
However, at the first mention of the new name, most locals stood up and left in protest.
“About 75% of the people at that point all got up and left the dinner,” said Pat Burroughs, a longtime resident. “They left the gift bags on the table and just walked out.”
Even though the momentum of Ricketts’ flashy ski resort has slowed, locals are still concerned, considering he’s snapped up more than 1,800 acres of land in the area.
Most recently, he quietly acquired the historic Haliburton Hotel, which locals suspect will support another recent purchase of the White Pine Ski Resort.
Many believe a similar resort could revitalize Bondurant, which has suffered shrinking class sizes at the local school and a litany of hotel, store and restaurant closures.
If Ricketts’ plans succeed, he could become the region’s second-largest employer, offering work that isn’t tied to jobs in volatile industries like oil and gas.
He once described the upcoming travel destination as a “premium resort experience with a mission-driven focus on protecting, preserving and enjoying the natural beauty of the Hoback region.”