Famed Wyoming Ranch Offered for Sale
A relic of Jackson Hole's frontier past could be subdivided for private retreats.
By Jim Carlton | Online Only | Dec. 5, 2001
JACKSON, Wyo. — The Teton Valley Ranch near here looks much as it has for 63 years: rustic cabins creaking in the breeze, thermal springs gurgling past aspens, the mighty Grand Tetons soaring nearly 14,000 feet above the valley.
But big changes are in the wind for this bastion of Old West lore and heritage, whose breathtaking scenery was used as a location for the 1953 Western movie classic Shane. The ranch is also known to the rich and famous all over the world; for decades, it hosted a summer camp attended by thousands of youngsters including offspring of gilded families such as the Rockefellers, DuPonts and Kennedys. The late King Hussein of Jordan sent a child here, as did the family of aviation great Charles Lindbergh.
Now, the 151-acre ranch has been put on the block for $50 million, and that's stirring a fuss up and down the Jackson Hole valley.
On one side are descendants of Wendell and Mary Ellen Wilson, who bought the Teton Valley Ranch Camp in 1938 and say they have to liquidate the property because the family can't afford the inheritance taxes that would be required to keep passing it to new generations. Land values have soared too much, they say. "We don't have a lot of money, so our major asset is the ranch," says one of the founding couple's sons, Phil Wilson.
Janet Norquist Gonzales/The Wall Street Journal
Opposing the sale are many of the newcomers who have flocked to the valley in recent years, sending its real-estate values to the stratosphere. They say the ranch, with its sweeping vistas and plethora of outdoor activities, provides Jackson Hole, the valley surrounding Jackson, with one of the last cultural links to its frontier past. They fear the ranch may be carved into small "ranchettes," which under state law have to be at least 35 acres. That's too small for real cattle ranching, leaving the ranchettes to serve predominately as private retreats for the wealthy, say the development opponents; they add that the land could be subdivided even further under a county zoning variance.
"A handful of people would benefit and generations who have used the ranch would lose," says Jonathan Schechter, a local economic consultant.
Since listing the property a few weeks ago, Sotheby's International Realty brokers, representing the family, say they have received "serious interest" from two unidentified prospective buyers. The Wilson family had given operators of the Teton Valley Ranch Camp, which lease the ranch for their summer youth program, first crack at bidding for the property. But they say they rejected the offer submitted by the camp in July—roughly $8 million—as far too low. They note that 35 acres of nearby ranchland recently sold for about $11 million.
The dispute over the future of Teton Valley Ranch marks the latest chapter in this valley's seemingly inexorable shift from a primarily ranching and agricultural economy to one based largely on tourism and income and taxes from well-heeled landowners. Actor Harrison Ford lives on a riverfront ranch he bought in the 1980s when the trend was beginning; other notables with homes in the area include World Bank director James Wolfensohn and Alan Hirschfield, former head of Columbia Pictures. The valley's most prominent resident is Vice President Dick Cheney, a Wyoming native whose home sits in a wooded grove near the base of the Jackson Hole Mountain Resort.
Similar struggles between development and conservation have been playing out all across the Rocky Mountain West in recent years, as alpine towns like Jackson that used to depend on extraction of the abundant natural resources have become almost completely transformed by an influx of tourism-related businesses and telecommuters. Besides making it harder for longtime residents to stay—the median home price here in Teton County has roughly tripled to $590,000 from $155,000 over the past decade—the trend has potentially profound political implications. The county's population has nearly doubled, to about 20,000, and places like Jackson are increasingly vocal against economic activities that might endanger the environment, such as the Bush administration proposals for more drilling on the public lands.
Historic barn on Teton Valley Ranch
Credit: WSJ
The development that has inevitably accompanied the transformation of these towns is also increasingly being criticized by residents, who say it diminishes the pastoral charm that has made the rural West so attractive a place to live and visit. One of the main problems is that often the communities abut public land areas such as national forests or national parks, restricting building to a sliver of private land. Here in Teton County, for example, only 3% of the land is private, with the rest locked up in forests, preserves and the Grand Teton National Park.
That's why the future of the Teton Valley Ranch excites such interest. The ranch has an illustrious history. It was once owned by a son of David Abercrombie, co-founder of the Abercrombie & Fitch chain of outdoor stores. After the Wilsons bought it, they almost immediately started the summer camp. While the family pursued other interests, such as raising Texas longhorn cattle, it was the Teton Valley Ranch Camp that gained international acclaim. Twice each summer for the past 60 years, groups of 125 youngsters have embarked on a monthlong adventure that included everything from sunrise horseback rides to nighttime campfire songs.
An example of new construction springing up in Jackson Hole Valley
Credit: WSJ
"It's a place that allows you to challenge yourself in the wilderness, like when I backpacked up to the top of a peak for the first time," says 34-year-old Percie Griffith, who first began visiting the camp as a teenager from McLean, Va., and now lives in the valley as a resort marketing director.
The serenity the campgoers experienced was recently captured as Steve Duerr, director of the Jackson Hole Chamber of Commerce, led a horseback tour on the ranch and surrounding land. Pines whispered in the wind, which also ruffled the sweet-smelling sage. "It was the perfect place to raise children," says the 47-year-old father of four.
Phil Wilson also has fond memories of growing up on the ranch. But he says the spiraling real-estate valuations prompted him and the seven other property owners to decide to sell the place. The owners include his sister, their 84-year-old mother and her five grandchildren. "We all want to see a fair return," says the 58-year-old Mr. Wilson, who now lives on a ranch in Nevada.
Although Mr. Wilson says he would like to see the property preserved, he acknowledges he would have no control over what the new owner would do with the place. In fact, the potential for upscale development is being touted in a Sotheby's promotional brochure: "Whether you build atop the majestic butte, or down alongside the river, you'll be awed by magnificent views in every direction."
Such a prospect dismays local conservationists. "Subdividing that place would be truly sacrilegious," says Leslie Petersen, a board member of the Jackson Hole Conservation Alliance group and local real-estate broker.
Mr. Wilson counters: "They're welcome to buy it if they don't like what we're doing."
As a contingency, a group of camp alumni recently formed the nonprofit Save Teton Valley Ranch Camp, which has launched a fund-raising campaign to move the camp elsewhere in the valley if need be. So far, they have raised about $5 million of the $10 million to $15 million they estimate would be needed.
"The success of this campaign is critical, because lands dedicated to children and their spirit are rare," Terry May, president of the nonprofit group, said in a letter to supporters. "Once lost, they are irreplaceable."
—Jim Carlton is a staff reporter of The Wall Street Journal.
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