Small sleepy town wins big victory over 'tone-deaf' billionaire's plans to build luxury resort: 'We'll see what happens next'

The billionaire proprietor of nan Chicago Clubs has scrapped his plans to build a luxury edifice successful a sleepy colony successful Wyoming pursuing fierce guidance from locals.

Joe Ricketts this week ordered crews to instantly extremity building connected his $50million tourer retreat successful Bondurant to nan delight of its 156 residents.

Locals had powerfully opposed nan Wall Street trader's plans to works a swanky caller 230,000-square-foot retreat successful nan colony and rename it 'Little Jackson Hole' to pull precocious rollers from New York and Los Angeles.

Residents said his 'tone deaf' plans would 'erode' their culture, destruct wildlife and thrust up nan cost of living. 

After a toxic four-year battle, it appeared Ricketts had won nan time aft Sublette County greenlit nan project.

But he has now decided to ditch it altogether aft officials denied him an exemption from seasonal building restrictions, a determination nan billionaire claimed would double building clip and summation nan costs by $60million to $100million.

Construction had already begun connected nan caller resort, called Homestead, but Ricketts has now told workers to reconstruct nan tract to its earthy condition, WyoFile reported.

'While building of nan [resort] successful its astir basal shape was ever a constricted worth aliases financial finance proposition, nan further costs simply make it prohibitive to continue,' Ricketts' supplier Steve Christensen wrote to Sublette County commissioners. 

'Consequently, Mr. Ricketts has directed each building cease and to return nan hilltop to its original shape — aliases astatine slightest arsenic overmuch arsenic possible.'

The taxable statement of nan July 8 memo was titled, 'the End of nan Homestead'.

Christensen said nan determination would costs Sublette County 100 to 150 jobs. 'We tin only estimate connected nan afloat grade of nan economical reverberations and consequences,' he wrote successful nan memo.

The seasonal building restrictions are applied to each building projects to protect nan 150-mile-long Sublette Mule Deer Migration Corridor.

Ricketts abrupt determination to scrap his 'Little Jackson Hole' dream has raised eyebrows fixed his erstwhile efforts to push it done successful nan look of fierce resistance.

He was truthful keen connected nan thought that he invited Bondurant residents successful March to a 7 people repast pinch goodie bags for everyone to person them.

At first mention of nan renaming though, astir locals sewage up and near successful protest.

The agelong struggle has near residents doubtful complete whether this is genuinely nan extremity of nan saga.

'I saw them propulsion retired nan stone crusher today, and I've seen a batch of trucks moving down nan road,' Dan Bailey told WyoFile. 'It's bully news, but I'm unconvinced [it's over] astatine this point. We'll spot what happens next.'

The TD Ameritrade laminitis had claimed his $50million task would beryllium a boon to nan area, drafting successful fistfuls of tourism dollars while strengthening conservation efforts successful nan Mountain West.

The 20-unit analyzable included plans for an underground time spa, 90-seat good eating restaurant, beauty shop, and equine operation.

Neighboring lodgings were sketched retired to accommodate nan resort's 134 early employees.

It was group to screen 56 acres of his 1,300-acre Jackson Fork Ranch, which spans nan first 9 miles of nan Upper Hoback 23-174, a contiguous swathe of ranchland punctuated by nan overseas backstage residence.

He faced an uphill conflict to triumph complete locals, however, who for years had deliberately shunned nan glitz and nan glamor that has seen Jackson Hole go a tourer trap.

In April this year, Ricketts' besides bought nan White Pine Ski & Summer resort, 1 of Wyoming's oldest skis areas that boasts astir 30 runs, rustic accommodations and miles of Nordic trails.

He followed that up pinch nan acquisition of High Country Suites, besides successful Pinedale, successful May.

Locals speculated these acquisitions were meant to dovetail pinch his plans for 'Little Jackson Hole'.