Bank Looks To Take Over Jackson Development Site

A bank could soon take over the site of a long-stalled development project in downtown Jackson.

The Jackson Hole News & Guide reports that Jackson Hole Capital Partners has been trying to build a mixed-use development on the vacant lot for almost four years now.

Now, First Interstate Bank has informed town officials that the property is expected to change hands in the next few weeks.

A bank official did not say in a letter why the bank is taking over the property. But the bank is seeking a 90-day extension on the building permit for the site, which is set to expire April 25.

The permit already has been extended eight times and some town councilors have recently expressed frustration with the delay.

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Information from: Jackson Hole (Wyo.) News And Guide, http://www.jhnewsandguide.com