Cygnus acquires Jackson, Wyo. development

 

One of Jackson, Wyoming’s highest-profile real estate busts, Snake River Sporting Club, is about to lift the curtain on its second act.

An Atlanta, Georgia-based investment firm, Cygnus Capital, bought the bankrupt 359-acre property earlier this year, and the Jackson Hole News & Guide reports that its minimally maintained 18-hole golf course is expected to reopen in the spring of 2014, after improvements are made to its turf.

Snake River, which once called itself “the ultimate outdoor community in the western United States,” was among the first victims of the real estate scourge that swept the nation during the Great Recession. Its centerpiece, a Tom Weiskopf-designed track, will eventually be flanked by 65 estate houses (43 lots have reportedly been sold), and Cygnus has acquired a nearby ranch where Snake River’s members will be able to keep their horses.

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