Izo Capital has extended a $25.6 million construction loan to Sundance Properties for the Flats at Alpine Junction, a multifamily project in Alpine, Wyoming, roughly 12 miles from Jackson Hole. The 24-month senior debt finances Phase 1 completion of the development, which will deliver 64 apartments.
Alpine sits in Teton County, one of the West's tightest housing markets. Jackson Hole's tourism economy and seasonal worker demand have strained rental supply for years. New multifamily inventory near the resort town addresses a persistent gap between workforce housing needs and available units.
Izo Capital, a Denver-based lender, structured this loan as senior construction financing, meaning it holds first lien position on the asset. The 24-month timeline gives Sundance Properties runway to stabilize occupancy before the debt matures, a standard construction-to-permanent transition window.
For developers like Sundance, this financing removes execution risk on Phase 1. The $25.6 million covers hard costs, soft costs, and contingencies needed to lease and stabilize 64 units. Completion timelines in mountain resort markets often stretch beyond urban markets due to weather, labor availability, and supply chain delays, making the 24-month window realistic but tight.
For multifamily investors and landlords in the Jackson Hole corridor, new Phase 1 delivery signals competitive pressure on rents as supply increases. Existing properties may see moderation in year-over-year rent growth once the Flats at Alpine Junction stabilizes, though seasonal demand typically cushions downside.
Renters benefit from new, modern product. Alpine Junction will likely feature contemporary finishes, parking, and amenities that command higher rents than older stock. Workforce housing remains constrained, however, so rent levels may still exceed what service workers and