A project near Buffalo that seeks to provide homesites while preserving the open-space integrity of a Wyoming ranch is holding a grand opening this weekend.

The Sand Creek Ranch Conservation Community is offering 99 one-acre parcels that will be configured into 36 smaller ranch "neighborhoods" of one to five homes.

"These neighborhoods are intended to replicate the way an original ranch evolved," said Karen Buffington, broker for RE/MAX Mountain West Realtors in Buffalo.

Historically, the homestead house would be the first building, which might be followed by a new house, then houses for children. The result would be clusters of buildings at different locations.

Owners of Sand Creek home sites are encouraged to incorporate a Western or rustic character in their buildings, Buffington added.

"When you buy what we call a ranch interest at Sand Creek, you're not just buying the fee parcel," she said. "It's a one-acre deeded parcel, but it's also a one-99th share in the ranch itself. So you become a part of the ownership of the ranch as a whole."

The result is that most of the 836-acre ranch will be preserved for agricultural use. The ranch also has early priority water rights that will be preserved, and there is a conservation easement for the property, Buffington said.

The ranch is owned by John Jenkins, who with his wife, has purchased two ranch interests and plans to continue living on the place, Buffington said. As of Tuesday, 11 interests had been sold and 16 had been spoken for.

Buffington expects the project to be a mix of primary residences and second homes.

After today, individual interests will sell for between $210,000 and $280,000.

Business Editor Tom Mast can be reached at tom.mast@trib.com, or call 307-266-0574.