So I made it out of a knit: ponte - one icy gray and the other chocolate brown.
This provided an opportunity to explore raw edges, and to learn more about knits. Ponte is a stable knit - rayon, poly, and lycra, I think. It has a modest amount of stretch crosswise and almost none lengthwise.
Anyway I think that stretch around the body is only needed on the sleeve bands and the hem bands. The bands are slightly smaller than the piece they are sewn to, and so should be stretched while sewing.
Using the selvage, I left the edges raw for the collars - one in each color - as well as for the sleeve bands. As mentioned above, the sleeve band piece is more narrow than the sleeve piece. In order to use the selvage as the raw edge I cut these bands lengthwise - so no stretch. This was easy to fix by just cutting the bands wider.
The selvage for a ponte is not gorgeous but it's a little different.
The jacket hems and the front are also raw edges. (I learned that) a steady hand on the rotary was needed for those raw edges. Since the inside seams show down the front, (I also learned that) a steady hand was required on some seams. I top-stitched most of the seams on either side of the stitched line.