Civitas Capital Group Files Form I-956F for The Summit Project in Avon, Colorado
Civitas Capital Group has taken a major step in the evolution of The Summit, a contemporary multifamily community being developed in downtown Avon, Colorado, by submitting Form I-956F to the United States Citizenship and Immigration Services (USCIS). This filing, which occurred on September 1, 2026, is pivotal not only for the project itself but also for potential EB-5 investors looking to benefit from this opportunity.
The Summit will feature a total of 164 residential units, encompassing 144 market-rate apartments and 20 affordable units. Additionally, the complex will include around 5,000 square feet of commercial space, which is poised to further enrich the local economy. Situated on approximately 1.5 acres at 130 West Beaver Creek Boulevard, the development will be strategically located just a few minutes' walk from key amenities, including a gondola to Beaver Creek Resort and public transportation facilities.
This project is classified as a rural Targeted Employment Area (TEA) under the EB-5 program, which allows investors to engage with a reduced minimum investment of $800,000 instead of the standard $1.05 million. This designation also facilitates prioritized processing for I-526E petitions and provides access to a portion of EB-5 visas specifically reserved for rural developments, thus optimizing the immigration timeline for participants.
Civitas reported earlier that it successfully closed a $104 million senior construction loan for The Summit, which speaks to the strong financial backing and commitment to the project. Grand Peaks Development, a third-generation family-owned real estate investment firm based in Denver, is responsible for this ambitious endeavor, with a track record of 75 years in managing multifamily housing developments across the United States.
Jeff Kiser, Managing Director and Head of EB-5 Investor Relations at Civitas, expressed optimism about the filing, emphasizing the growing demand among investors for rural EB-5 opportunities. He noted, "Demand for Civitas' rural projects has been robust, particularly as investors aim to file their I-526E petitions before the end of the year." With plans to accommodate approximately 100 EB-5 investors, The Summit aims to provide them with a viable investment pathway.
Moreover, the project enjoys significant municipal support, including a commitment from the Town of Avon to contribute up to $11.84 million in public financing. This collaboration reflects the vital role the development will play in the community's growth and long-term sustainability.
Construction is slated to begin in the third quarter of 2026, with the development projected to ascend five to eight stories and will integrate two levels of below-grade parking. This is particularly significant as it positions The Summit as one of the last major developments in Avon's central area.
In addition to appealing to individual renters, The Summit is expected to attract major regional employers looking to secure housing for their workforce. Notable entities such as Vail Resorts and Eagle County Schools are among those that may seek to lease spaces to support their recruitment and retention efforts.
As Civitas embarks on this latest venture, it reinforces its dedication to fostering community connections while providing valuable investment opportunities. The Summit will be the sixth rural EB-5 project for Civitas in Colorado, continuing its legacy of creating meaningful employment and housing options through innovative real estate solutions. In total, Civitas has previously developed five rural projects, offering investment openings for over 200 families.
For investors and community members alike, The Summit symbolizes a promising future—one where thoughtful development meets the needs of residents and businesses in Avon. With its unique positioning and comprehensive plans, this project is set to enrich the area both economically and socially, solidifying it as a cornerstone of Avon's upcoming transformations.
The Summit will feature a total of 164 residential units, encompassing 144 market-rate apartments and 20 affordable units. Additionally, the complex will include around 5,000 square feet of commercial space, which is poised to further enrich the local economy. Situated on approximately 1.5 acres at 130 West Beaver Creek Boulevard, the development will be strategically located just a few minutes' walk from key amenities, including a gondola to Beaver Creek Resort and public transportation facilities.
This project is classified as a rural Targeted Employment Area (TEA) under the EB-5 program, which allows investors to engage with a reduced minimum investment of $800,000 instead of the standard $1.05 million. This designation also facilitates prioritized processing for I-526E petitions and provides access to a portion of EB-5 visas specifically reserved for rural developments, thus optimizing the immigration timeline for participants.
Civitas reported earlier that it successfully closed a $104 million senior construction loan for The Summit, which speaks to the strong financial backing and commitment to the project. Grand Peaks Development, a third-generation family-owned real estate investment firm based in Denver, is responsible for this ambitious endeavor, with a track record of 75 years in managing multifamily housing developments across the United States.
Jeff Kiser, Managing Director and Head of EB-5 Investor Relations at Civitas, expressed optimism about the filing, emphasizing the growing demand among investors for rural EB-5 opportunities. He noted, "Demand for Civitas' rural projects has been robust, particularly as investors aim to file their I-526E petitions before the end of the year." With plans to accommodate approximately 100 EB-5 investors, The Summit aims to provide them with a viable investment pathway.
Moreover, the project enjoys significant municipal support, including a commitment from the Town of Avon to contribute up to $11.84 million in public financing. This collaboration reflects the vital role the development will play in the community's growth and long-term sustainability.
Construction is slated to begin in the third quarter of 2026, with the development projected to ascend five to eight stories and will integrate two levels of below-grade parking. This is particularly significant as it positions The Summit as one of the last major developments in Avon's central area.
In addition to appealing to individual renters, The Summit is expected to attract major regional employers looking to secure housing for their workforce. Notable entities such as Vail Resorts and Eagle County Schools are among those that may seek to lease spaces to support their recruitment and retention efforts.
As Civitas embarks on this latest venture, it reinforces its dedication to fostering community connections while providing valuable investment opportunities. The Summit will be the sixth rural EB-5 project for Civitas in Colorado, continuing its legacy of creating meaningful employment and housing options through innovative real estate solutions. In total, Civitas has previously developed five rural projects, offering investment openings for over 200 families.
For investors and community members alike, The Summit symbolizes a promising future—one where thoughtful development meets the needs of residents and businesses in Avon. With its unique positioning and comprehensive plans, this project is set to enrich the area both economically and socially, solidifying it as a cornerstone of Avon's upcoming transformations.
Topics Consumer Products & Retail）
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