Civitas Capital Group Files EB-5 I-956F for 164-Unit Summit Development in Avon, Colorado
DALLAS, Texas — Sept. 1, 2026 — Civitas Capital Group has filed Form I-956F with U.S. Citizenship and Immigration Services for The Summit, a 164-unit Class A multifamily development planned for downtown Avon, Colorado. The filing marks a key step toward making the project available to EB-5 investors and follows the August 28 closing of a $104 million senior construction loan for the development.
The Summit is being developed by Grand Peaks Development, an affiliate of Grand Peaks, a Denver-based, third-generation real estate investment firm with approximately $3 billion in assets under management and more than 11,000 units across 40 active assets in eight operating markets. The firm has a 75-year family legacy in multifamily housing and specializes in the development, acquisition, and asset management of apartment communities in high-growth markets across the United States.
Project Details and Site
The Summit is planned for a roughly 1.5-acre site at 130 West Beaver Creek Boulevard in Avon's town center — described as one of the last undeveloped parcels in the commercial core. The building will rise five to eight stories over two levels of below-grade parking and will deliver 164 residential rental units, including 144 market-rate units and 20 affordable housing units, along with approximately 5,000 square feet of commercial space.
The Avon Town Council approved the project in March 2026. Construction is scheduled to begin in the third quarter of 2026. The site sits within walking distance of Beaver Creek Resort's Riverfront Express gondola and the Avon Station bus stop, and is approximately a 10-minute drive to Vail and 30 minutes from Eagle County Regional Airport.
The Town of Avon has committed up to $11.84 million in public financing for the development. Major regional employers — including Vail Resorts, Eagle County Schools, Eagle County Government, Vail Health, Sonnenalp Hotel, and the Ritz-Carlton — lease housing directly to recruit and retain staff, underscoring demand in the Vail Valley market.
EB-5 Structure and Rural TEA Designation
The Summit qualifies as a rural Targeted Employment Area under the EB-5 program by virtue of its location in Eagle County. That designation carries several advantages for prospective investors: a reduced minimum investment threshold of $800,000, compared with the standard $1.05 million; priority processing of I-526E petitions; and access to the 20 percent of EB-5 visas set aside for rural projects, which can reduce visa retrogression risk and shorten immigration timelines.
The I-956F is the project application that EB-5 regional centers file with USCIS, detailing project business plans, job creation methodology, and capital structure. Civitas' filing for The Summit opens the door for investors to file I-526E petitions referencing the project.
Jeff Kiser, Managing Director and Head of EB-5 Investor Relations at Civitas, said demand for the firm's rural projects has been strong, particularly as investors look to file I-526E petitions before year-end.
"This filing is an important milestone for the project, and Civitas Avon fund is expected to accommodate approximately 100 EB-5 investors seeking rural EB-5 opportunities with Civitas," Kiser said.
Kiser also noted the project's public-private financing structure. "This is a project with senior financing closed and moving toward construction. It also has something distinctive behind it: the Town of Avon committed millions of dollars in public financing for the development. That kind of public-private partnership speaks to how important this project is to the community it serves," he said.
With a minimum investment of $800,000 and capacity for approximately 100 investors, the Civitas Avon fund could raise up to roughly $80 million in EB-5 capital if fully subscribed.
Civitas' Colorado Rural EB-5 Track Record
The Summit represents Civitas Capital Group's sixth rural EB-5 project in Colorado. The firm's prior Colorado rural projects — Civitas Aspen Fund, Civitas Aspen Fund II, Civitas Aspen Fund III, Civitas Silverthorne, and Civitas Steamboat — collectively created EB-5 investment opportunities for more than 200 families.
Civitas Capital Group, founded in 2009, operates as an EB-5 regional center and real estate capital partner. The firm states it has invested in more than 50 real estate development projects and reports a 100 percent USCIS approval rate across its portfolio.
Sources
More Development
