Civitas Capital Group Files Form I-956F for Rural EB-5 Project in Avon, Colorado

DALLAS, Sept. 1, 2026 /CourierPR/ -- Civitas Capital Group has taken a significant step forward in its rural EB-5 project portfolio by filing the Form I-956F with the United States Citizenship and Immigration Services (USCIS) for The Summit, a 164-unit multifamily community in downtown Avon, Colorado. This development marks a crucial milestone for the project, which will now be available to EB-5 investors, providing them with a unique opportunity to participate in a rural Targeted Employment Area (TEA).

The Summit, located in Eagle County, has been designated as a rural TEA, allowing EB-5 investors to participate at the reduced $800,000 investment level instead of the typical $1.05 million. This designation also ensures priority processing of the I-526E petition and access to 20 percent of EB-5 visas reserved for rural projects, potentially expediting the immigration timeline and avoiding visa retrogression.

On August 28, 2026, Civitas announced the successful closing of a $104 million senior construction loan for The Summit, further solidifying its commitment to the project. The development is being spearheaded by Grand Peaks Development, an affiliate of Grand Peaks, a Denver-based real estate investment firm with a 75-year legacy in multifamily housing and over $3 billion in assets under management.

Jeff Kiser, Managing Director and Head of EB-5 Investor Relations at Civitas, emphasized the importance of this filing, stating, "Demand for Civitas rural projects has been robust, particularly as investors seek to file their I-526E petitions before the end of the year. This filing is a significant milestone for the project, and the Civitas Avon fund is expected to accommodate approximately 100 EB-5 investors seeking rural EB-5 opportunities."

Kiser also highlighted the unique public-private partnership behind the project, noting, "This is a project with senior financing in place and moving toward construction. The Town of Avon has committed millions of dollars in public financing, underscoring the community's commitment to this development."

The Summit will feature 164 residential units, including 144 market-rate units and 20 affordable housing units, along with approximately 5,000 square feet of commercial space. The development is situated on an approximately 1.5-acre site at 130 West Beaver Creek Boulevard, with plans to rise five to eight stories over two levels of below-grade parking. Construction is scheduled to commence in the third quarter of 2026.

The project's prime location in Avon's commercial core, just a three-minute walk to Beaver Creek Resort's Riverfront Express gondola and a two-minute walk to the Avon Station bus stop, makes it an attractive option for both individual renters and regional employers. Major regional employers, including Vail Resorts, Eagle County Schools, Vail Health, Sonnenalp Hotel, and the Ritz-Carlton, are among those leasing housing directly to recruit and retain staff.

Civitas Capital Group, with a 100% USCIS approval rate since 2009, has already developed five rural EB-5 projects in Colorado, including Civitas Aspen Fund, Civitas Aspen Fund II, Civitas Aspen Fund III, Civitas Silverthorne, and Civitas Steamboat. These projects have created EB-5 investment opportunities for over 200 families.

The Town of Avon's contribution of up to $11.84 million in public financing reflects its strong support for the project, which is expected to significantly enhance the community's amenities and economic growth.