Civitas Reaches Key EB-5 Milestone With I-956F Filing for The Summit in Avon, Colorado

DALLAS, Sept. 1, 2026 /PRNewswire/ -- Civitas Capital Group today announced that it has filed Form I-956F with United States Citizenship and Immigration Services (USCIS) for The Summit, a 164-unit Class A multifamily community in downtown Avon, Colorado.

The filing represents a key step in making the project available to EB-5 investors. Located in Eagle County, the project qualifies as a rural Targeted Employment Area (TEA) under the EB-5 program. Rural TEA designation enables EB-5 investors to participate at the reduced $800,000 investment level (versus $1.05 million), receive priority processing of the I-526E petition, and access the 20 percent of EB-5 visas reserved for rural projects, which may allow for faster immigration timelines and avoidance of visa retrogression.

On August 28, 2026, Civitas announced the closing of a $104 million senior construction loan for The Summit.

The Summit is being developed by Grand Peaks Development, an affiliate of Grand Peaks, a Denver-based, third-generation real estate investment firm with a 75-year family legacy in multifamily housing. The firm specializes in the development, acquisition, and asset management of apartment communities in high-growth markets across the United States, with approximately $3 billion in assets under management and over 11,000 units across 40 active assets in eight operating markets.

"Demand for Civitas rural projects has been strong, particularly as investors look to file their I-526E petitions before year-end," said Jeff Kiser, Managing Director and Head of EB-5 Investor Relations at Civitas.  "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 added: "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."

The Summit is Civitas' sixth rural EB-5 project in Colorado, following Civitas Aspen Fund, Civitas Aspen Fund II, Civitas Aspen Fund III, Civitas Silverthorne, and Civitas Steamboat. Those five rural projects created EB-5 investment opportunities for over 200 families.

The Town of Avon will contribute up to $11.84 million in public financing, reflecting municipal support for the project.

Project Details

The Summit will deliver 164 residential units, including 144 market-rate units and 20 affordable housing units, along with approximately 5,000 square feet of commercial space on an approximately 1.5-acre site at 130 West Beaver Creek Boulevard. The development will rise five to eight stories over two levels of below-grade parking on one of the last undeveloped parcels in Avon's town center.

Construction is scheduled to begin in Q3 2026.

The Summit is centrally located in Avon's commercial core with only a three-minute walk to Beaver Creek Resort's Riverfront Express gondola and a two-minute walk to the Avon Station bus stop. It is also a convenient 10-minute drive to Vail and 30-minute drive to Eagle County Regional Airport.

Demand is not limited to individual renters. Major regional employers, including Vail Resorts, Eagle County Schools and Eagle County Government, Vail Health, Sonnenalp Hotel, and the Ritz-Carlton lease housing directly to recruit and retain staff.

About Civitas Capital Group

Civitas Capital Group is a leading EB-5 regional center operator and trusted real estate capital partner. Since 2009, Civitas has invested in over 50 real estate development projects with a 100% USCIS approval rate, always anchored by the firm's core values of Focused Creativity, Institutional Stewardship, and Respect & Grace. On behalf of thousands of EB-5 investors and their families, the firm digs deeper to uncover opportunities that others miss, combining decades of underwriting experience with flexible structuring and uncompromising integrity. The result: Civitas is trusted by EB-5 investors and real estate innovators to deliver creative solutions, disciplined execution, and enduring commitment.

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Learn more at civitascapital.com.

SOURCE CIVITAS CAPITAL GROUP