Civitas Capital Group today announced the closing of a $38.4 million senior loan to finance construction of Fourth Street North Apartments, a new Class A multifamily development in downtown Silverthorne, Colorado.
Located in Summit County in the Town of Silverthorne (population ~4,400), 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% of EB-5 visas reserved for rural projects, which may allow for faster immigration timelines and avoidance of visa retrogression.
All debt financing for Fourth Street North is fully committed.
The project also addresses a critical local housing need: according to a 2023 Summit County housing study — available here — the region will require approximately 2,500 new housing units in the next five years to meet projected demand.
“We’re excited about this offering because it gives EB-5 investors the ability to benefit from rural priority processing while also participating in a market with clear demand for new housing,” said Jeff Kiser, Director and Head of EB-5 Investor Relations for Civitas. “Demand for strong EB-5 projects is exceptionally high right now, and this offering is already drawing significant interest from potential investors.”
Project Details
Construction on Fourth Street North is expected to begin immediately, with first delivery and lease-up scheduled for 2027.
The development will include 72 market-rate residential units across four buildings, encompassing more than 70,000 square feet of residential space and over 10,000 square feet of ground-floor retail. The project is led by Outpost Partners (formerly known as MW Development LLC and, collectively with its affiliates, the Sponsor), building upon the firm’s successful work in the ongoing redevelopment of downtown Silverthorne. Fourth Street North will serve as both a centerpiece and a key connector within the town’s broader master plan.
The architectural design features contemporary mountain-style finishes, blending stone elements with woodgrain siding. The project is located near existing civic and cultural amenities (including the Silverthorne Performing Arts Center and The Art Spot) which are separate, previously completed developments. Fourth Street North will contribute to the continued revitalization of downtown Silverthorne.
Summit County is a renowned destination known for its natural beauty, featuring crystal-clear alpine lakes, vibrant aspen groves, and easy access to the White River National Forest — home to 11 ski resorts. Silverthorne sits approximately 70 miles west of Denver, making it a highly desirable residential and recreational hub.
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