Civitas announces new active adult development near Aspen
Civitas Capital Group announced the firm has closed on a new development project, Terraces at Tree Farm, near Aspen, Colo.
Notably, the development qualifies as a "rural" project (also known as a "Targeted Employment Area," or TEA) under the definition of the USCIS, allowing EB-5 investors the opportunity to obtain access to set-aside visas and priority processing under the EB-5 Reform and Integrity Act of 2022.
"Terraces at Tree Farm allows Civitas to continue expanding its involvement and capabilities within the housing space," says Rootvik Patel, managing director, investments, at Civitas Capital Group. "While we continue to look for opportunities to acquire and develop properties directly, our experience with the EB-5 program allows us to also provide debt financing within the residential space to help capitalize quality deals, especially in periods where access to debt financing has tightened."
Terraces at Tree Farm is a 72-unit, class A active adult commun