Capital Square formed a joint venture with May Riegler Properties to develop Steamboat Basecamp, which has been funded by nearly $17 million raised from accredited investors in CSRA Steamboat Basecamp LLC, a private placement investment sponsored by Capital Square. Capital Square and May Riegler have partnered with KASA Architecture, which serves as building architect, Deneuve Construction, which serves as the project’s general contractor, and JNS Architecture, which oversees interior design.
“Steamboat Springs enjoys high employment and projected future job growth of 57% during the next decade, making it an ideal area for those seeking a live-work-play lifestyle,” explained Adam Stifel, chief development officer. “The local real estate market is thriving, with demand for housing far outpacing available supply, resulting in significant price appreciation. Steamboat Basecamp will help to satisfy demand for quality housing in the area, while providing potentially significant upside for investors in the development.”
Steamboat Basecamp lies at the “main and main” of the rapidly growing neighborhood of West Steamboat, just off Highway 40 and less than two miles from downtown Steamboat Springs. The popular Steamboat Ski Resort, which is in the midst of a $200 million expansion that will make it the second largest ski resort in the state, is just four miles from the development.
- 75 for-rent apartment units
- 30 condominiums available for purchase
- 14 townhomes available for purchase
- Nearly 8,000 square feet of leasable retail space
Nestled in the Rocky Mountains approximately 150 miles northwest of Denver, Steamboat Springs is a popular year-round tourist destination often referred to as “Ski Town USA” for its excellent skiing and snowboarding opportunities. This stunning area also has geothermal hot springs, zip lining, rafting, and many other outdoor activities enjoyed by residents and more than 500,000 visitors annually. The rustic city was founded in 1900, making it rich in history that focuses on miners, ranchers, and the Native American Ute tribe.
Steamboat Basecamp is less than two miles from a flourishing downtown area which has a variety of restaurants and entertainment venues. Where the adventurous spirit meets functional living, these properties will offer residents access to a communal rooftop lounge, courtyard and a ski and bike tune-up shop.