Construction on The Summit in Avon, Colorado begins - A multifamily real estate development near vail. The Summit, a new multifamily development in Avon, Colorado, is expected to be completed in 2029. Grand Peaks, a Denver-based multifamily real estate development and investment firm, in partnership with Silverton Holdings, LLC, has commenced construction on The Summit, a 164-unit multifamily development in the heart of downtown Avon, Colorado. Construction financing for the project was provided by Civitas Capital Group. Scheduled for completion in 2029, The Summit will deliver new rental housing to one of Colorado's most supply-constrained mountain communities, including 20 deed-restricted community housing residences and 16 workforce housing units for Eagle County residents earning up to 100% of area median income as part of the development's affordable housing component. Energy-Efficient design and resident amenities. According to the 2025 Eagle County Regional Housing Needs Assessment, Avon has a net housing need of approximately 1,458 units, including more than 1,070 rental units. Focused on energy efficiency, the units will be all-electric and will use the Town of Avon's innovative heat recovery system to help heat the building and reduce energy consumption. Property amenities will include a fitness center, game room, dedicated ski and gear storage, three hot tubs, outdoor courtyards and lounge areas, remote work office space and an underground heated parking garage. The property will include approximately 5,000 square feet of ground-floor community and commercial space and create new pedestrian pathways and public-realm improvements designed to connect West Beaver Creek Boulevard, the Avon Pedestrian Mall and the surrounding town center. Connected to downtown Avon. Less than a five-minute walk from the Riverfront Express Gondola, Nottingham Park, the Avon Recreation Center and Avon Public Library, and restaurants, shops and local businesses throughout downtown Avon, The Summit will place residents within easy reach of Beaver Creek Resort and the heart of the community. "The Summit is the result of a long and collaborative process with the Town of Avon, neighbors and community stakeholders," said Alan Simpson, director of development for Grand Peaks. "This is a rare opportunity to transform a long-underutilized gem of a location in the center of Avon into meaningful new housing, community-serving space and a strong pedestrian connection through the heart of downtown. "We are especially proud that the project will include homes dedicated to Eagle County's local workforce, ensuring that residents can live in the community where they work. We are grateful to the Town of Avon, whose partnership and thoughtful approach helped shape a development that responds to the community's housing needs and enhances downtown's vibrant character." Grand Peaks' multifamily investment strategy. The Summit is the latest project in Grand Peaks' broader strategy of developing and investing in multifamily communities located in markets with strong long-term housing demand, durable economic fundamentals and significant barriers to new supply. About Grand Peaks: Founded in 2003 by brothers Luke and Nick Simpson, Grand Peaks is a third-generation real estate investment firm with a 75-year family legacy in multifamily housing. Headquartered in Denver, the firm specializes in the development, acquisition, repositioning and asset management of apartment communities. Grand Peaks currently operates in eight markets with approximately $3 billion in assets under management and $1 billion in equity invested. The firm partners with institutional investors and family offices to pursue multifamily opportunities through disciplined underwriting, proactive asset management, and strategic capital deployment.

National multifamily firm Grand Peaks begins construction on 164-unit The Summit near vail. September 17, 2026 Grand Peaks, a Denver-based multifamily real estate development and investment firm, in partnership with Silverton Holdings, LLC, has commenced construction on The Summit, a 164-unit multifamily development in the heart of downtown Avon, Colorado. Construction financing for the project was provided by Civitas Capital Group. Scheduled for completion in 2029, The Summit will deliver new rental housing to one of Colorado's most supply-constrained mountain communities, including 20 deed-restricted community housing residences and 16 workforce housing units for Eagle County residents earning up to 100% of area median income as part of the development's affordable housing component. According to the 2025 Eagle County Regional Housing Needs Assessment, Avon has a net housing need of approximately 1,458 units, including more than 1,070 rental units. Focused on energy efficiency, the units will be all-electric and will use the Town of Avon's innovative heat recovery system to help heat the building and reduce energy consumption. Property amenities will include a fitness center, game room, dedicated ski and gear storage, three hot tubs, outdoor courtyards and lounge areas, remote work office space and an underground heated parking garage. The property will include approximately 5,000 square feet of ground-floor community and commercial space and create new pedestrian pathways and public-realm improvements designed to connect West Beaver Creek Boulevard, the Avon Pedestrian Mall and the surrounding town center. Less than a five-minute walk from the Riverfront Express Gondola, Nottingham Park, the Avon Recreation Center and Avon Public Library, and restaurants, shops and local businesses throughout downtown Avon, The Summit will place residents within easy reach of Beaver Creek Resort and the heart of the community. "The Summit is the result of a long and collaborative process with the Town of Avon, neighbors and community stakeholders," said Alan Simpson, director of development for Grand Peaks. "This is a rare opportunity to transform a long-underutilized gem of a location in the center of Avon into meaningful new housing, community-serving space and a strong pedestrian connection through the heart of downtown. "We are especially proud that the project will include homes dedicated to Eagle County's local workforce, ensuring that residents can live in the community where they work. We are grateful to the Town of Avon, whose partnership and thoughtful approach helped shape a development that responds to the community's housing needs and enhances downtown's vibrant character." The Summit is the latest project in Grand Peaks' broader strategy of developing and investing in multifamily communities located in markets with strong long-term housing demand, durable economic fundamentals and significant barriers to new supply. Founded in 2003 by brothers Luke and Nick Simpson, Grand Peaks is a third-generation real estate investment firm with a 75-year family legacy in multifamily housing. Headquartered in Denver, the firm specializes in the development, acquisition, repositioning and asset management of apartment communities. Grand Peaks currently operates in eight markets with approximately $3 billion in assets under management and $1 billion in equity invested. The firm partners with institutional investors and family offices to pursue multifamily opportunities through disciplined underwriting, proactive asset management, and strategic capital deployment.