Civitas Capital Group, a Dallas-based alternative investment manager focused on U.S. real estate, announced it has closed on a new development project to expand its presence in the seniors housing space. Terraces at Tree Farm will be developed lake-side in Basalat, Colorado, within the economic hub of Roaring Fork Valley. It will be a Class-A, 72-unit active adult community surrounded by shops, restaurants, trails, offices, condos, apartments and a hotel.
The development of this community qualifies as a rural project, or a Targeted Employment Area project (TEA), which allows for EB-5 investors to obtain access to set-aside visas and priority processing under the EB-5 Reform and Integrity Act of 2022. Rootvik Patel and Justin Temple of Citivas are co-leads on the project.
