Wildair breaks ground at base of Steamboat Ski Resort

Orion Real Estate Investment & Development and Blue Sage Ventures have started construction on Wildair, a 20-residence luxury condominium project in Steamboat Springs, Colorado, with more than $100 million in financing. The project targets high-end buyers and EB-5 investors, and completion is expected in early 2029.

Why it matters: - Wildair adds new luxury housing at the base of Steamboat Ski Resort, where new residential product has been scarce. - The project pairs resort living with EB-5 financing, giving international investors a path into a high-profile U.S. mountain market. - The development is positioned to capture demand for ski-influenced, year-round second-home living in one of Colorado’s best-known resort towns.

What happened: - Orion Real Estate Investment & Development and Blue Sage Ventures said construction has begun on Wildair, a 20-residence condominium project at 1830 Ski Time Square Drive in Steamboat Springs, Colorado. - The site sits directly across from the base of Steamboat Ski Resort. - Haselden Construction broke ground on Sept. 23, 2026. - Substantial completion is expected in early 2029. - Financing for the project combines EB-5 capital structured and placed by Paragon Capital Group with C-PACE proceeds from Nuveen Green Capital. - Total financing is more than $100 million.

The details: - Wildair includes 20 two-, three- and four-bedroom residences and penthouses. - Unit sizes range from about 1,400 to 4,000 square feet. - Denver-based 4240 Architecture designed the project. - The homes feature high ceilings, stone fireplaces, wide-plank oak flooring and expansive kitchens with oak cabinetry and top-tier appliances. - Floor-to-ceiling glazing opens to deep terraces with views of the Yampa Valley and Mount Werner. - Residents will have access to an on-site Owners Club with a grand-fireplace lounge, outdoor terrace with fire pits, fitness center, pool, spa, private ski lockers and dedicated parking. - The ski lifts are a five-minute walk from the front door. - The project also includes 2,180 square feet of ground-floor commercial space. - Steamboat Springs is known as Ski Town USA and is home to Howelsen Hill, the oldest continuously operating ski area in North America. - The town is also known for Champagne Powder snow, working ranches, mineral springs and Lincoln Avenue, a historic main street with restaurants, galleries and boutiques. - The site is about a seven-minute drive from Lincoln Avenue.

Between the lines: - The project leans into Western design cues and the area’s ranching heritage to fit the Steamboat brand rather than fight it. - Orion’s portfolio includes The Mason in Park City, Utah, and the Virginian Hotel in Jackson, Wyoming, which signals an established focus on resort markets. - Blue Sage Ventures is focused on urban and resort projects in high-barrier-to-entry markets, a model that matches the scarcity of base-area land in Steamboat. - Paragon Capital Group highlighted its EB-5 track record, including more than 500 investors helped and more than $1 billion in U.S. commercial real estate projects funded. - Paragon also said it has a 100% approval rate on all USCIS I-829 petitions adjudicated to date in prior offerings. - The EB-5 program provides qualifying international investors and their immediate families a pathway to U.S. permanent residency through investment in a USCIS-approved Regional Center project. - Wildair qualifies as a Rural Area Targeted Employment Area, which makes associated I-526E petitions eligible for priority processing under Congress’ rural EB-5 rules.

What's next: - Construction will continue toward early 2029 completion. - Sales and investor interest will likely center on the project’s location, limited inventory and EB-5 eligibility. - The development’s commercial space and amenity package should help support a year-round owner profile, not just winter use.

The bottom line: - Wildair is aiming to become Steamboat Springs’ rare new luxury base-area offering, with resort access, high-end amenities and immigrant-investor financing all bundled into one project.