Capital Square and May Riegler Properties Pave the Way for Thriving Communities with Successful Phase One Completion of Steamboat Basecamp Project
Capital Square, in partnership with May Riegler Properties, has successfully completed the first developmental phase of its Steamboat Basecamp project, a mixed-use multi-family development. The initial phase comprises 75 for-rent apartments and distinctively-designed retail space spanning over 8,343 sq ft. This key advance underscores Capital Square’s commitment to fostering thriving communities through thoughtful investment and planning.
Steamboat Basecamp, situated with easy access to Highway 40 while being less than two miles from downtown Steamboat Springs, marries convenience with the sought-after, picturesque setting that exemplify Steamboat Springs. Louis Rogers, the co-CEO of Capital Square, expressed joy at the rapid lease uptake of apartments, with 80% of the phase one apartment units already taken up, indicating the significant demand for high-quality residential properties in this locality.
Further evidence of the project’s commitment to facilitating community culture and resident camaraderie is the inclusion of numerous amenities proposed for resident enjoyment including co-working space, ski gear repair facilities, a rooftop lounge and an outdoor grilling area. Additionally, future developmental plans include making 27 townhouses available for purchase.
Steamboat Springs, affectionately dubbed “Ski Town USA” is a sought-after area for permanent residents and tourists alike owing to its wealth of year-round activity offerings and a lively history steeped in the stories of miners, ranchers, and the Native American Ute tribe. Its popularity is poised for greater heights with a promized expansion of the Steamboat Ski Resort, signaled to be the state’s second-largest ski resort.
Despite holding an enviable ‘live-work-play’ appeal, the town has struggled with a chronic shortage of quality housing, an imbalance that Capital Square seeks to address with the Steamboat Basecamp development.
To echo the words of the co-CEO at Capital Square, Whitson Huffman, “Capital Square seeks to identify underserved locales like Steamboat Springs, where we can improve a community while providing a compelling opportunity for the investors and financial advisors we serve.” As a national leader in real estate investments, Capital Square is not only dedicated to serving the Steamboat Springs community but is also focused on the broader picture—augmenting investors’ portfolios and contributing positively to the national multifamily housing landscape.
It is indeed heartening to witness how thoughtful real estate development can uplift communities, contribute meaningfully to regional economies, and provide valuable opportunities for stakeholders. Capital Square continues to set the bar high, demonstrating the true potential of real estate ventures in fostering vibrant multifamily communities. With the successful completion of phase one of Steamboat Basecamp, we dare to dream bigger.