$15 million hangar development breaks ground near Steamboat

Business Aviation Group and Wiens Real Estate Ventures announced Wednesday they have broken ground on a $15 million hangar development at the Yampa Valley Regional Airport to serve the business aviation marketplace demand that has surged in recent years.

The 57,680-square-foot hangar campus will be located at the Yampa Valley Regional Airport, 24 miles west of Steamboat Springs. The airport is the hub for access to the Northern Colorado mountains. The development has been in the planning, design and permitting phase for the past year and a half and is scheduled to be completed in the fall of 2025 with leasing and/or reservations for hangar space beginning in December/January.

Private jet operations have grown more than 75 percent in the last five years, and no new hangars have been added to Yampa Valley Regional Airport since 2006, adding anticipation to the development.

A much-needed and anticipated amenity

“We are thrilled to be underway with the Yampa Valley executive hangar project. It is a much-needed and anticipated amenity to the airport and community,” said Iver Retrum, CEO and partner, Business Aviation Group.

The hangar development will serve the Northern Colorado region, the Yampa Valley and specifically Yampa Valley Regional Airport, as well as Colorado’s new exclusive ski resort, Stagecoach Mountain Ranch, a $200 million, 6,600-acre private ski mountain and ranch development by Discovery Land Company.

Business Aviation Group is serving as lead developer for the project and won the initial RFP process to develop the hangars. Wiens Real Estate Ventures is co-developer and capital partner. Tally Ho Construction is the general contractor.

“We are very excited about the project, which is helping to meet a demand we couldn’t meet over the last 10 years,” says Kevin Booth, airport director, Yampa Valley Regional Airport. “The area continues to grow, and this development will give owners the flexibility they are looking for and bring business opportunities to the airport.”

Business Aviation Group is headquartered in Centennial with employees and affiliates in 16 states.

Wiens Real Estate Ventures is a real estate development and investment company based in Broomfield. The company has developed real estate throughout the Colorado Front Range over the last 20 years, ranging from large residential communities, commercial and retail properties to private aviation hangars.