NEW $15M HANGAR DEVELOPMENT BREAKS GROUND NEAR STEAMBOAT
Project Will Meet Growing Demand & Serve Private Jet Growth
Denver, CO – September 25, 2024 – Business Aviation Group, LLC (BA Group) and Wiens Real Estate Ventures (WREV), announce today that they have broken ground on a $15 million hangar development at the Yampa Valley Regional Airport (HDN) to serve the business aviation marketplace demand that has surged in recent years.
The 57,680 SF hangar campus will be located at the Yampa Valley Regional Airport (HDN), 24 miles west of Steamboat Springs, CO, known for world-class skiing and outdoor recreational activities. HDN is the hub for access to the northern Colorado mountains with a full spectrum of business aviation and commercial activity. The development has been in the planning, design and permitting phase for one and a half years and is scheduled to be completed in the fall of 2025 with leasing and/or reservations (Preferred Placement Program) 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 HDN since 2006, making the development highly anticipated.
“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,” says Iver Retrum, CEO and partner, Business Aviation Group, LLC. “We especially appreciate all the support from the Yampa Valley Regional Airport (HDN) administration and our development partner, Wiens Real Estate Ventures, that helped bring these hangars to fruition.”
The development includes two 28,800+ square foot base/transient hangars with 28-foot and 20-foot doors. The hangar development will serve the northern Colorado region, the Yampa Valley and specifically HDN, 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.
“Wiens Real Estate Ventures was very happy to be part of this new hangar development with Iver, Barry and the team at BA Group,” says Tim Wiens, owner of Wiens Real Estate Ventures. “I have been an active private pilot for many years and personally fly in and out of HDN, so I am very familiar with the area and the need for additional private hanger space to accommodate the continued growth and demand.”
Business Aviation Group, LLC 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. All three entities are working closely with the Yampa Valley Regional Airport (HDN) to ensure a smooth construction process and delivery.
“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.”
About Business Aviation Group, LLC
Business Aviation Group (BA Group) is a collection of companies dedicated to aviation real estate and airport-related development. Through its subsidiaries and affiliates, the company has the experience, depth, and capability to provide nationwide aviation-related real estate, marketing, and consulting services to airports, corporate and private flight departments, FBOs, developers, private equity firms, and enthusiasts. For more information, visit https://bagroup.aero/.
About Wiens Real Estate Ventures
Wiens Real Estate Ventures is a real estate development and investment company based in Broomfield, CO. The company has developed a significant amount of 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.
Contact: Iver Retrum
Business Aviation Group, LLC
720.574.2018 [email protected]