SHERIDAN, WYOMING - December 4, 2025 - Velvære, a 60-acre wellness-focused, ski-in/ski-out residential community in Deer Valley's new East Village, has secured a restructured $555 million construction revolver to complete its luxury estates, vertical residences and private amenities, underscoring continued investor appetite for high-end U.S. residential destination projects.
$555 million revolver anchors a $1 billion alpine masterplan
The new capital structure combines $197 million in fresh financing from Anchor Loans with existing commitments into a multi-product construction revolver. Arranged and advised by LFB Ventures, with equity backing from Toba Capital, the facility is designed to fund land development, amenity construction and vertical build-out across the project's diverse product mix.
Velvære, developed by Pioche Partners, LLC-a joint venture between Bonfire Collective and VP Companies, Inc.-represents a $1 billion wellness-driven alpine community within Deer Valley Resort's East Village expansion. The scheme combines slopeside estate homesites, private residences and cabins with integrated wellness and adventure infrastructure, targeting buyers seeking both asset appreciation and lifestyle utility.
Single-source capital structure reduces execution risk
From a capital markets perspective, the Velvære team prioritized consolidating debt and aligning financing with the project's long build-out horizon and product diversity. "Securing capital that mirrored the nature of our client's vision was paramount to the capital markets effort," said Blake Bitterlin, Founder & President of LFB Ventures. The strategy focused on engaging a single-source capital provider capable of refinancing legacy obligations into a revolving facility that can flex across land, amenities and multiple residential typologies.
For a large, amenitized residential development in a competitive U.S. mountain market, this structure offers several advantages:
- Reduced refinancing risk and covenant complexity across development phases
- Flexibility to sequence infrastructure, amenities and vertical construction with market demand
- Better alignment between draw schedules, sales velocity and capital deployment
Wellness and performance as core value drivers
Velvære's positioning goes beyond conventional ski-in/ski-out real estate. The private, gated enclave will feature an onsite Deer Valley chairlift, "The Well" performance and recovery center, and "The Base," a family-focused adventure hub with year-round recreation. Partnerships with Fountain Life, Technogym and Aescape bring medical-grade wellness, high-performance training and automated recovery modalities typically associated with professional athletes.
"This financing will unlock the next chapter of Velvære," said Dayson Johnson, Chief Revenue Officer of Bonfire Collective and Partner at Pioche Partners. "We're not just building homes - we're building a community where residents can live, explore, train, and recover with the same resources and energy professional athletes rely on, all while experiencing the connection and joy of mountain living."
In the broader residential buildings market, such integrated wellness propositions are increasingly central to pricing power and differentiation, particularly in North American resort destinations where high-net-worth buyers are seeking long-stay, multi-season usage rather than purely vacation ownership.
East Village momentum supports pricing and absorption
The financing closes against a backdrop of record momentum in Deer Valley's East Village, including strong sales at the new base area and multiple estate lot transactions at Velvære in Q4 2025 in the $4 million to $5 million range. The community's estate residences-priced from $4 million to $12 million-are already partially delivered, with the first homes completed in 2024 and additional lots and residences under construction.
This early sales performance validates the project's ultra-prime positioning and supports the underwritten case for continued price resilience, even as broader U.S. housing markets adjust to shifting rates and macro conditions. For investors, the combination of constrained slopeside land, brand partnerships and a wellness-led amenity stack underpins the long-term value thesis.
Strategic implications for luxury wellness real estate
For Pioche Partners, the capital package allows continued build-out at scale while maintaining control over design and operational standards. For lenders and equity partners, Velvære illustrates how wellness, performance and adventure programming are becoming core underwriting pillars in top-tier residential destination projects.
Bonfire Collective brings ultra-estate construction heritage and master-planned wellness community expertise across Utah and Idaho, while VP Companies contributes a multi-decade track record in high-end amenitized developments such as Colorado Golf Club, Clear Creek Tahoe and Zenergy Health Club and Spa. Together, they are positioning Velvære as a template for next-generation mountain communities where capital strategy, wellness infrastructure and location converge.
For more information on Velvære's community, amenities and residential offerings, visit http://www.velvaereparkcity.com.