The principals of Blue Sage Ventures founded the company after decades of experience in commercial real estate development.  Currently, BSV is executing on a balanced strategy that features two primary lines of business:


BSV is focused on investing in niche development opportunities that reside in either discounted markets or those that frequently possess significant barriers to entry. We are ultimately seeking to transform urban properties to create lasting value for all stakeholders – including tenants, investors, and municipalities.


BSV provides development and construction management services to both users and owners of commercial real estate. We deliver projects on time and on budget. With strong fundamentals in place, we focus on innovation and in shaping the transformational decisions that improve a project’s marketability and bottom line.



As a boutique firm, we engage in a limited amount of projects. Our experience includes both large and small scale developments including urban office, mixed-use development, and high-density residential.


We believe the stewardship of investment capital and real estate assets should improve the landscape that we live in, exceed the expectations of our tenants and residents,  and provide exceptional returns to our investors and partners.

Urban Development

Our investment approach to niche development is highly opportunistic, capitalizing on favorable pricing, unique markets, or in serving the unfulfilled needs of tenants. As we develop, reposition or renovate, we look to transform properties through quality design, sustainability initiatives, targeted marketing, and enhanced sponsorship.

Development Management 

Quality projects begin with a thoughtful concept that underwrites all of the facets of the development process, the demand drivers, and the capital markets. BSV brings a clear understanding of deal structuring, debt financing, entitlement risk, site planning nuances, cost containment, and leasing optimization to enhance a project’s success.

Construction Management 

Our construction management approach is disciplined, resourceful and productive. There is a concerted focus on risk mitigation, cost control, value engineering, schedule adherence, and construction document implementation. This includes pre-construction activities such as architect and engineer selection, systems evaluation, negotiating or bidding with general contractors, and handling the contracts and coordination agreements. During construction, BSV process all draw requisitions for funding.


The principals of Blue Sage Ventures founded company after decades of development experience gained while employed at one of the nation’s premier commercial real estate firms. BSV is led by Stephen Shelesky and David Wilson, who spent the majority of their careers operating in the highly competitive Washington, DC real estate market, where they collectively developed in excess of nine million square feet of largely speculative office, retail, residential, and mixed-use projects.

This level of experience contributes to a creative and insightful approach that guides each project from inception to completion.

Additionally, the application of our experience and skills enable us to identify and underwrite quality acquisition and development opportunities, and successfully manage the execution of these projects on behalf of our clients, investors and partners

Stephen G. Shelesky

Managing Principal

Stephen G. Shelesky

As the Managing Principal of BSV, Steve draws on his 25 years of experience in the commercial real estate industry to provide strategic direction and oversight of the firm’s activities. Prior to forming BSV, Steve served as Managing Director for Trammell Crow Company’s mid-Atlantic region. During his 16 year tenure at Trammell Crow Company, he led a team that proved to be one of the most active development organizations in the greater Washington, DC area, having developed numerous speculative office, residential, mixed-use and industrial projects encompassing nearly four million square feet. In addition, Steve has completed multiple corporate build-to-suit developments.

Steve is a member of the Urban Land Institute and served on the Board of Directors for NAIOP. He holds a B.S. in Biochemistry from Virginia Tech and an MBA in Finance from San Diego State University.

David A. Wilson


David A. Wilson

As a Principal of BSV, Dave brings 33 years of experience in the design, development and construction industries to provide exceptional project management of the firm’s real estate construction projects. Prior to joining BSV, Dave served as a Senior Vice President for Trammell Crow Company. Over his career, Dave has demonstrated and outstanding ability to manage the design and construction of complex projects, completing them on time and within budget. Having overseen the design and construction of projects that total nearly five million square feet, he brings a depth of experience on numerous building types, including commercial office buildings, commercial office interiors, retail centers and various institutional buildings. He is knowledgeable in building codes, construction standards, and construction documents including architectural, mechanical, and electrical specifications with proven results in implementing best practices.

Dave is a registered architect, a LEED Accredited Professional, and is a member of the Washington Building Congress and the U.S. Green Building Council. He holds a Bachelor of Architecture from the University of Arizona.

Christopher J. Imbler

Development Analyst

Christopher J. Imbler

Chris Imbler serves as a Development Analyst for the Steamboat Springs Unit of Blue Sage Ventures. He is responsible for supporting the leadership team in new business development, project management, and financial oversight for the group’s portfolio of projects. Chris is also engaged in financial modeling, capital structuring, and lease underwriting.

Prior to joining Blue Sage Ventures, Chris worked as a controller for an Oil & Gas Services start-up. He graduated from the University of Colorado with a major in finance and minor in economics. Chris plays the piano, is an avid reader, and actively volunteers with Junior Achievement USA.


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910 Yampa Street
Suite 101
Steamboat Springs, CO