In 1954, Roy and George Lebus of Wichia Falls, Texas, purchased the 9,000 acre Monte Verde Ranch. In 1956, they purchased another 14,000 acres, which comprised the Cieneguilla Ranch, from the Maxwell Land Grant. Ten years after the initial purchase, they decided to develop the property into a resort community. They called the development Angel Fire.
In 1966, construction began in earnest, and after about 18 months, the early ski trails were cut, a nine hole golf course was complete, and Monte Verde Lake was ready for visitors. Word of the resort spread quickly and soon visitors from New Mexico, Oklahoma, Texas and Kansas, began to come to Angel Fire.
As the resort continued to grow, the demand for new capital for expansion was required and the Lebus family took on additional investors on 1969, beginning to back out of active ownership.
In no time at all, new accommodations were needed to house these many visitors, and the first condominiums were completed in 1971.
In 1972, the resort was sold to the Baca Grande Angel Fire Corporation. However, the Lebus famile retained more than 1,000 acres of their original land holdings. The Baca Grande Corporation began to install utilities to lot sites, built new roads, and cleared the ski trails of numerous rocks and trees. By 1973, Angel Fire was visited by more than 20,000 skiers. In the same year, the Angel Fire Country Club and Starfire Lodge were added.
Over the next several decades, the resort was sold numerous times. Each sale brought a brighter future to Angel Fire, with improvements and addtions to the resort.
In 1968, Angel Fire Village was incorporated with the state as the 99th municipality. There is a year-round population of about 1,200 residents, and any weekend during the summer or winter months, crowds can swell to as many as 10,000 people.