In 1871, the settlement was named Spanish Peak and a post office was established. New settlers came to the area with the arrival of the Denver & Rio Grande Railroad. The narrow gauge railroad, which crossed La Veta Pass, was the highest U.S. railroad pass at the time. A depot, the La Veta Pass Narrow Gauge Railroad Depot, was built one block north of the fort and the town was platted by the railroad in 1876. The fort is now operated by the Huerfano Historical Society. A post office called La Veta has been in operation since 1876. The community was named for a mineral deposit near the original town site, "La Veta" meaning "mineral vein" in Spanish.