The teen was killed in a plane crash in November.
"Teddy's Way" will be dedicated in a public ceremony Saturday, and Ebersol and Saint James are expected to attend, resort spokeswoman Mary Helyn Kirwan said.
The couple own a home in Telluride and are active in the community.
Teddy Ebersol died Nov. 28 when a chartered plane crashed during takeoff in light snow and freezing temperatures from the airport in nearby Montrose. Pilot Luis Alberto Polanco and flight attendant Warren Richardson III were also killed.
Dick Ebersol, another son and a co-pilot were injured.