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On Tuesday, April 15, the Greeley City Council voted 5-2 to move forward with a pre-development agreement for the $1.1 billion Cascadia project in Greeley.

The Water Valley Company has proposed a 300-acre, transit-oriented entertainment district that promises to set Greeley apart in Northern Colorado, complementing its historic downtown with a modern new entertainment district in West Greeley. At the heart of it all: a state-of-the-art arena and ice center, the potential future home of the Colorado Eagles.

“This vote represents a once-in-a-generation opportunity to shape Greeley’s future,” said Mayor John Gates. “We’re investing in our quality of life, our economy, and the kind of community we want to be. Greeley has always been built on vision and hard work, and now, we’re taking that legacy even further. This vote sends a clear message that Greeley is ready to lead, grow, and invest in a future that reflects the energy and ambition of our community.”

The project is envisioned as a vibrant mixed-use community with a top-tier water park and hotel, local shops and dining options, recreation, and much-needed housing—all connected by a modern transit hub.

Key features of the Cascadia project include:​

Here’s how the project aims to create real, long-term good in Greeley:

1 ECONOMIC GROWTH & OPPORTUNITY: This project will stimulate new investment and development, create new jobs and opportunities for small businesses, and generate tax revenue that will benefit the entire region.

2 IMPROVED CONNECTIVITY: Through infrastructure improvements, this project would enhance public transport options and connectivity throughout the city and into Greeley.

3 ENHANCED QUALITY OF LIFE: The proposed amenities and mix of uses will support the rapidly growing community with vibrant places to live, work, and play.

“This is a legacy project for Water Valley and a moment we’ve been working toward for years,” said Martin Lind, CEO of The Water Valley Company. “We’ve always believed in the power of placemaking to bring people together and energize communities, and this is exactly the kind of transformative opportunity we’ve been looking for. The location, the support from the City of Greeley, and the overall development plan make this a smart, sustainable move for our organization.”

Already the fourth fastest-growing metro area in the country, Greeley’s metro population grew by 30% from 2010 to 2020, and over the next 35 years, Greeley expects to welcome more than 100,000 new residents, bringing with them new customers, talent, and partnerships that will fuel the local economy. To support this growth and enhance regional connectivity, Greeley is investing in the expansion of the Greeley-Weld County Airport. These enhancements will position the airport as Colorado’s third major airport, complementing Denver International Airport and Colorado Springs Airport.

The approval of the Pre-Development Services Agreement marks the beginning of the project’s pre-development phase. During this stage, the City and The Water Valley Company will move into detailed design planning, land acquisition and due diligence and the continued evaluation of market and financial feasibility. This phase is critical to ensuring the project’s long-term viability and alignment with community goals. Each element of the district, from infrastructure and land use to financing and design, will be carefully studied and refined before moving forward with construction.

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Exciting changes and developments are coming to Northern Colorado. Last October, the Greeley Westside Project was announced to the public.

In case you missed it, the new development includes a new arena, hotel, waterpark, shops, and more. The new arena will be the new home for the Colorado Eagles, and it will be able to seat 8,600 fans.

A full transit center was also proposed. The plan is both very ambitious and even more exciting. Northern Colorado's Water Valley Company is working with the city of Greeley on the huge development.

We have an update for you regarding this awesome entertainment district.

On April 15, the Greeley City Council approved the entertainment district with a 5-2 vote. It looks like this plan is going to be a reality.

????KEEP SCROLLING FOR OFFICIAL LOOK AT NEW ARENA AND ENTERTAINMENT HUB ????

The new entertainment hub will be on 300 acres by Highway 34 and Highway 257.

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You might be wondering what the next steps are and when the entertainment hub in Greeley is going to be complete.

According to Denver 7, the new home for the Colorado Eagles and other entertainment will start the zoning process by next year. This is a large project that will be executed in phases. The first phase will be finished by 2028.

The Colorado Eagles will move away from their current home at Blue Arena in Loveland.

If you are curious what the new $1.1 billion entertainment hub will look like, keep scrolling to look at the official renderings.

Greeley City Council voted 5-2 in favor of financially supporting a $1 billion entertainment district on the west side of the city that will include a hockey arena that is expected to become the new home of the Colorado Eagles, youth hockey rinks, a water park and hotel.

The vote came late Tuesday night after more than four hours of public comment, council deliberation and council questions asked of project developer Martin Lind, founder of the Windsor-based Water Valley Company and owner of the Eagles, a minor league affiliate of the Colorado Avalanche.

Voting in favor of the resolution to fund the predevelopment of the project were Greeley Mayor John Gates and councilmembers Melissa McDonald, Brett Payton, Dale Hall and Johnny Olson. Opposing the resolution were Tommy Butler and Deb DeBoutez.

The entertainment district is proposed to be built on 300 acres northwest of Promontory Park and bounded on the south by U.S. Highway 34 and to the north by Colorado Highway 257, between Weld County Road 17 and Colorado 257.

The proposed project will total around 1,800 acres and include 1,000 acres for 6,000 residential units and 3.5 million square feet of retail and commercial development.

According to the city of Greeley, design and construction of the project, called Cascadia Falls, will take place in 2025 and 2026 with substantial completion of Phase 1 in 2028.

The move means the Colorado Eagles, who have played at Larimer County's The Ranch Events Complex since their inception in 2003, are expected to leave the venue after its current lease runs out in 2028 and sign a lease at the new arena, which is expected to seat 8,600 fans and 10,000 for concerts.

Those in support of the plan called the project a bold, "generational" and "game-changing" development that will generate much-needed tax revenue for the city, used to not only pay for the project but pay for other city needs.

Also prominent among the reasons to build the project was the need for sheets of ice for the growing sport of youth hockey. The proposal calls for three new sheets of ice. Lind said as part of the agreement, his company will shut down its sheet of ice at Northern Colorado Youth Hockey's NoCo Ice Center, 7900 N. Fairgrounds Ave., between Fort Collins and Windsor and move operations to the Greeley site.

Those against the plan wanted council to bring the measure to a vote of the people. They also mentioned the financial risk, that funding for the project will push other needs down the road, entertainment not being affordable for most Greeley residents, the draw of business away from downtown and water and traffic issues.

The city will finance the public-private project through bonding, general improvement district financing and operating revenues generated after opening.

Gates said in supporting the project that it took a creative funding structure to make the project financially feasible without a tax increase made possible by the city vetting process, which included the city spending $3.1 million in consultant fees.

"There was a theme amongst those opposed to the process that the project will not be successful and city will come back to the taxpayers years down the road to pay the indebtedness," Gates said. "I simply don't see that happening. Is there a risk with the project? Of course there is. I firmly believe the project will be very successful and will be a complete deal changer for Greeley."

Councilmember Butler disagreed with the mayor's assessment of the project. He pointed out what he called a "graveyard" of similar projects that have failed to live up to expectations, including Windsor's financially beleaguered Future Legends sports complex, Broomfield's 1stBank Center and Commerce City's Dick’s Sporting Goods Park.

"I was brought up that if you can't afford something, you shouldn't buy it," Butler said. "At the end of the day, this project is not fiscally responsible and a fiscally responsible city council would vote this down."

Lind had offered various versions of the Cascadia Falls project to be built in Larimer County, including a new arena, hotel and waterpark near The Ranch, but those efforts never came to fruition. He blamed the county for not investing enough staff time to determine the request for proposals to attract a hotel to the project.

The City of Greeley is looking to develop what some are calling a "regional hub" for Northern Colorado, and the project could come one step closer to reality on Tuesday night. Greeley's City Council will vote Tuesday night on whether or not to approve a predevelopment agreement that would move forward a proposal to build an arena in western Greeley.

The proposal is largely driven by The Water Valley Company, which owns the minor league hockey team, the Colorado Eagles. The team currently plays in the Blue Arena in Loveland.

Greeley City Manager Raymond Lee told CBS News Colorado that bringing an entertainment district to Greeley is important for many voters.

"I think the citizens of Greeley have spoken and been very loud and clear that they want more amenities, more attractions," Lee said.

Northern Colorado's population is projected to double in the next two decades and Greeley is just one of several communities looking to absorb as much of the tax dollars they can through entertainment and development

"We don't want to see those sales tax dollars leave our community and go to our surrounding communities. We want to make sure we are offering amenities and attractions to people in our community," Lee said.

The Water Valley Company is hoping to build an arena and more just north of U.S. 34, near Windsor. The project would be located west of Highway 257. Lee said the initial 1,800-acre development, if approved by the council, would likely feature an arena, conference center, hotel, water park, and more.

The surrounding undeveloped property, estimated to be around 8,000 additional acres, could eventually follow suit with development. City officials hope to build housing, restaurants, parks, and more for future residents of many economic backgrounds.

"To a large retrospect, western Greeley is the future of Greeley," Lee said. "We have grown west as this community has grown in size and scope."

Lee said the city knows the growth of the region is already starting, and by potentially taking on a project like this, the citizens of today can have a direct say in the Greeley of tomorrow.

"It is a much bigger picture we are looking at overall. This is a small component of that," Lee said. "We don't ever want to forget our past and what has made this community what it is today. But the future is bright for Greeley, and this is one step in that direction if council does vote to pass this."

Dillon Thomas

Dillon Thomas is multi-Emmy Award winning general assignment reporter/MSJ for CBS News Colorado. Read his latest reports or check out his bio and send him an email.

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