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:
- An 8,600-seat arena for the Colorado Eagles minor-league hockey team, along with a secondary 1,500-seat rink for youth hockey.
- A 12-slide indoor water park, touted as one of the best in the nation.
- A hotel and convention center, complemented by a plaza featuring restaurants, retail spaces, and areas for community events.
- Over 11,000 residential housing units, offering a mix of living options.
- Outdoor recreational amenities include horse trails and kayaking facilities.
- A transportation hub designed to improve connectivity, featuring plans for a bridge over U.S. 34 to facilitate north-south traffic flow without burdening existing intersections.
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.
