Kroenke Sports & Entertainment (KSE) and Revesco Properties have announced the sale of Revesco’s interest in The River Mile development, including Elitch Gardens Theme & Water Park, and other related assets, to KSE. No financial details were disclosed.
The parties have been partners since their joint purchase of Elitch Gardens in 2015. The transaction, completed June 11, also includes the sale of 1338 1st Street, currently home to Meow Wolf and other properties.
“Realizing sole ownership of these properties will allow us to streamline our comprehensive vision for the future development encompassing The River Mile and the adjacent Ball Arena campus,” said KSE Owner and Chairman E. Stanley Kroenke. “We are grateful to Revesco for many years of productive collaboration.”
“We are incredibly proud of our work with KSE as the stewards of Elitch Gardens over the past decade, and to have been a catalyst for a re-imagining of the site known as The River Mile,” said Rhys Duggan, founding member, president & CEO of Revesco Properties. “We believe the blueprint has been set for the future of Central Denver and that both the park and The River Mile vision are in good hands with Mr. Kroenke and his family.”
Elitch Gardens, the historic 58-acre theme and water park situated along the South Platte River, and Meow Wolf, the immersive art experience in a landmark building at the juncture of I-25 and I-70, will continue to operate at their current sites.
“A day at Elitch’s is a rite of summer for more than a million visitors annually,” said Mike Neary, KSE executive vice president. “We intend to keep it that way and better than ever.”
