FAQ

The project is roughly bounded to the south by Highway 34 and to the north by highway 257, between County Road 17 and Highway 257.

Water Valley and the City of Greeley are looking at a transformative mixed-use, transit-oriented, entertainment district with a new arena and ice center, a transit center, new opportunities for retail, lodging (including a water park hotel), and much-needed mixed-income housing.  

If approved, this would be a collaborative development between the City of Greeley and Water Valley.

The arena would become home to the Colorado Eagles, a professional ice hockey team. The Eagles compete in the American Hockey League (AHL), the top minor league of the National Hockey League (NHL). This team serves as the feeder team of the Colorado Avalanche. Known for their passionate fanbase and exciting style of play, the Eagles have consistently been a strong contender in the AHL, bringing multiple championships and playoff appearances to the state of Colorado. 

The estimated project costs are $1.1 billion. The project would be funded through a variety of sources including operating revenues generated after opening, bonding, and General Improvement District financing.

  • If preliminary work shows the project is viable, the Parties intend to negotiate a definitive Public-Private Partnership Agreement. 
  • TWVC and the City have a one-year exclusive right to negotiate the Public-Private Partnership Agreement, which can be extended by mutual agreement. 
  • This would be a public-private working relationship between TWVC and the City. 
  • This project has the potential to become a compelling regional destination, creating stronger connectivity and generating new revenue streams that will benefit our entire region. 
  • Growth is inevitable, and this project allows the City of Greeley to have a real hand in shaping that growth to reflect our community’s character and ideals. 
  • One of the key goals for this project would be to align with Greeley’s established economic development goals, opening new opportunities for local businesses and positioning Greeley as a regional leader with a legacy-level development. 
  • At the City Council meeting on July 30 members of Council unanimously authorized the City Manager to sign a non-binding Memorandum of Understanding to pursue due diligence on a potential partnership with The Water Valley Company for a new development on the West side of Greeley.  
  • If preliminary work shows the project is viable and beneficial, the Parties intend to negotiate a definitive Public-Private Partnership Agreement. TWVC and the City have one-year exclusive right to negotiate the Public-Private Partnership Agreement, which can be extended by mutual agreement. 

Zoning generally describes what uses and building forms are allowed on a property. This site is currently zoned H-A (Holding-Agricultural). This zoning is assigned to parcels that have been annexed into the city but did not have immediate development plans at the time of annexation. It is effectively a pre-development placeholder zoning. The site must go through a rezoning process, which includes a public hearing at City Council, to assign zoning that will allow this site to be a vibrant mixed-use area with commercial, entertainment and other public amenity opportunities. 

Stay Informed

This project has the potential to be a game-changer for our community. We invite you to be part of shaping what’s to come.