This Week's Denver Deal Sheet: $1.1B Project Approved For Greeley's West Side

Greeley has approved a $1.1B entertainment district that city leaders say will reshape the city’s west side and fuel a regional renaissance.

The 300-acre Cascadia development led by Windsor-based developer The Water Valley Co. will include an 8,600-seat arena for the Avalanche-affiliated Colorado Eagles hockey team, a year-round indoor waterpark and resort, a conference hotel, transit hub, retail and restaurants, and about 11K housing units.

City Council approved the predevelopment agreement this month, kicking off detailed planning and land acquisition. Construction is expected to start in 2026, with key components slated for completion by mid-2028.

Located off Highway 34, the project is being positioned as a new economic engine for one of the country’s fastest-growing metros.

Greeley’s population jumped 30% from 2010 to 2020, with projections of more than 100K new residents in the next 35 years.

The city is also investing in airport expansion and transportation infrastructure to support growth.

SALES

Walker & Dunlop arranged the $35.5M sale of Basecamp, a 72-unit apartment building at 1620 Eighth St. in Golden. Confluence Cos. developed the building, wrapping it up in 2020 for a reported development cost of $27M. It’s the second Golden deal in as many months for W&D’s Denver team, which also brokered the $47.5M sale of sister property West 8th in March.

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MMG brokered the $1.5M sale of a 9-unit multifamily property at 1362 N. Lafayette St. in Denver’s Cheesman Park neighborhood. The 4K SF building, built in 1940, includes one studio and eight one-bedroom units plus six off-street parking spaces and a converted garage offering extra income potential. The buyer plans a value-add renovation to modernize the units.

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11th Avenue Residential LLC acquired an 8K SF office property at 1660 17th St. in Denver’s Union Station neighborhood for $3.4M. Newmark’s Reed Mclaughlin, Thomas Lee and Jonathan Tilton represented the buyer. Kentwood Commercial represented the seller, Struby Warehouse First Floor LLC.

LEASES

Odyssey Transport & Warehouse LLC extended its lease on an 82K SF industrial property at 14200 E. Moncrieff Place in Aurora. Newmark’s Mike Wafer and Mike Wafer Jr. represented the landlord, LBA RV-Company XVII LP. JLL represented the tenant.

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Metron Farnier, a water technology company specializing in artificial intelligence solutions, leased 56K SF at 335 Centennial Parkway in Louisville, bringing the building to full occupancy. CBRE’s Tyler Carner, Jeremy Ballenger and Jeremy Kroner represented the landlord, Walton Street Capital. The renovated 1995 property includes dock-high loading, updated office finishes and 28-foot clear height.

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CBRE has arranged the first lease at Candelas Innovation Park in Arvada, signing a 61K SF deal at Building 1 with an undisclosed aerospace innovation company. OCC Industrial owns the newly delivered four-building park at Highway 72 and Highway 93. Buildings 1 and 2 were completed this year, with Phase Two expected to be completed in the next 12 months.

CONSTRUCTION AND DEVELOPMENT

AvalonBay has broken ground on Avalon Parker, a 312-unit garden-style apartment community at 13707 Etna Drive in Parker. The project will include a public park, clubhouse, pool, coworking lounge and EV charging across a 428K SF site. The first units are slated to deliver in summer 2026. AvalonBay is also preparing more than 7 acres of adjacent land for future commercial development.

THIS AND THAT

Macerich brought on The Zall Co. to assist with leasing at FlatIron Crossing shopping center in Broomfield and its adjacent mixed-use project, HiFi at FlatIron Crossing. The 25-acre outdoor expansion is under construction and will include retail, dining, green space and residential. The project has already signed Pindustry, a 34K SF food-and-games entertainment concept, and will include Novel Flatiron, a 347-unit apartment community. Phased openings are expected in 2027.

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Denver has released its 2025 Street Homelessness Progress Dashboard, tracking shelter placements, housing moves and other metrics tied to Mayor Mike Johnston’s "All In Mile High" goals. According to the city, more than 6,000 people have moved into shelters and 5,000 into housing through city-funded programs since July 2023. The dashboard will be updated monthly and expand later this spring to include data from the city’s Roads to Recovery initiative.

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Five new retailers will open at Westminster’s Orchard Town Center this year, including Postino WineCafe, P.F. Chang’s, Pandora, Swing 365 Golf and Activate. The additions follow six new openings in 2024 and bring the center to over 94% leased. Managed by Vestar and owned by TriGate Capital, the shopping center plans to add 27K SF of new retail, dining and entertainment space by year-end.