On April 15, 2025, Greeley City Council voted 5-2 to approve pre-development funding for what’s shaping up to be the largest entertainment development in city history: the Cascadia Project. Touted by supporters as a “generational opportunity” and criticized by others as a “reckless risk,” the $1 billion public-private development is now officially moving forward.
This blog breaks down the details, timeline, projected benefits, and criticisms surrounding this transformative project for West Greeley.
📍 Project Overview
The Cascadia Project, spans 1,800 acres in northwest Greeley—north of U.S. Highway 34 and south of Colorado Highway 257. It includes:
- An 8,600-seat arena (expandable to 10,000 for concerts), expected to become the new home of the Colorado Eagles in 2028.
- A 350 room hotel and 100,000 square foot water park.
- Three sheets of ice for youth and community hockey.
- A general improvement district (GID) to fund supporting infrastructure.
- 6,000 residential units beginning construction in 2029.
- 3.5 million square feet of commercial and retail space.
The development is being led by Martin Lind and his Water Valley Company, with support from the city through a variety of financial tools.
🏗️ Timeline & Phasing
| Phase | Description | Estimated Dates |
|---|---|---|
| Pre-Development | Planning, financing, bond issuance, and infrastructure design | 2025 |
| Construction Begins | Core infrastructure and vertical construction | 2026 |
| Phase 1 Completion | Arena, hotel, and water park open to public | 2028 |
The city anticipates that full buildout will continue well beyond 2030, especially the residential and retail components.
💰 Financing: A Complex Public-Private Structure
The city’s financial commitment includes:
- Certificates of Participation (COPs) to fund pre-development.
- A 501(c)(3) conduit bond structure, allowing for tax-exempt bonds with a “moral obligation” backstop from the city.
- A General Improvement District (GID) to capture future property tax revenue.
- Long-term repayment funded by operating revenues from the arena, hotel, and commercial uses.
Importantly, the city is not issuing general obligation bonds, but it is incurring long-term obligations.
Key Figure: The city anticipates making $48 million in payments between 2029 and 2032 before being paid off in 2038.
✅ Potential Benefits
Supporters highlight the following advantages:
- Job Creation: Construction and operations are expected to create thousands of temporary and permanent jobs.
- Tax Revenue: Cascadia could significantly increase sales, lodging, and property tax revenue—supporting city services long-term.
- Youth Sports Access: New ice rinks could relieve current capacity issues in Northern Colorado’s growing youth hockey scene.
- Tourism Draw: The arena and water park aim to attract regional visitors, potentially revitalizing the city’s image.
Councilmember Butler called it a “game-changing opportunity” if executed correctly, though he expressed concern about execution and risk.
❌ Public Criticism & Risks
Opposition voices have been loud and clear, especially during the four-hour public comment session leading up to the council vote.
Top concerns:
- Lack of Public Vote: Many citizens called for a ballot measure to decide on the funding, arguing the scale warrants direct democratic input.
- Financial Risk: Critics argue the city is assuming too much debt and deferring essential services to fund an entertainment venue.
- Equity Issues: There’s concern that Cascadia’s high-end amenities may be inaccessible to many Greeley residents, creating a divide.
- Downtown Displacement: Business owners worry the project could pull commerce and attention away from Greeley’s historic downtown.
- Water Supply & Traffic: Several speakers raised environmental and logistical concerns, including increased water demand and traffic congestion.
Councilmembers Olson and DeBoutez both voted against the project, citing long-term fiscal uncertainty and concerns over due diligence.
🧭 What Happens Next?
- The city will finalize design plans and continue negotiations with partners like the Colorado Eagles and Northern Colorado Youth Hockey.
- Infrastructure phasing will be carefully timed alongside growth in the GID.
- Public engagement is expected to continue, with additional hearings as the city evaluates traffic mitigation, utility planning, and GID expansion.
- A third-party certification of the financing models and value engineering will be conducted before any major construction begins.
🧠 Final Thoughts
Cascadia could very well be the crown jewel of Northern Colorado—or a cautionary tale of overreach. Whether you’re optimistic, skeptical, or somewhere in between, one thing is certain: Greeley’s future just changed course in a major way.
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