Greeley Breaks Ground on 300-Acre West Entertainment District
The City of Greeley, The Water Valley Company and PCL Construction held a groundbreaking ceremony September 24 for the massive West Greeley entertainment district known as Catalyst, launching horizontal development on one of the city's most ambitious public-private partnerships.
The 300-acre project between County Road 17 and Highway 257 will feature a professional sports arena, year-round indoor water park and full-service conference hotel. The adjacent Cascadia development includes plans for new neighborhoods, parks, retail, dining and office spaces.
"Today is a historic day for Greeley," said Mayor John Gates. "We're laying the foundation for a project that will benefit this community for generations. From new jobs and small business opportunities to youth hockey and entertainment, this is smart growth that will lead to regional competitiveness and economic prosperity for all of Greeley."
The groundbreaking marks the start of infrastructure construction including new roads, utilities and water and sewer systems that will support current development and future growth in the rapidly expanding area.
Economic Impact and Job Creation
Both Catalyst and Cascadia are projected to create 2,480 temporary construction jobs during buildout and generate more than 1,200 permanent positions once operational. These permanent jobs will include positions at the arena, hotel, water park and visitor services.
New tax revenue from the businesses and attractions will expand Greeley's tax base, according to city projections. Officials say this additional revenue stream will help avoid tax increases during uncertain economic times while bringing more customers to local businesses across the city through increased visitor traffic.
The project financing relies on a combination of mechanisms that tie repayment to revenues generated within the development rather than imposing new taxes on residents, according to city documents. The structure includes Certificates of Participation, nonprofit bond financing through Provident Resources Group, and Public Improvement Fees charged within the district itself.
Sports Anchor and Phased Development
The development will unfold in phases, with the arena and ice center scheduled to begin construction in 2026 and open for the start of the Colorado Eagles season in 2028. Earlier this month, Greeley finalized an unprecedented 40-year lease agreement with the Colorado Eagles, the American Hockey League affiliate of the Colorado Avalanche.
The lease agreement, described as the longest of its kind in Colorado, secures the team as the arena's anchor tenant and demonstrates the city's long-term commitment to professional sports and economic development.
"This is the start of work that often goes unseen, but it's absolutely critical," said Raymond Lee, Greeley City Manager. "Infrastructure is what makes the rest possible. Roads, utilities and water systems must come first, and we've been preparing for decades to make sure Greeley can support this kind of growth responsibly."
Developer Background and Vision
The Water Valley Company, founded by Martin Lind in 1989, has developed approximately 4,500 acres of residential, commercial and mixed-use property across Northern Colorado over more than 30 years, according to company records. Major projects include the Water Valley Master-Planned Community in Windsor featuring 2,500-plus residential units and the Pelican Lakes golf complex.
Lind, who also owns the Colorado Eagles, represents a fourth-generation local family that has farmed in the Windsor area since 1900 before transitioning to property development in the mid-1980s.
"For years, northern Colorado families have had to leave their community to find world-class entertainment and recreation," said Lind. "Cascadia and Catalyst will change all that. We're building a district that will keep families here, attract visitors and create opportunities for local businesses."
Community Amenities and Growth Planning
Beyond professional sports and tourism, the districts are designed as complete, connected neighborhoods. The three-sheet ice center will serve youth hockey, figure skating and community recreation, providing local families year-round access to the facilities. Mixed-use housing, public plazas, restaurants and cultural amenities will create gathering spaces for community events.
The project addresses Greeley's rapid population growth as one of the fastest-growing metropolitan areas in the United States. The city expects to add more than 100,000 new residents by 2060, requiring infrastructure and amenities to support inevitable expansion while strengthening Greeley's role as a Northern Colorado leader.
The development gained approval through Greeley's standard regulatory process, including Planning and Zoning Commission review and multiple City Council public hearings before final approval in 2025. The site required rezoning to a Planned Unit Development to accommodate the mix of residential, commercial, entertainment and hospitality uses.
For project updates and more information, residents can visit speakupgreeley.com/catalyst.