West Greeley Project Studies & Analysis Overview

Why Were Studies Conducted?

The West Greeley Project has been evaluated through multiple independent studies conducted by nationally recognized firms. Each study examined a different aspect of the project, including housing demand, commercial development potential, operational feasibility, economic impact and financing considerations.

Together, these studies help City Council, the Oversight Committee and the public better understand opportunities, risks and potential outcomes associated with the project.

Understanding the West Greeley Studies

How the Studies Work Together: The City did not rely on a single report or consultant when evaluating the West Greeley Project. Instead, multiple independent studies were commissioned to answer different questions:

1. Is there long-term demand for growth in West Greeley?
2. Can additional retail, office and commercial development be supported?
3. Can the proposed arena, hotel and water park operate successfully?
4. What economic benefits could the project generate?
5. How could the project be financed and what risks would need to be managed?

Taken together, these studies provide a framework for evaluating market demand, financial feasibility, public benefits and project risks.

Residential Growth & Housing Demand Study

Zonda Advisory evaluated long-term housing demand in West Greeley and the broader Northern Colorado market.

Key Findings:

• West Greeley is located within one of Northern Colorado's growing residential corridors.
• Future demand is supported by regional population growth and employment trends.
• Housing demand exists independent of the proposed arena, hotel or water park.
• The study found the area could support additional residential development over time.

Why It Matters: Residential growth provides future customers, workforce opportunities and tax base that support broader economic development.

Commercial & Retail Demand Evaluation

Economic & Planning Systems (EPS) evaluated future demand for retail, office and commercial development within West Greeley.

Key Findings:

• Approximately 1.8 million square feet of commercial demand could be supported over a 20-year period.
• Demand is driven by new residents, employment growth and visitor activity.
• The study found potential for new retail and commercial activity rather than simply shifting existing spending from other parts of Greeley.

Why It Matters: Understanding future commercial demand helps inform infrastructure planning, land use decisions and economic development opportunities.

Arena, Hotel & Water Park Feasibility

Hotel & Leisure Advisors (H&LA) evaluated whether the proposed arena, hotel, conference center and indoor water park could operate successfully in the Northern Colorado market.

Key Findings:

• The arena, hotel and water park were found to be operationally viable.
• The analysis included multiple scenarios and conservative market assumptions.
• The study evaluated attendance, occupancy, visitation and operating performance over time.
• The arena analysis included the Colorado Eagles as a long-term anchor tenant.

Why It Matters: Feasibility studies help determine whether facilities can realistically attract visitors, generate revenue and sustain operations over the long term.

Economic Impact Analysis

An economic impact study was conducted to evaluate broader community outcomes and economic benefits associated with the project.

Key Findings:

• The study projected:
  • Construction-related jobs and economic activity during development.
  • Long-term visitor spending.
  • Additional tax revenue generation.
  • Ongoing economic activity associated with operations and tourism.

Why It Matters: Economic impact studies help communities understand potential public benefits beyond direct project revenues.

Financing & Project Costs

How Financing Was Evaluated

Financial planning for the project incorporated assumptions from the market, feasibility and economic impact studies.

The financing structure considered:

• Certificates of Participation (COPs)
• Potential bond financing
• General Improvement District (GID) revenues
• Public-private partnership structures
• Phased implementation and risk-management strategies

Current Status: The Oversight Committee is currently reviewing project finances, costs, obligations and potential paths forward as part of its evaluation process.

Independent Reviews & Additional Analysis

How Were Different Studies Used? As part of the public discussion, additional reviews and analyses have been conducted regarding project assumptions, costs and financing.

The City, Oversight Committee and City Council continue to review information from multiple sources to better understand project risks, opportunities and potential outcomes.

No single study determines the future of the project. Instead, decision-makers are evaluating the full body of information available as they consider next steps.