DENVER (KDVR) -- Kroenke Sports and Entertainment, which owns Ball Arena and other entertainment venues, announced its purchase of properties along the River Mile development on Thursday.
KSE said in a press release that it acquired Revesco Properties' interest in the River Mile development, a project that plans to transform a mile of properties along the South Platte River into a walkable neighborhood that combines nature and city life.
The sale includes Elitch Gardens Theme and Water Park and 1338 1st Street, which is home to Meow Wolf and other properties, as well as "other related assets," KSE said.
KSE and Revesco Properties have been working together since their joint purchase of the 58-acre historic Elitch Gardens in 2015. Renderings on The River Mile website show a future for the area with new skyscrapers, green space along the river and more.
KSE also has plans to redevelop 55 acres near Speer Boulevard and Auraria Parkway, including the Ball Arena campus, into a new walkable neighborhood with housing, retail, entertainment, and green space.
First plans for Ball Arena Redevelopment filed in Denver show hotel, venue and housing“Realizing sole ownership of these properties will allow us to streamline our comprehensive vision for the future development encompassing The River Mile and the adjacent Ball Arena campus,” KSE Owner and Chairman E. Stanley Kroenke said in the release. “We are grateful to Revesco for many years of productive collaboration.”
The future of the area is now in KSE's hands.
“We are incredibly proud of our work with KSE as the stewards of Elitch Gardens over the past decade, and to have been a catalyst for a re-imagining of the site known as The River Mile,” said Rhys Duggan, Founding Member, President & CEO of Revesco Properties. “We believe the blueprint has been set for the future of Central Denver and that both the Park and The River Mile vision are in good hands with Mr. Kroenke and his family.”
KSE said that Elitch Gardens and Meow Wolf will continue to operate at their current sites, KSE said. Executive Vice President Mike Neary said the amusement park is a "rite of summer" for over a million visitors each year, and they intend to keep it that way and "better than ever."
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