Fengate consortium selected to develop arena project in Denver
The National Western Center (NWC) announced they have entered into a Predevelopment Agreement with Community Activation Partners (CAP) to develop an equestrian center, hotel and parking garage.
Community Activation Partners, a collaborative team led by Fengate Asset Management (Fengate), which includes Hensel Phelps, Perkins&Will, Oak View Group, McWhinney Real Estate, Sage Hospitality and 4240 Architecture, was selected by the NWC and the City and County of Denver following a competitive two-stage procurement process to design, build and finance the project, as well as deliver event programming and hotel operations for 30 years.
“We are thrilled to announce our partnership with Community Activation Partners. This collaboration represents a significant step forward in our mission to convene the world at the National Western Center to lead, inspire, create, educate, and entertain in pursuit of global food solutions.” National Western Center CEO, Brad Buchanan said. “Adding the Equestrian Center, hotel and parking garage to the campus will provide exceptional benefit to our customers and community partners.”
“The city and our partners remain committed to delivering on priorities outlined in the Master Plan and included in 2015’s Ballot Measure 2C,” said Mike Bouchard, Executive Director of the Mayor’s Office of the National Western Center. “The equestrian center is a vital part of campus infrastructure and supports current and future uses.”
The purpose of the Predevelopment Agreement between the NWC and CAP is to begin the next phase of the project, progress project goals, continue due diligence, integrate community feedback, and advance design to a level of detail sufficient for negotiating and agreeing to a Development Agreement, funding for which will be considered for approval by Denver City Council.
“Fengate is pleased to collaborate with industry-leading partners and our client, the National Western Center, to realize the center’s master plan vision and bring this large-scale, complex project to life,” said Mac Bell, Managing Director, Infrastructure Investments at Fengate.
Fengate is managing this investment on behalf of the Fengate Infrastructure Fund IV and its affiliated entities, including an investment by the LiUNA Pension Fund of Central and Eastern Canada.
The equestrian center and hotel will drive additional activation on the campus by providing event space, which will contribute to overall campus revenue. The revenue generating spaces will benefit the community by providing dedicated community space, jobs, as well as increased contributions to the Globeville Elyria Swansea Community Investment Fund (CIF).
The Equestrian Center Project will feature a 4,500-seat arena, horse barn with more than 550 stalls, and a parking garage that will provide at least 580 campus parking spaces. The hotel, with an estimated 200 rooms, will be located adjacent to the equestrian center. The development team consists of:
- Lead Developer: Fengate Asset Management
- Lead Contractor: Hensel Phelps Construction
- Lead Designer: Perkins+Will
- Events Programmer: Global Spectrum (dba Oak View Group)
- Hotel Developer: McWhinney Real Estate and Hensel Phelps Real Estate Development
- Hotel Manager: Sage Hospitality
- Hotel Designer: 4240 Architecture.
The Equestrian Center will complete the last major facility from Phases 1 and 2 of the National Western Center’s City Council approved Master Plan.
