An aerial shot of Elitch Gardens. (Courtesy Guerilla Capturing)
Stan Kroenke doesn’t have to share the roller coasters anymore.
The billionaire’s Kroenke Sports & Entertainment firm on Wednesday became the sole owner of the Elitch Gardens property, buying out the stake that had been held by Denver-based Revesco Properties.
The two firms had been partners since they jointly bought the site in 2015.
The deal also included the Meow Wolf building just south of the amusement park and 1380 Zuni St., a nearby industrial property that the two firms bought in 2023 for $7.35 million.
Financial terms were not disclosed, and no public records related to the transaction had been recorded by Denver as of Thursday afternoon.
Elitch Gardens has for years been regarded as one of Denver’s large-scale redevelopment sites. Revesco CEO Rhys Duggan said as far back as at least 2018 that the park would be moved to a new site, and its existing property along the South Platte River next to Ball Arena would become a new neighborhood, with millions of square feet of new development.
The Denver City Council approved a rezoning and other changes needed to allow that to happen. But the amusement park remains where it is, with no public timeline given for moving it. In a press release announcing the Wednesday buyout, KSE said only that Elitch Gardens and Meow Wolf “will continue to operate at their current sites.”
A rendering on The River Mile’s website. (Courtesy photo)
Kroenke also owns Ball Arena, as well as the Denver Nuggets and Colorado Avalanche, and plans to redevelop the sprawling parking lots that surround the venue. He appears to be prioritizing that project over The River Mile.
“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,” Stan Kroenke said in a statement. “We are grateful to Revesco for many years of productive collaboration.”
Duggan told BusinessDen in 2015 that it was his firm that initially pursued the purchase of Elitch Gardens, bringing in Kroenke and another partner — which exited years ago — before the deal closed. Duggan declined to comment on Thursday beyond what was included in the press release.
“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,” Duggan said in a statement. “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.”
An aerial shot of Elitch Gardens. (Courtesy Guerilla Capturing)
Stan Kroenke doesn’t have to share the roller coasters anymore.
The billionaire’s Kroenke Sports & Entertainment firm on Wednesday became the sole owner of the Elitch Gardens property, buying out the stake that had been held by Denver-based Revesco Properties.
The two firms had been partners since they jointly bought the site in 2015.
The deal also included the Meow Wolf building just south of the amusement park and 1380 Zuni St., a nearby industrial property that the two firms bought in 2023 for $7.35 million.
Financial terms were not disclosed, and no public records related to the transaction had been recorded by Denver as of Thursday afternoon.
Elitch Gardens has for years been regarded as one of Denver’s large-scale redevelopment sites. Revesco CEO Rhys Duggan said as far back as at least 2018 that the park would be moved to a new site, and its existing property along the South Platte River next to Ball Arena would become a new neighborhood, with millions of square feet of new development.
The Denver City Council approved a rezoning and other changes needed to allow that to happen. But the amusement park remains where it is, with no public timeline given for moving it. In a press release announcing the Wednesday buyout, KSE said only that Elitch Gardens and Meow Wolf “will continue to operate at their current sites.”
A rendering on The River Mile’s website. (Courtesy photo)
Kroenke also owns Ball Arena, as well as the Denver Nuggets and Colorado Avalanche, and plans to redevelop the sprawling parking lots that surround the venue. He appears to be prioritizing that project over The River Mile.
“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,” Stan Kroenke said in a statement. “We are grateful to Revesco for many years of productive collaboration.”
Duggan told BusinessDen in 2015 that it was his firm that initially pursued the purchase of Elitch Gardens, bringing in Kroenke and another partner — which exited years ago — before the deal closed. Duggan declined to comment on Thursday beyond what was included in the press release.
“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,” Duggan said in a statement. “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.”
