By Downtown Greeley, Colorado. Photo: Bbean32, CC BY-SA 4.0, via Wikimedia Commons.
Greeley is done with Catalyst. Ten days after voters turned down a sales tax meant to help pay for it, the city said it will not sign a development agreement and will put the west Greeley project’s plans and land up for sale.
Council members decided after an executive session Tuesday, the Greeley Tribune reported. Catalyst was to include a luxury hotel, a Mattel-branded water park and a new arena for the Colorado Eagles and youth hockey, next to the Cascadia development.
“Because the necessary financing has not come together, the City is not moving forward with a Development Agreement. As a result, the Catalyst project as originally envisioned is coming to a close,” city Communications and Engagement Director Jaqueline Villegas said in a text message to the paper.
The vote and the debt
Measure 2F would have created a 0.6% sales tax to cover Catalyst debt and other city projects, including the Downtown Civic Campus. Voters rejected it, with 69% against and just under 25,000 residents voting no. We covered the result when it came in: Greeley voters reject Measure 2F.
That leaves the city with a bill. Catalyst pre-development was paid for with certificates of participation, a type of borrowing, drawn in May 2025. They were meant to be repaid once development partner Provident Resources Group took on construction debt. Now the city has to repay them. The Tribune put the cost at an estimated $147 million over 20 years, interest included. The city has also cut spending by $18 million as it works to balance a strained budget.
What happens to the site
Council members said anyone who wants the plans and land can buy them. “In its current form, where the city is going to pay for an arena, a water park and a hotel, we have decided we’re not going to do that. We heard it loud and clear from voters,” Councilwoman Deb DeBoutez told the Tribune. “If a private business wants, they can come in.” Councilman Johnny Olson put it more bluntly: “The voters spoke. Catalyst is done.”
Greeley would still collect taxes on whatever gets built there. Martin Lind of Windsor-based Water Valley Co., which sought to develop Catalyst and Cascadia, told BizWest his company was not ready to talk about next steps, though he ruled out buying the site back to add homes to Cascadia.
The fight has run more than a year. Residents organized several groups against the project, and a special election in February repealed its zoning before a Weld County district judge, Shannon Lyons, overturned the repeal as unconstitutional.
The city says it remains committed to “responsible growth” on Greeley’s west side and will share next steps with residents. No buyer has been named, and no council vote on a sale has been reported yet.
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