Updated 3:23 p.m.
The city of Denver could spend $70 million to buy land for a women’s soccer stadium and make improvements near the site in the Baker neighborhood, according to a newly released city document.
The unnamed new National Women’s Soccer League (NWSL) team had already unveiled its plan to build a stadium as part of a mixed-used development adjacent to the Broadway Station light rail stop — but details on the finances have been short.
Now, the city is proposing a two-part public spending package to support the project.
The city could spend up to $50 million to buy land for the stadium and make improvements on the site, which is near Interstate 25 and Broadway.
Another $20 million could go to parks, trails, a bridge and other improvements in the surrounding area. Improved infrastructure around the stadium could “increase its benefit and enjoyment by neighbors and visitors."
The city would own the stadium land permanently, allowing it to repurpose the property if the team ever leaves. The stadium is set to anchor a larger 41-acre development known as Santa Fe Yards, which could include a mix of residential and other uses by 2028.
Mayor Mike Johnston previously said the city’s commitment to the project would be limited to land acquisition and infrastructure costs. He said the construction of the stadium itself would be fully funded by the team’s ownership.
The stadium is planned to be tightly integrated with nearby public park space and more, according to the presentation. A rendering shows a stadium with one end opening toward a green lawn and pavilion.
The spending could “at long last” reconnect the “adjacent neighborhoods via investment in the public infrastructure necessary to provide public access and services to the stadium and park site.”
The I-25 and Broadway area is divided by the highway, Broadway, rail tracks and the South Platte River.
Where will the money come from?
The city would pay for its stake in the projects by shuffling around its budget. It would free up money in its capital budget by changing the funding source for other projects. Those other projects would instead be funded by interest the city has accrued on money it borrowed as part of the Elevate Denver bond package.
The Denver City Council would have to approve the spending and also would have to approve a rezoning of the land. The city also has promised a community outreach process.
City Council will vote on a conditional funding approval, but funds will not be dispersed until after the community process, the council vote on the rezoning and an additional budget appropriation ordinance. That process is expected to take the rest of the year.
Team ownership will present the proposal to Denver City Council’s South Platte River Committee on Wednesday afternoon. The team is expected to emphasize the economic impact of building a mixed-use development in the Baker neighborhood, pointing to similar examples both within the city and at other NWSL stadiums across the nation.
The city also will consider whether tax-increment (TIF) financing could cover some of the $20 million of surrounding improvements. TIF allows the city to redirect some of the increased tax revenue from new development to pay for improvements in an area.
Another major investment for the NWSL team
Denver’s $70 million commitment is just a portion of the hefty financing being planned to help bring professional women’s soccer to Denver.
To secure the NWSL team’s existence, team owners shelled out a record-breaking $110 million franchise fee, according to the city presentation. The owners also may need to come up with tens of millions to build the stadium itself.
The team also has partnered with the Cherry Creek School District and the city of Centennial to build its permanent headquarters, training grounds and a temporary stadium. The cost of that project is expected to be north of $35 million, with the team contributing more than a third. The temporary stadium could revert to the school district once the team moves to its permanent home in Denver.
The first purpose-built stadium for NWSL opened in Kansas City last year, according to the city presentation.
Council members questioned team ownership
After hearing the team’s presentation, several council members expressed concern about the use of taxpayer dollars.
Many pointed to the instability of the financial market, which has seen ups and downs as President Donald Trump has rolled out his highly controversial tariff plans. While the president has paused some tariffs for 90 days, the likelihood of a trade war is still relatively high.
At-large councilmember Sarah Parady said the money could be better used for essential city services.
“We're going to need those things for a wave of homelessness. We're going to need those things for hunger,” she said.
Parady also said she’s worried a financial downturn would leave team ownership unable to complete the stadium’s construction.
District 6 Councilmember Paul Kashmann likened the situation to an optimistic period of growth prior to the 2008 financial crisis.
“Before 2008 hit, there were going to be thousands of housing units, hundreds of thousands of square feet of commercial.,” Kashmann said.
Kashmann and others asked if the city should instead pursue a ballot initiative that would temporarily raise the sales tax to fund the city’s commitment to the soccer stadium.
Rob Cohen, the primary owner of the NWSL team, said he has not explored options to bring in organizations like the Gates Foundation or the Anschutz Family Foundation to help ease the cost.
Flor Alvidrez, who represents the district the stadium will be built in, said she disagreed with pushback from other council members, arguing District 7 needs investment in public space.
“This is, to me, a small investment in an area that has historic redlining right there, that has a lack of public spaces,” she said.
Councilmember Amanda Sawyer had another concern: “I will just say, for $70 million, ‘Denver’ had better be in the name of this team,” she said.
Cohen attempted to assuage concerns about the stadium’s cost by reminding the council that part of the bid to secure the team included a promise that a stadium would be built. In other words, if the stadium isn’t built, the NWSL will take the team away from the city.
City council did not vote on any actionable item at Wednesday’s meeting.
Editor's note: This story was updated to include discussion from Denver City Council's committee meeting Wednesday.
