Stan Kroenke’s latest real estate project looks to bring new life to his struggling Major League Soccer team.
The Colorado Rapids — who have the worst record in MLS and finished the 2022 season second-to-last in attendance — play at Dick’s Sporting Goods Park in Commerce City, Colorado, about 10 miles from the other major professional sports venues in downtown Denver.
Dick’s Sporting Goods Park is owned by Commerce City, but Kroenke owns a 269-acre plot of land surrounding the 18,000-seat venue and is now seeking an additional 88 acres via a three-way land swap with the city and a county water plant.
Developing the land around the Rapids’ stadium with shops, bars, and restaurants would no doubt make it more attractive for consumers, but Commerce City is balking at the proposal. It says the 88 acres could be worth $50 million — and Kroenke is only offering to trade 9.7 acres of his land.
No timeline is in place for a potential deal, which would follow other recent sports facility projects involving Kroenke.
Hotel California
Last month, the Los Angeles Rams filed paperwork to build a new training facility and team headquarters in the Woodland Hills neighborhood — much closer to SoFi Stadium than their current base in Thousand Oaks, California. It would also include restaurants, hotels, and retail spaces.
Kroenke has also taken over a San Diego development project featuring a 16,000-seat arena that could potentially host an NBA or NHL team. The arena would be the centerpiece of a 48.6-acre site that would also include new housing units, a hotel, and retail spaces.
