Master-Planned Mixed-Use Community
Westfield purchased a 670-acre parcel in Greeley, Colorado a few miles east of I-25 to create a major mixed-use project zoned for office, light industrial, commercial, service, entertainment and a variety of residential uses.
The first project within the park enabled State Farm Insurance to relocate from downtown Greeley into a consolidated business park-based campus environment. Westfield successfully negotiated a complex tri-party purchase and development agreement that included State Farm and the City of Greeley.
Promontory contains approximately 300 commercial acres and 250 residential acres as well as master-planned parks and open space. The 23-acre “Central Park” has lakes with waterfalls, trails and an outdoor amphitheater.
Financial development mechanisms included bond financing through two different Metro Districts and private financing. State Farm completed construction of a three-building, 500,000 square foot business campus and Swift and company purchased a site for an 80,000 square foot regional headquarters building.
Today, Westfield has land for sale zoned for office, retail, R & D, single-family and multifamily development. Promontory will mature into Northern Colorado’s premier work, play, and live environment over an ongoing 15-year planning horizon. Promontory’s total value at build-out should exceed one billion dollars. 