DENVER (CBS4) – The redevelopment of the National Western Complex is one step closer to reality. On Thursday the City of Denver received a $15 million downpayment for the project.
Beer businessman Pete Coors presented the check to Mayor Michael Hancock in the morning.
Coors is the chairman for the National Western Capital Campaign, which is raising money for the renovation.
The plan is to completely redo the complex so it becomes a year-round destination for arts and entertainment.
“This is going to be a gem of an asset giving back to the people of Denver for the next 100 years and I think it’s a special moment to receive the first downpayment,” Hancock said.
The renovations are expected to take at least seven years.