DENVER (CBS4)– The new development by Coors Field will be called McGregor Square. It’s named after Keli McGregor, the president of the Colorado Rockies who died suddenly of a rare virus in 2010.

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The plans are to transform the West Parking Lot at 19th and Wazee Street with 114 condos, 144,000 sq. ft. hotel, retail and office space, a parking garage and a baseball hall of fame.

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The name was revealed on Thursday, the day before the Rockies Home Opener. The crowd applauded the move by the Rockies’ owner and his family.

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“We wanted it to be something with character, we wanted it to be fun… it needed to have style and class needed to be a strong presence and it needed to be one-of-a-kind,” said Rockies owner Dick Monfort.

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McGregor was just 47 years old when he died from a rare virus.