Kroenke Sports Buys Out Revesco, Takes Full Control of River Mile Site
In a significant development for Denver’s urban redevelopment landscape, Kroenke Sports & Entertainment (KSE) has acquired full ownership of the River Mile project, a transformative mixed-use development site along the South Platte River. KSE purchased the remaining stake in the venture from its development partner, Revesco Properties, marking a pivotal step in realizing one of the city’s most ambitious real estate visions.
A Landmark Deal
The buyout, finalized in early June 2025, transfers complete control of the sprawling River Mile site to KSE, the sports and real estate conglomerate owned by billionaire Stan Kroenke. This strategic move consolidates KSE’s influence over the 62-acre project, which aims to reshape the area surrounding the Elitch Gardens amusement park into a high-density urban hub.
While the financial terms of the deal remain undisclosed, the buyout underscores Kroenke’s long-term commitment to urban investment in Denver. The River Mile project, previously a joint venture between Revesco and KSE, had been in planning since 2018, with both companies collaborating on rezoning, infrastructure, and community engagement.
Vision for River Mile
The River Mile development envisions a complete transformation of Denver’s central riverfront. Once complete, the area will feature thousands of residential units, millions of square feet of office and retail space, and robust public infrastructure, including parks, greenways, and transit connections. Designed as a sustainable, transit-oriented community, River Mile is expected to include affordable housing, mixed-use commercial areas, and pedestrian-friendly design principles.
Under KSE’s sole leadership, the project may now accelerate. The company’s extensive resources and experience managing large-scale developments – as evidenced by its involvement in sports arenas, real estate, and entertainment complexes across the U.S. – position it well to handle the next phases of the River Mile’s buildout.
Revesco’s Legacy and Transition
Revesco Properties, a Denver-based development firm known for its urban renewal projects, played a crucial role in the early stages of River Mile. The firm guided the project through years of planning, regulatory approvals, and community outreach. Their departure from the project signals a transition from planning to full-scale development and construction.
In a statement, Revesco acknowledged the buyout and expressed confidence in KSE’s ability to execute the project’s long-term vision. Urban development observers note that Revesco’s departure may simplify decision-making and streamline the implementation process.
Implications for Denver
Kroenke’s full control of the River Mile adds another high-profile property to his already expansive portfolio in the Denver metropolitan area. KSE owns several iconic properties, including Ball Arena, home to the Denver Nuggets and Colorado Avalanche, and surrounding parcels of real estate. The River Mile will now further cement KSE’s presence as a dominant player in the city’s real estate and development scene.
City officials have expressed optimism about the transition, noting that the continuity provided by Kroenke’s involvement could help keep the River Mile on schedule. However, community advocates will be watching closely to ensure that KSE upholds previous commitments to affordable housing, public spaces, and environmental sustainability.
What Comes Next
With the buyout finalized, attention will now turn to the next phase of construction. Infrastructure improvements, including flood mitigation, road expansions, and light rail connectivity, are expected to be among the first visible signs of progress. Vertical construction of residential and commercial units is anticipated to follow in the next few years.
As Denver continues to grapple with housing shortages and urban sprawl, the River Mile could serve as a model for sustainable, high-density growth. With Stan Kroenke and KSE at the helm, the project enters a new chapter — one that promises to reshape the heart of the Mile High City for decades to come.
