The Ranch Events Complex
In 2018, CSL, in collaboration with Populous, were contracted by Larimer County to develop an Implementation Program and Strategy for The Ranch Events Complex. The County developed a Master Plan in 2017 that included more than $200 million in planned capital improvements, and the project team’s Implementation Program defined specific site improvement projects that will lead into the design phase of the delivery process. Core facility elements of the strategy developed included a new 10,000-seat spectator/sports arena, a new 250-room full-service hotel and convention center organized under a public/private partnership (P3), and a variety of other event and support facility products.
As part of our analysis, CSL tested the market demand and associated benefits of a potential expansion/improvement to the existing Arena. Further, CSL evaluated the potential development of a new three-sheet indoor ice center; a natatorium offering a 50-meter competition pool, warm-up pool and other such amenities; renovations and expansion of the existing equestrian complex; and the opportunity to develop a County-owned 60,000-square foot exhibition center attached to a new full-service hotel and associated ballroom and breakout meeting space. Using project-specific market demand research, industry expertise and computer modeling software, CSL then estimated the quantifiable and unquantifiable benefits associated with each project component.
CSL was subsequently retained to provide research, analysis and planning and advisory services with respect to the evaluation, solicitation, and negotiation of P3 opportunities associated with the planned full- service hotel, new sports/entertainment arena, and new indoor amateur sports complex at The Ranch. This process included a hotel market and financial analysis, preparation of P3 RFI (request for expressions of interest), P3 planning and evaluation, the development and distribution of RFPs (request for proposals), evaluation of RFP responses, selection of and negotiation with private sector partners, as well as development and business planning assistance. The goal of the effort was to engage the private sector in hopes of generating a synergistic relationship in which the project development timeline could be accelerated, and the investment risk would be shared between public and private sector partners.
In December 2019, the $260 million Updated Master Plan for The Ranch was approved by Larimer County’s Board of Commissioners.