CHEYENNE – Two Cheyenne business men are purchasing a former steam plant building on the west side of Cheyenne with the idea of turning the vacant building into a multi-use facility.
Closing on the facility at 800 W. 17th Street is scheduled for January 2016. The purchase price of the new building was not disclosed. The building is being bought by West Edge Development Co., which is owned by Chet Halvorson and Craig Riley.
“We like historical buildings and what got our attention on this building was the West Edge District and the potential this building has in the revitalization of the western portion of downtown,” said Halvorson “While plans for the inside are still tentative, we are looking to have a restaurant/bar, retail space, office space, lofts and some outdoor space once the building and area is completed.”
“This is a perfect fit for the West Edge,” said Bob Bradshaw, Special Projects Director for the City of Cheyenne. “This is the kind of projects we are looking for and it will only increase the interest in the West Edge vision.”
Riley said,“The Steam Plant is truly an iconic building but Chet and I would not have considered investing in the project without the cooperative efforts from the City of Cheyenne, Ayres Associates and all of the West Edge Team. The West Edge District will probably be a case study some day on the benefits of public and private partnerships.”
“Community support for the West Edge is leveraging great rewards, setting the table with public investments like Civic Center Commons and Pumphouse Park to entice private interest and investment in the district. This example of results-oriented community development demonstrates how effective an inspired vision paired with strategic implementation can help to cultivate investment that simultaneously bolsters the economy, the environment, and quality of life,” said Matt Ashby, Planning Services Director for the City of Cheyenne.
The West Edge District has gained traction by leveraging various funding sources. Starting with the 2012 Specific Purpose Tax election in which voters allocated $4.8 million toward storm water improvements, the City and community partners have secured an additional $11 million in grants and loans to help advance the West Edge District vision. Utilizing trend-setting technology, the effort has gained notoriety around the country, in large part due to the informational video and 3D digital modeling that enables the community and investors to see the potential improvements for the District.
For more information, visit www.cheyennewestedge.com.