For more than 60 years, the Denver Broncos’ story has been inseparable from the city they call home. That tradition is set to continue with a bold new chapter.

On Tuesday, the Broncos, along with the City of Denver and the State of Colorado, announced Burnham Yard as the preferred site for a privately funded, retractable-roof stadium at the heart of a mixed-use district. While the project will rely on private investment, the city and state will support surrounding public improvements—without introducing new taxes.

The decision comes after a years-long collaborative process, marking a milestone moment for the franchise and the community.

“Our goal is to provide world-class facilities for our team and fans, while honoring the rich tradition of Mile High,” said Owner & CEO Greg Penner. “Burnham Yard offers proximity to downtown, connections to Denver’s history, and the chance to build something special. We couldn’t be more excited.”

Still, Penner emphasized that the journey has only just begun. The Broncos will now engage in a transparent planning phase with the community, including a strong Community Benefits Agreement in partnership with Denver City Council.

“We need to roll up our sleeves and do this right,” Penner said. “This process will take years, and it’s important that we listen to and learn from our community along the way.”

Spanning more than 100 acres, the new district will become a year-round hub for sports, entertainment, dining, and public gathering.

“From the day we arrived, we’ve been thinking about what a future home for the Broncos could look like,” said Owner Carrie Walton Penner. “For us, that vision has always been tied to Denver.”

Why Burnham Yard?

Just southeast of Empower Field at Mile High, Burnham Yard sits along the I-25 corridor between 6th and 13th avenues. Once a bustling railyard dating back to the 1800s, it powered Denver’s economy for nearly 150 years before closing in 2016. The state purchased the property in 2021.

“This project leans into the city’s history,” Walton Penner said. “We see an opportunity to celebrate the rail yard’s legacy while creating a destination that serves Denver’s future.”

The Broncos are pursuing agreements to purchase 58 acres from the state and 25 acres from Denver Water, with additional private acquisitions rounding out the site.

A Public–Private Partnership

Governor Jared Polis praised the approach:
“The Broncos are central to our identity as a city and state. I’m thrilled that we’re doing this in a way that secures their future in Denver without asking taxpayers for hundreds of millions, like deals of the past.”

Mayor Mike Johnston added:
“As someone who grew up going to Broncos games, I know how special this is. Generations to come will walk through Denver and see their team right here. That’s an incredible gift to this city.”

The Walton-Penner Family Ownership Group will fund both the stadium and the surrounding district, while the city and state will contribute to infrastructure improvements that benefit the community year-round.

Vision for 2031 and Beyond

The new stadium is scheduled to open in time for the 2031 season, coinciding with the expiration of the Broncos’ current lease at Empower Field. The venue will feature cutting-edge amenities, a natural grass field, and a retractable roof designed to enhance the fan experience, protect Denver’s home-field advantage, and attract marquee events.

Around it, the mixed-use development will include restaurants, retail, housing, office space, hotels, entertainment venues, and public gathering areas, all connected by multi-modal transit options like RTD light rail.

“This won’t just be a stadium with a parking lot,” Walton Penner said. “It’ll be a destination people talk about—something you have to see when you come to Denver.”

The Broncos are still in the early design phase and plan to release renderings soon.

Honoring the Past, Building the Future

The organization intends to preserve Burnham Yard’s historic elements and incorporate them into the new district.

“When we first stepped on the site, we saw an opportunity to highlight Colorado’s rail history,” Penner said. “We want to activate those old buildings and make them part of what we’re creating.”

The comprehensive process will now shift toward deeper civic engagement, site planning, and formal agreements.

“Greg and Carrie’s leadership shows a true commitment—not just to the Broncos’ future, but to this community,” said Broncos President Damani Leech. “There’s still much work ahead, but together with our partners, we’ll shape something transformational for Denver.”

If the project moves forward as planned, Empower Field will eventually revert to city ownership, where new community-driven plans will be developed for the site.

Since acquiring the team in 2022, the Walton-Penner group has explored stadium options extensively, surveying thousands of season ticket members, conducting over 100 focus groups, and studying stadium models nationwide. The feedback was clear: fans want a near-downtown stadium with a retractable roof, year-round amenities, and easy access.

“This stadium is the next great investment in the Broncos’ legacy,” Penner said. “We believe it will serve our fans and community for the next 50 to 60 years.”