The 6,500 seat 1stBank Center in Broomfield was initially expected to be an economic driver for the growing town. It was hoped that the arena would host dozens of concerts, ball games and rodeos, becoming a focal point of the community. Unfortunately, The 1stBank Center never lived up to expectations and will close later this year before being demolished.
Built at a cost of $45 million and financed by issuing nearly $60 million in bonds, it became apparent soon after its grand opening in 2006 that The 1stBank Center would not make a profit. According to city council reports there is still more than $34 million owed on the event center’s bond debt which must be paid off prior to demolition taking place. Once torn down however 22 acres will become available for sale with potential buyers able to explore new opportunities within Broomfield’s economy going forward..
