The City of Denver has committed nearly $10 million as seed money for an ambitious equestrian-themed development. The National Western Campus will consist of a 4,500-seat, 570-stall equestrian center and the $100 million Western Stock Show Association Legacy Building.

The Denver Business Journal reports the new proposal covers a one-time city payment of up to $9.97 million to cover pre-development costs for the equestrian center project and then up to $23.3 million annually over 35 years. The project costs may reach $400 million.

Additionally, plans include a 160-room hotel, a parking garage, a 5-acre pedestrian plaza and open space area, and 30 to 40 units of workforce housing.

The city will use $775 million of already-approved public bond money for improvements. Construction is set to be complete in 2028. The project would be a replacement facility for the National Western Center’s existing event center. The city would own the new equestrian center.