Development

A Staged Action-Sports Campus.

RTS is delivered in phases anchored by The Knot. Phase 1 renovates the existing building and reopens the anchor; Phase 2 brings the new climbing gym, skate park, concessions, and restaurant online together; later-phase venues stay as flexible scope until program and capital align. Real estate ownership is separated from the operating vehicles that contribute rent or revenue share.

Delivery posture

Staged

Pre-development plan, not a construction guarantee

Phase 1 opening

03/17/27

Existing gym reopens after renovation

Phase 2 opening

01/17/28

New gym + skate + concessions + restaurant

Structure

RE / OpCo

Real-estate ownership split from operating vehicles

Phase Plan

Phase 2 mobilizes on Phase 1 Certificate of Occupancy. Later phases sit outside the active build sequence until scope and capital are confirmed.

Phase 1

Anchor preservation

Land closing and sitework. UST removal and environmental readiness on the existing building. Renovation of the existing climbing gym to opening-ready condition. Enough Phase 2 readiness work to preserve the expansion path without committing to the new build.

First delivery is the renovated anchor — proving operating cash flow before the bigger capital ask.

11/17/26 → 03/17/27 4-month construction · 3–6 month opening ramp

Phase 2

Campus expansion

New climbing gym building. Skate park. Concessions building. Restaurant / F&B build-out for the tenant operator. Parking, landscaping, and shared circulation that ties the campus together. Additional climbing walls extend the anchor's program scope.

The Phase 2 opening group hits at once on a single CO event so the campus reads as one destination, not a sequence of openings.

03/17/27 → 01/17/28 10-month construction · 3–6 month opening ramp

Later phases

Held until capital and scope align

Roller derby / rink and standing wave venues stay as flexible scope items. They sit outside the base build sequence and are introduced when a capital tranche and operating program decision support them.

Optional lanes outside the campus — Townhomes (Parcel 6) and Larson WH lease — are tracked separately so they can be activated without disturbing the base plan.

TBD Manual timing · activation gated by program + capital

How the campus operates

Three operating stories that hold across phases.

Anchor

The Knot is the operating spine.

An existing climbing business with a verified member base, current revenue, and operating discipline. Phase 1 reopens it in the renovated building; Phase 2 expands capacity. The Knot's brand and member draw underwrites traffic for the rest of the campus.

Restaurant

Tenant / operator on rent + revenue share.

F&B is run by an operator under a lease, not in-house. The project owns the building and earns base rent plus a percentage of operator gross sales. This keeps F&B risk with the operator while still capturing campus-traffic upside.

Real estate vs. operating

Ownership separated from operating vehicles.

Real-estate ownership and project funding sit in one structure; operating vehicles that contribute rent, revenue share, or operating support (The Knot, F&B operator, concessions operator) sit in separate vehicles. Clean line between asset and operations for lender review.

Posture

This is a pre-development staged delivery path. It reads as the active plan we're underwriting against — not a final construction guarantee. Build sequences, durations, and later-phase dates are working assumptions that resolve as plans, permits, and capital land.