Part of the agreement will keep the Denver Nuggets and Colorado Avalanche in downtown Denver until 2050.

The Denver City Council on Monday cleared the way for Denver Nuggets and Colorado Avalanche owner Stan Kroenke to build new skyscrapers on the expanse of parking lots around Ball Arena where those teams play. The council also ensured those teams will stay on Kroenke-owned land in central Denver for another quarter century.

The transformational redevelopment project that will create a new residential and commercial district around Ball Arena can now move forward after Denver City Council approved a series of rezoning, development agreements,

Kroenke Sports and Entertainment (KSE), which owns Ball Arena as well as the Colorado Avalanche and Denver Nuggets, is behind the 64-acre redevelopment project. They say it would create a new neighborhood with housing, bike lanes, open space and amenities like artist spaces and childcare facilities.

The Denver City Council voted to approve a plan to rezone the area around Ball Arena for a development proposal.

The area around Ball Arena is about to undergo a major makeover, but not everyone is thrilled. Why it matters: The 64-acre game-changing development, backed by arena owner Kroenke Sports and Entertainment,

Council members will vote on rezoning the area around the arena where the Nuggets and Avalanche play. If approved, 1,000 housing units would be built on the existing parking lots.

Downtown Denver's skyline will look different thanks to a new project that Denver City Council voted to approve on Monday.