Denver Nuggets and Colorado Avalanche team president Josh Kroenke on Tuesday morning signed a deal that ties those franchises to Ball Arena and the land around it through 2050 — just hours after the City Council gave key approvals for a massive redevelopment on the site.

The Denver Nuggets face one of the league's best young teams Thursday, immediately testing Nikola Jokić and company as they start the regular season. State of play: Denver will host the Oklahoma City Thunder,

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

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.

FOX31's Ashley Michaels attended a news conference at Ball Arena to listen to the reactions and sentiments of those behind the approval of a redevelopment of the area around Ball Arena.

The redevelopment is expected to bring 6,000 housing units, 780 hotel rooms, retail spaces, a recreation center, a child care facility, new transit stops and a 3-acre park, along with increased connectivity to surrounding neighborhoods, according to speakers at the hearings.

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.

Denver's Mayor and KSE agree to keep Nuggets and Avalanche in the city until 2050, with Ball Arena area redevelopment.

Denver Mayor Mike Johnston said that the Denver Nuggets and Colorado Avalanche will stay at Ball Arena for the next 26 years, until 2050.