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Universal Orlando Resort Expansion (Part 1)

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Lots of exciting news!! Even just the speculation is exciting :p And all those teasers...tsk! But don't stop! ;) This makes me miss living in Orlando (though I don't miss that heat).

I'm really looking forward to our Universal/Orlando honeymoon late next year! 2014 looks to be incredible, even if some of these attractions (like the water park -- can't wait to see what Universal can do with that!) will likely still be under construction even then. My fiance is well used to my, um, extreme enthusiasm about construction permits, ride track pieces, and scaffolding (to list just a few), so he shouldn't even blink when I demand that we drive around a bit so I can gawk and take pictures of barren construction areas and whatnot. XD

Oh, and hello! :D This news, on top of getting caught up with all the other excellent news & construction updates of the last few months, was just too exciting to go without comment. Universal has always been a favorite park of mine, so seeing the new ownership giving it so much love and attention is fabulous! And all this aggressive expanding and updating just makes me want more, more MOAR :p
 
Sithina said:
Lots of exciting news!! Even just the speculation is exciting :p And all those teasers...tsk! But don't stop! ;) This makes me miss living in Orlando (though I don't miss that heat).

I'm really looking forward to our Universal/Orlando honeymoon late next year! 2014 looks to be incredible, even if some of these attractions (like the water park -- can't wait to see what Universal can do with that!) will likely still be under construction even then. My fiance is well used to my, um, extreme enthusiasm about construction permits, ride track pieces, and scaffolding (to list just a few), so he shouldn't even blink when I demand that we drive around a bit so I can gawk and take pictures of barren construction areas and whatnot. XD

Oh, and hello! :D This news, on top of getting caught up with all the other excellent news & construction updates of the last few months, was just too exciting to go without comment. Universal has always been a favorite park of mine, so seeing the new ownership giving it so much love and attention is fabulous! And all this aggressive expanding and updating just makes me want more, more MOAR :p
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:welcome:

We are in the mist of a Universal renaissance :happy:
 
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I see a lot of talk about the land that they purchased being more then Wet 'N Wild. The land under the park, the parking lot, the overflow lot, the team member lot, and the land support buildings are built on. In all, they purcahsed the land they use for Wet 'N Wild (and nothing more) in this transaction.

Doesn't mean they aren't going to buy more, but all the talk I see about a third gate on the property makes no sense. (Unless you count the water park as a third gate, which if you do you should have been counting it for quite some time now). They can re-brand it and make it better, but I don't think they're going to walk away from the water park concept and build something else here.
 
Nitro_230 said:
Doesn't mean they aren't going to buy more, but all the talk I see about a third gate on the property makes no sense. (Unless you count the water park as a third gate, which if you do you should have been counting it for quite some time now). They can re-brand it and make it better, but I don't think they're going to walk away from the water park concept and build something else here.
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Agreed on the no third park here.

But I think whatever they do will be more substantial than just rebranding WNW
 
JungleSkip said:
Agreed on the no third park here.

But I think whatever they do will be more substantial than just rebranding WNW
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I also agree, this is for a water park, not a 3rd park. Why else would they buy it under the name "Universal Studios Water Parks Florida LLC"?
 
I have no idea what more land and building, connecting, and rebuilding would cost, nor do I have any idea how much space the parking garage and City Walk take up....anyway, just being crazy here, but could it make sense to move things like (customer) parking, support buildings and such, retail (City Walk) down the street as a way to open up space for a third gate within the current footprint as a way to keep your gates in the same area...then just needing some sort of transport from parking to gate?
 
Just did a quick look at the numbers for the land around WNW on both sides of I-Drive, and I don't think they'd have to spend much more than another $25-30 million to pick up those 16 parcels. The price could go up a fair amount if businesses like Walgreens and KFC that own their land outright don't want to move that much, though.
 
maxairmike said:
Just did a quick look at the numbers for the land around WNW on both sides of I-Drive, and I don't think they'd have to spend much more than another $25-30 million to pick up those 16 parcels. The price could go up a fair amount if businesses like Walgreens and KFC that own their land outright don't want to move that much, though.
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that's surprisingly cheap. I don't see why they wouldn't at least go for it
 
The relatively low value of the shop buildings and businesses helps drive down the assessed market value. Buildings like George's Music have very little value because they are more of an eyesore than a positive, and there's incentive by assessing a lower value to push a business like that into a more visually controlled situation like a strip mall where hopefully the landlord takes better care of the appearance. The issues arise when the eyesores start to pile up and you reach a point where the surrounding land is no longer of value or interest because it has all become run down. The north part of I-Drive is starting to approach that point of no return, I think (it would already be there if it weren't for Universal, because Fun Spot and WNW aren't enough to save it), so the city is very likely to help Universal with any kind of cleanup they want to do. The largest issue of the area at this point is that businesses were built too close to the road providing no room for additional lanes.
 
JungleSkip said:
Agreed on the no third park here.

But I think whatever they do will be more substantial than just rebranding WNW
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When I say re-brand I mean far more then change the sign. Obviously it's not up to the standards to be branded Universal. Without even thinking much about it they need to re-work the pricing structure to keep it more tourists then locals, secondly they need to re-pave the parking lot and make it more attractive, re-do the entrance area, add some more shade, ect
 
Does anyone know what the lease agreement was in terms of price? My first instinct is that this significantly lowers operating costs for the park, by at least a few million a year. This investment might pay off relatively quickly depending on that lease amount. I'd expect more buying activity in the next 3-6 months of the parcels to the west. What they buy and how quickly will likely be a good hint at what they plan on doing with the property.
 
maxairmike said:
Does anyone know what the lease agreement was in terms of price? My first instinct is that this significantly lowers operating costs for the park, by at least a few million a year. This investment might pay off relatively quickly depending on that lease amount. I'd expect more buying activity in the next 3-6 months of the parcels to the west. What they buy and how quickly will likely be a good hint at what they plan on doing with the property.
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Important thing to remember is that WNW has been in place for quite some time, long before that end of I drive was big (though it is now dead again). So the lease could have been very low if it was a long term one they were still on. If that is the case the savings would be low, but savings on the less.
 
Looking at the property closer in Google Earth, there really isn't all that much in terms of infrastructure worth saving. There are a few pools and random concrete paths but no buildings or landscaping really worth saving. My guess is they shut it down for 2 years and completely gut it to start from scratch.
 
So with this purchase, Universal officially fully owns WnW now correct? In the past, if you worked at WnW, you weren't actually considered a Universal TM. You didn't get in the parks free and because of that, you couldn't internally apply to transfer to another area of the company. You had to reapply like anyone else coming in for a regular interview. This would be definitely be a great thing for them if they can get treated equally finally.
 
gator said:
Looking at the property closer in Google Earth, there really isn't all that much in terms of infrastructure worth saving. There are a few pools and random concrete paths but no buildings or landscaping really worth saving. My guess is they shut it down for 2 years and completely gut it to start from scratch.
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I agree with this. Id gut the whole thing and start over from scratch. Maybe save a few of the bigger bowl slides and new kiddie water castle and implement that into a new park
 
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