Artegon Site for New Theme Park?

[Galaxy Defender]

I have been following the potential for the Artegon Mall property for some time, speculating that Universal could do so much with a site so close to the main property. Recently the property was put up for sale. Now it seems there is a potential buyer.


Here is the short article from The Daily City based on a Growthspotter article.

Artegon Mall May Become a Theme Park
Last week we told you Artegon Mall went up for sale. Saturday, Growthspotter broke the story about what is possibly happening with Artegon Mall. According to Growthspotter's anonymous sources who aren't allowed to discuss the negotiations, an unnamed developer that (1) builds theme parks, (2) does not have a project in Orlando, (3) is US-based and (4) has international partners is pursuing the assemblage of three parcels including (1) Artegon Mall, (2) a 77 acre parcel directly south of Artegon and (3) 32 outparcel acres totaling 213 acres on which they want to build a theme park, water park and hotels.

This is our guess for this unnamed company: Herschend Family Entertainment Corporation. They don't have a presence in Orlando and they develop theme parks, water parks and hotels.

Herschend owns and/or manages many entertainment properties such as Dollywood, Wild Adventures, Stone Mountain and numerous aquariums. They certainly have the resources and experience needed to turn the Artegon property into a theme park, though it is still educated speculation that they are the ones involved. Here is their own description of their family owned company:

Committed for more than half a century to Creating Memories Worth Repeating®, we work daily to create wholesome, immersive entertainment experiences with soul and depth. Experiences for every generation of your family. Sometimes thrilling. Sometimes lighthearted. Always distinctive. Our award-winning theme parks, entertainment and attractions aim to inspire happiness and family bonding.

Today, we are considered the largest family-owned themed attractions corporation. Our parks and attractions are from coast to coast. Our team of more than 10,000 employees creates, develops and operates entertainment, tourism and hospitality properties that currently span 26 locations in ten states.

We take great pride in owning and partnering in leading theme parks including Silver Dollar City in Branson, Missouri, and Dollywood in Tennessee’s Great Smoky Mountains of which Dolly Parton is our partner.

Most recently, we welcomed the legendary Harlem Globetrotters to our team. A complement to our family-friendly portfolio of businesses, the Globetrotters open the door for expansion into new media, audiences and markets.

I am looking forward to whatever comes to the Artegon property. I would much rather see Herschend rather than some investor group trying to create who knows what. Growthspotter is paywall blocked, but you can at least see the image with the property involved and a short description of what is going on. The Daily City does say it is a developer that builds theme parks rather than being a theme park chain, otherwise I would have speculated on Six Flags.

GrowthSpotter - Central Florida Business Intelligence - GrowthSpotter

 

[Teebin]

I knew this was possible if not likely when it reopened with its new name a few years back. Visually, the flow of traffic is not conducive to its success. That is go big or go home land. It might even serve better as an industrial park.

 

[Disneyhead]

The only hiccup to the Herschend theory is that I don't believe they have any international partners. Cedar Fair though, does have international partners.

 

[Mad Dog]

Could actually be a plus for Universal if it's a theme park. Tourists, with 3 Universal Parks , Sea World, and a new park, plus the three water parks, all in the relative area of one another, could easily do a 7 to 10 day vacation without ever setting foot on Disney property ....................(Instead of the Alt Right, there could be the Alt to Disney )

 

[Disneyhead]

I would absolutely LOVE to see a brand new, from the ground up, Cedar Fair theme park. Matt Ouimet has the skills to bring a new resort to the Orlando market and make it work.

That said, Herschend could jump on the whole gastropub/craft/southern homestyle trend and bring upscale Appalachian to the Orlando market.

I also wonder if this is someone that Universal would be interested in partnering with?

 

[quinnmac000]

Could be Six Flags as they have international partners.

 

[s8film40]

Does anyone know how Outdoor World and Cinemark factor in? If they're not interested in selling what happens? I mean it's all the same building, seems like it would complicate things to have to keep part of the building intact. Or perhaps they would leave the building, have some indoor attractions, shops, restaurants and build outdoor attractions in the adjacent land.

 

[Disneyhead]

Does anyone know how Outdoor World and Cinemark factor in? If they're not interested in selling what happens? I mean it's all the same building, seems like it would complicate things to have to keep part of the building intact. Or perhaps they would leave the building, have some indoor attractions, shops, restaurants and build outdoor attractions in the adjacent land.

They could easily tie the Bass Pro store into a Herschend Family type resort. And The Cinemark could round out a CityWalk-esque area.

 

[Galaxy Defender]

Orlando Business Journal has sources backing up the rumor.

http://www.bizjournals.com/orlando/news/2016/10/23/rumored-theme-park-operator-eyeing-artegon.html

Here is an important piece of information from a previous obj article:

The property also comes with entitlements for retail, hotel, timeshare and theme park use, according to CBRE's marketing materials

Already entitled for theme park use. Things could move fast.

 

[Joe]

I think it's imperative to keep expectations in balance, this would be a SeaWorld sized project at 178 acres.

 

[Galaxy Defender]

The new owners bought the property in 2011 for 25 million dollars. They sold the properties with the Bass Pro Shop and the cinema to their tenants for 30 million, recouping their entire investment.

Artegon sells another property: Bass Pro Shops - Orlando Sentinel

 

[quinnmac000]

Thinking about it now...Orlando needs an actual indoor theme park especially for travelers during hurricane season and it would add to Orlando rather than take away so I kinda do hope this is indoors.

 

[Galaxy Defender]

I think it's imperative to keep expectations in balance, this would be a SeaWorld sized project at 178 acres.

I would expect a thrill ride park with water park and maybe hotel.

 

[Galaxy Defender]

Good point. I just looked at the satellite view and this property is bounded by residential neighborhoods on the south and east. That would make putting an OUTDOOR thrill park there difficult. An indoor park would make more sense and really drive attendance on rainy days. But it does have theme park zoning already.

 

[Disneyhead]

Nickelodeon loves indoor theme parks and hotels.

Bikini Bottom Indoor Water Park for the win!

 

[Galaxy Defender]

Nickelodeon loves indoor theme parks and hotels.

Bikini Bottom Indoor Water Park for the win!

That would be an indoor theme park I would never step a foot in.

 

[Disneyhead]

It is already zoned for theme parks and if it is a major player like Herschend or Cedar Fair, the residents in Tangelo Park won't have a voice. But if the developer put the resort hotel in the vacant plot next to Tangelo Park and the park where Artegon is, then I don't think it would be a problem.

Expect Universal to fight this like a rabid wolverine.

 

[IAmFloridaBorn]

I still remember Orlando Thrill park which I was so amped up about. That neighborhood shut those plans down.
However, with the extension of Grand National Drive does help with the logistical nightmare of the North I Drive Area. I would love to see a new theme park here in Orlando, but I think it would be over-saturation of this park doesn't offer something one cannot get at the current local parks (Such as really tall coasters and extreme thrill rides).

Oh the current lot of the Artegon (Which I still refer to as Festival Bay), I can see another Hotel with convention space, especially with the mall across the street.

 

[quinnmac000]

It is already zoned for theme parks and if it is a major player like Herschend or Cedar Fair, the residents in Tangelo Park won't have a voice. But if the developer put the resort hotel in the vacant plot next to Tangelo Park and the park where Artegon is, then I don't think it would be a problem.

Expect Universal to fight this like a rabid wolverine.

Or to put in a larger bid.

 

[Disneyhead]

I still remember Orlando Thrill park which I was so amped up about. That neighborhood shut those plans down.
However, with the extension of Grand National Drive does help with the logistical nightmare of the North I Drive Area. I would love to see a new theme park here in Orlando, but I think it would be over-saturation of this park doesn't offer something one cannot get at the current local parks (Such as really tall coasters and extreme thrill rides).

Oh the current lot of the Artegon (Which I still refer to as Festival Bay), I can see another Hotel with convention space, especially with the mall across the street.

The Thrill Park fell apart in funding as much as neighbors objections. They hoped to get backers after the announcement, and most investors looked at the plan and said "meh."

Or to put in a larger bid.

This whole thing may be BS just to drive up the price.