I would hope so, because that's close enough to CityWalk, parking, and the hotel areas while still having room for a decent sized park with room for expansion.
Also, while a video game theme park still sounds interesting and like a logical progression from Universal Studios (a mostly movie based park) and Islands of Adventure (a mostly literature based park), I still wonder how much draw a video game theme park would have. I'm assuming there will be large focuses on series like Mario and Pokemon, and that will certainly help, but will stuff like Zelda and Warcraft have huge draw either?