The New Orleans Industrial Development Board (IDB) isreviewing proposals for the development ofaformer Six Flags sitein New Orleans.
New Orleans City Business reports that 227-acre site is currently being bid for by three developers.
Jazzland
$3.26 million has been offered by a division of Paidia Co., Baton Rouge-based TPC-NOLA Inc. The company has joined with retail development company Kimble Development, andhopesto build a retail center at the site.
A new Jazzland theme park and waterpark are also included plan, according to developer Tonya Pope. She explained that developing the long abandoned property would raise the spirits of the New Orleans residents tremendously, noting that this was especially importantafter the area was ravaged by tornadoes last week.
“Neighbors have had to see this property on a daily basis that hasn’t been repaired in over 11 years, and development of this place would give them some hope,” she said.
Pope said theirswas the one with a realistic valuation, as“it does not make good business sense on our end to offer more than the appraised value.”
Transformation Village
A cash offer of $4.55 million was made by developer Frank Scurlock. He has been joined byDanny Rogers, from specialised amusement park building company DreamLanding Ltd, andplans to extend his Transformation Village, at a cost of $120 million. A life-sized replica of Noah's Ark, a seven-star resort hotel and an international shopping center are also planned for the site.Rogers has worked for over 50 years in the entertainment industry, having been CEO of the company Nickelodeon partnered with to build a water and theme park in 2009, Southern Star Amusement. He has also worked at Disneyland and Knott's Berry Farm.
Scurlock's $4.55 million offer also covers a loan the city is still obliged to pay from the U.S. Department of Housing and Urban Development, he says. “We’re basically offering to satisfy that in full.”
Henry Klein
The third potential buyer, Henry Klein, has offered $5.55 million for the development site, although full financing is not yet in place. Klein is the owner ofNew Orleans-based 30/90 management, and also has a law firm based in the state.Pope's is currently the only official offer, as the other two have not yet been made in writing, but the board members have said accepting a bid is based on notjust the money, but on whatever is in the“best interests of the city.”
IDB to consider three offers for former Six Flags theme park | New Orleans CityBusiness
