In 2003, Universal Orlando sold over 1,800 acres of property after its big purchase from Lockheed Martin in 1998. The resort planned to use the land to open a third theme park, 10,000 hotel rooms, 700 time-share units, two 18-hole golf courses, and over 2 million square feet of retail space. This envision was lost when the property was sold to a Georgia developer because of the work and money needed to clean the land that was left littered with missile debris and toxic waste from missile tests by Lockheed Martin, an aerospace company. Though the idea may seem lost, it may be somewhat rising from its grave; the theme park resort giant now owned by Comcast is interested in purchasing 474-acres of land along Universal Boulevard.
The property Universal is now interested in purchasing is currently owned by Colony Capital LLC., a California-based private equity firm, after a foreclosure from the previous owner. The 474-acre property is large enough to construct a brand new theme park or even two new theme parks as Universal Studios Florida and Universal’s Islands of Adventure are both around 100 acres large but according to speculation, however, the resort seems to be interested in only constructing one new park. The additional land would likely be occupied by new hotels and retail. Universal has made no comment about these reports.
If Universal Orlando takes charge of the 400+ acre property located just a few miles south of its theme parks, it would allow for them to compete more aggressively with local theme parks such as the Walt Disney World Resort. According to the Orlando Sentinel, Universal Orlando currently has a contract on the property.
Though the resort has not announced if they will construct a new theme park or even if they will purchase the land, rumors have been spurring around for years about a third theme park. Some claim a video game theme park is on the way while others claim a sci-fi theme park is in its early stages of development. None of this can be confirmed but it’s highly likely that Comcast, the parent company of Universal, will empty its pockets to purchase land for its growing resort because if not, Universal Orlando will be left with little to no room for further development on its current locked property.
The blue circle on the above map indicates most of the property Universal Orlando currently owns while the green circle indicates much of the land they plan to purchase.
UPDATE: Universal Orlando reportedly purchased 450-plus acres of property. Click here to learn more.
DISCLAIMER: This article is tagged as a rumor. Please be aware that the information in this report can change or may not have been planned at all. Attraction Insight shall not be held accountable for the accuracy of any rumors.
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