Friday, February 24, 2012

EarthQuest

Earthquest

Back in 2005, Six Flags Corporation closed AstroWorld.

That same year real estate investor John Marlin of Dallas made a big stir in the New Caney area when bought land about 30 minutes north of downtown Houston;  land  that he planned on turning into the area's next  big theme park.

He called it called EarthQuest, and he envisioned an ecology-based park that would provide education along with a healthy dose of Disney-style entertainment.

But now the fate of Marlin's 1,564-acre tract in Montgomery County that he planned to use for the 500-acre theme park and 1,064-acre residential development will be decided by a U.S. bankruptcy court in Sherman on March 5.  Marlin heads Whitestone Houston Land, LTD., which filed for the Chapter 11 bankruptcy protection.

Two groups that had been working closely with Marlin in pursuit of the theme park – the East Montgomery County Improvement District and Contour Entertainment - are joining forces to try to buy the land and establish a new developer.

The court has set a minimum purchase price of $10 million, which is about half what Marlin originally paid for the land that straddles U.S. 59 near New Caney. Completion of the project is estimated to cost about $500 million.

"While not a good public relations move, the bankruptcy sale brings the price down. It could save a substantial amount of money for the project," said Frank McCardy, the improvement district's CEO.

The district, started in 1994 to improve the area's quality of life and create jobs, retains ownership of the park's conceptual and site engineering drawings, which the district purchased for $7.5 million in bond money. The district has also spent an additional $2.5 million on legal and other efforts to move the long-delayed project forward - all of which are being repaid through the district's 1.5-cent sales tax, he said.

McCardy would like to see Chris Brown, president of Contour Entertainment, act as an assistant developer with funding coming from outside backers.

Contour Entertainment of Van Nuys, Calif., designed the conceptual drawings for the park. It would be seven times larger than AstroWorld, with 50 attractions that stress environmental stewardship. This would include such things as a 12-acre water park made from a retreating glacier to an animal park that includes threatened species and a ride through a land with a fiery volcano and life-sized dinosaurs.

Earthquest 2

Brown, an ex-Disney designer, has the experience necessary, as his company continues to design projects for Disney as well as a new theme park that he says is opening this year in Mumbai, India.

McCardy and Brown believe the financial climate is improving and they are in active discussions with potential developers who would be able to write the check, but they said they could not disclose the names.

McCardy said he feels good about the project because three theme-park experts have said this spot has perfect demographics. Houston is the only one of the 11 largest U.S. cities without a theme park. Major theme parks are located on each coast but not the central U.S., 18 million people live within a four-hour drive of the site and Houston has a young population with one of the strongest economies.

But with all the false starts, spurts and delays, many area residents are skeptical about it ever being built.

 

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