Speculation grows over future of Universal’s purchase of 475 acres

Now that Universal Orlando’s owner has all but confirmed the mysterious purchase of 475 acres near the theme park, speculation is growing over what the land might become.

Bill Coan, whose Orlandobased ITEC Entertainment designs and builds attractions for theme parks including Universal, thinks the company might take a less traditional path on the land.

“Nobody should be surprised if they come up with something a little bit more exotic” than a typical theme park, Coan said. “A lot of things going on out there in the world are leaning more towards

interactive entertainment, extreme parks where people are getting into being part of the entertainment.” That trend includes attractions such as surf pools and faux snow-ski mountains, Coan said.

The large acreage near the Orange County Convention Center would provide room for not only a large theme park, but other uses such as entertainment hotels.

Jeff Sachs, a consultant who worked on plans for the area a few years ago, said, “You would hope the site would be planned where the theme park would be back away from the convention center and the resorts would develop along Universal Boulevard.”

Some industry watchers think the vast possibilities unlocked by the purchase could be causing Universal to go back to the drawing board on plans for its property underneath Wet ‘n Wild, which will close later this year. City officials say Universal has submitted no plans for the site.

“Everything has gone silent on that front,” said Robert Niles, editor of ThemeParkInsider.com. “I think it’s now being incorporated into the plans for the larger property rather than being developed on its own, which is smart.”

Universal isn’t talking, except that its owner, Comcast Corp., announced last week that it paid $130 million for land adjacent to one of its theme parks. It didn’t specify which park. Comcast also owns Universal Studios Hollywood, has a majority stake in Universal Studios Japan and has a licensing agreement with a Singapore park.

But the timing and the size match December’s land purchase here by an obscure LLC that sources said was associated with Universal.

“This land, we think, is really a wonderful strategic acquisition,” Comcast Chief Executive Officer Brian Roberts told analysts Wednesday. Development, he said, will be “long-term, down the road.”

When Universal previously owned 1,800 acres in the area that included that land, preliminary plans submitted at one point included a third Universal theme park, 10,000 hotel rooms, 700 timeshare units, a pair of 18-hole golf courses, and more than 2 million square feet of retail space. Thenowner Vivendi Universal sold the land in 2003.

Even on the smaller parcel, Universal would face logistical issues as it plans such massive development. For one thing, the land is separated from Universal’s main resort.

“They have to create some kind of transportation between the two properties that makes it feel like you haven’t left the property,” Niles said.

Roadways would also have to be upgraded significantly, including extending Kirkman Road to Destination Parkway.

Universal would likely develop the property in stages, said Duncan Dickson, associate professor at the University of Central Florida’s Rosen College of Hospitality Management. “They may develop the periphery with hotels and nighttime entertainment stuff and that sort of thing before they even start on a theme park.”

In the short term, the new Universal Boulevard site could probably be used for back-of-the-house operations such as offices and warehouses, observers said.

Universal’s purchase is “the icing on the cake” of a development boom in the area, said James Nashman, managing director of ComTerra Development Group, part of a partnership that recently purchased 20 acres at Universal Boulevard and Destination Parkway. An International Drive resurgence includes a planned expansion of Rosen Shingle Creek, the future Skyplex roller-coaster project, the I-Drive 360 development, and the future Topgolf entertainment complex.

“A lot of that development has created a mass amount of attraction and synergy,” Nashman said.

A committee has been leading a year-long process organized by Orange County to create a vision for the International Drive area as a more pedestrian-friendly destination with a mix of different types of districts.

County planning manager Alberto Vargas, who has led the visioning process, said Universal’s plans should fit in. While an entertainment complex such as a Disney Springs would be ideal, he said recently, a theme park can also work.

Universal, which wasn’t on the committee, had criticized the visioning process before the purchase was complete and had at one point asked the county to halt it.

“Now that they’re part of this, we’re open to hear what they have to say,” Vargas said. “We’re excited.”