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NEWS: $500 Million EarthQuest theme park coming to Houston!


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My bad didn't see that haha. Here are some legit links.

 

The lead designer. It's in the in the works section.

http://www.contourentertainment.com/

 

More info from the East Montgomery County Chamer of Commerce

http://www.communitychamberemc.com/index.php/earthquest

 

Earthquest Institute Facebook Page

http://www.facebook.com/search/?q=EarthQuest-Institute&init=quick#/pages/EarthQuest-Institute/224584770416

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  • 6 months later...
  • 7 months later...

News, though not surprising: Park planned to be developed in stages. Theme park will be stage one.

 

http://www.hcnonline.com/articles/2010/11/15/east_montgomery/news/46emcemcid.txt

 

Money holds up EarthQuest; investors want re-phased project

 

Posted: Monday, November 15, 2010 12:00 am | Updated: 9:12 am, Wed Nov 17, 2010.

 

By TIM WILLERT

 

It’s back to the drawing board for the proposed EarthQuest Adventures project.

 

Literally.

 

The developer told East Montgomery County Investment District board members Nov. 10 the 550-acre mixed-use project, which features a 150-acre dinosaur theme park and museum, must be re-packaged and built in phases in order to secure investors.

 

“We don’t know if we can raise $500 million for a green field project in this market,” Marlin Atlantis CEO John Marlin told the board.

 

Which is why Marlin proposed a redesign that is going to require about $200 million less to get started but will make two potential investors happy.

 

One, Guggenheim Partners, a financial services firm based in New York, would be willing to invest between $200 million and $300 million if the project is re-phased, while a second investor, an unidentified Houston group, is close to committing $85 million to the project, Marlin said.

 

“I feel real good about where we are going,” he said. “I am just as confident today that we can get EarthQuest done.”

 

The first phase of the re-design — the dinosaur theme park and museum - will cost approximately $307 million to build, but will begin generating income and attracting other investors, EMCID President and CEO Frank McCrady said.

 

“This is a model that has worked in other theme park developments,” McCrady said. “As an investor, I think it’s more of a wise decision to take the main development and do it first and then add ancillary development.”

 

The EarthQuest Adventures project will be located at Roman Forest Boulevard and U.S. Highway 59.

 

The second phase of development presented to the board, known as Earth Walk, would include a retail development portion. Additional phasing will include a water park, entertainment center component and hotel component as funding becomes available.

 

“The most important thing is the cost of funds for additional development goes down once construction starts,” McCrady said. “If you have a proven project, you abate some of the risk.”

 

That goes for tenants, too, Marlin told the board.

 

“My guess is that by the time the them park is half done, hotels and retailers will show interest,” he said.

 

As for a new timetable, Marlin told the board it likely would be the end of January before a new package can be presented to investors, and another six months beyond that before construction starts.

 

“That’s a reasonable expectation,” McCrady said. “You can pick a date and we’ll be wrong three times.”

 

Contour Entertainment President Christopher Brown, the project’s master planner and lead designer, presented a preliminary re-phase to board members, letting them know that a $500 million vision and a $300 million reality “is a very different thing.”

 

“We’re trying to make the strongest showing we can,” Brown said, “but it won’t all be there on opening day.”

 

And that’s OK with McCrady.

 

“We’d rather break ground on a theme park than wait for everything to get funded at once,” he said. “Our main interest is ensuring that they get the right partner, the right investor, instead of rushing in and going with the wrong investor.”

Edited by larrygator
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  • 2 years later...

http://www.click2houston.com/news/Feds-looking-into-amusement-park-project/-/1735978/18013702/-/pje7k2z/-/index.html

 

The now infamous fading sign along Highway 59 north in New Caney still touts the mega-theme park that has never come. Local 2 Investigates has learned the proposed amusement park is the center of a federal criminal investigation into the government agency that used taxpayer money to fund its development dreams.

 

Last fall, Local 2 Investigates exposed how the East Montgomery County Improvement District (EMCID) spent more than $10 million tax dollars to help develop Earthquest Adventures.

 

Developers said Earthquest would be an environmentally-friendly, bigger and better version of Astroworld -- including rides, a water park and education. EMCID spent millions of dollars on everything from bonds to amusement park trips. EMCID also made large donations to a now defunct non-profit associated with the park and gave more than $500,000 in loans to other groups related to the park. Those loans will likely never be paid back, because the developer went bankrupt and the land for the park was sold.

 

Now, even more tax money is going to attorneys hired because of the federal criminal investigation.

 

"Anything related to that should be responded to by our attorneys," said Frank McCrady, chief executive officer of EMCID.

 

An attorney hired by EMCID said the U.S. Attorney's office in Houston served subpoenas to EMCID's elected officials and employees all regarding Earthquest. Employees of private companies involved with the project also say they've been interviewed by investigators. Neither the FBI nor the U.S. Attorney's office would confirm or deny any investigation.

 

"I had an interview with the people when that all first started," said Chris Brown, president of Contour Entertainment.

 

Brown was once the lead planner and designer of Earthquest Adventures. Now, he's the new developer in charge of the effort to build the amusement park in East Montgomery County.

 

"I'm obviously an optimist. I've been pushing this thing along despite all kinds of challenges and problems since we were originally asked to move it forward," Brown said.

 

During a recent EMCID board meeting, Brown said the Earthquest project is still alive because the financial markets have improved and he believes investors will line up to fund the $500 million idea.

 

The improvement district board voted to give Brown another six months to secure that funding and then buy the land to start the project over again.

 

"I'm very confident this is going to happen," Brown said. "That's why I keep spending money every month, like an idiot. hoping it's going to happen. If we only raise $150 million, we're going to do a project. We want to raise the whole $500 million. I believe we can."

 

"We have a developer who has a mission to accomplish," McCrady said after the meeting. "Certainly, we are very confident and are placing our faith and trust in the reports we're getting back from our consultants."

 

As of Friday, EMCID is not spending any new tax money on the project. The new developer is paying for all the costs associated with the pre-development. If the project breaks ground and gets final approval, Brown said his company would pay back around $8 million to EMCID.

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"I'm very confident this is going to happen," Brown said. "That's why I keep spending money every month, like an idiot. hoping it's going to happen. If we only raise $150 million, we're going to do a project. We want to raise the whole $500 million. I believe we can."

 

I know this project has been talked about since Astroworld (RIP) closed down. Obviously with the Feds investigation on the old developers is not going to help matters. But I still believe Houston is ready for a new theme park (not including Kemah and Galveston Pier which are not theme parks but still fun). At least now its Contour Entertainment who is paying for it all. They probably see the very large market in Houston area equals profit. It be interesting to see what they come up with in a few months.

 

I'm more excited for the small park being built in Texas City. Being that Texas City is maybe 20 minutes away from me. It's supposed to be the son of the original Playland Park in Houston building it. I mean its only going to be 25 acres but that is enough to build a coaster or two with a few other rides. Developers eye and buy land near Tanger

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I drove by the site and saw the billboards they had set up over the winter holiday. I've been following this for quite awhile now but it seems the dates keep getting pushed further and further back. There have been bankruptcies and management changes so I have no clue when if ever it will actually open. No one has posted any of the concept art on here so for those of you who haven't seen yet:

gateway_large.jpg.d2f8114a228f8e319e1f1ac65049bd37.jpg

land_large.jpg.9eea90127ae1d9e20a32076957bc02eb.jpg

timthumb_php.png.9f186087d72f447d5dfc8c34ceed471e.png

sky_large.jpg.26bdcfa19481175dc75d23fbcbbb38fa.jpg

water_large.jpg.52d01d2940e4486bc0609de4470153c8.jpg

Edited by robbalvey
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This is not good!

 

Yeah if they plan to open in 2014 or 2015 they better start working soon. When I've driven by the site it doesn't even seem as if any land has even been cleared yet. It is a very large plot of land though and it would be very nice for the local economy if this park ever opened up. The highway running through the land though is only a few lanes so that is going to be a nightmare unless the widen it. I'm not a huge fan of the whole Eco-friendly theme since I feel it will jsut cost more and add more delays to the park but it would be cool to have the be the "greenest" theme park in america. This is the sign that I was refering to earlier as well:

 

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This is not good!

 

Yeah if they plan to open in 2014 or 2015 they better start working soon. When I've driven by the site it doesn't even seem as if any land has even been cleared yet. It is a very large plot of land though and it would be very nice for the local economy if this park ever opened up. The highway running through the land though is only a few lanes so that is going to be a nightmare unless the widen it. I'm not a huge fan of the whole Eco-friendly theme since I feel it will jsut cost more and add more delays to the park but it would be cool to have the be the "greenest" theme park in america. This is the sign that I was refering to earlier as well:

 

 

Yeah...there's really no way that the park could open by next year, let alone the next three years. Considering that the project is being federally investigated for misuse of funds, I doubt any investors will want to give them money. This project is pretty much dead.

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Considering that the project is being federally investigated for misuse of funds, I doubt any investors will want to give them money. This project is pretty much dead.

 

Yeah, that sounds as close to a sure thing as you can get.

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http://www.yourhoustonnews.com/tomball/news/two-theme-parks-for-east-montgomery-county-emcid-talks-with/article_09eb8f84-5cfc-11e2-8c5c-0019bb2963f4.html

 

Residents in the East Montgomery County area may see an additional theme park known as the Grand Texas Theme Park.

 

The website for the park along with numerous attractions and entertainment including thrill rides, a water park feature, shopping and dining is developed for potential guests to see what is available but with no location yet.

 

The organizers for the Grand Texas Theme Park recently met with the East Montgomery County Improvement District to scope out a plat of land near U.S. Highway 59 in East Montgomery County near the EarthQuest location.

 

They are also looking at two other possible locations for the theme park including one other in Montgomery County.

 

“The Grand Texas Theme Park is a smaller-type theme park which would be a great second park for guests to enjoy along with EarthQuest. The developers for this theme park are having difficulties finding a site for the park. They inquired about property in the EMCID area and they were impressed,” Frank McCrady, president of the EMCID board, said.

 

Board members agreed to sign a letter of intent with the Grand Texas Theme Park at their Jan. 10 board meeting which thanks them for site-seeing property in the district and encourages them to consider settling in East Montgomery County.

 

The letter of intent is at no cost to taxpayers since it is just a letter sent to the developers of the Grand Texas Theme Park but McCrady added the tax base would be great for the district and if they are high-performing, the developers will get money back on their investment into the county as well.

 

The developers anticipate attendance to be 650,000 a year to visit their various attractions and a $150-$180 million project.

 

“A main goal of EMCID is to drive tourism to our area which will benefit all of the businesses in our community as well because families will travel to the area and go to the restaurants and stay at the hotels,” McCrady added.

 

“The addition of a second theme park will give families a reason to stay a night or two at our hotels. We are excited about the possibilities of this coming to our community.”

 

Developers for the Grand Texas Theme Park are expected to make a presentation at EMCID’s Feb. 14 meeting at 5:30 p.m.

 

What about EarthQuest?

 

The developers of EarthQuest, Contour Entertainment, made a presentation to the EMCID board at their December meeting showing that they are progressing along.

 

EMCID required for Contour Entertainment to meet three requirements including hiring a qualified investment firm, purchase the land where EarthQuest is set to be situated and present an investment package proposal detailing fundraising and efforts leading them to meet their financial goal.

 

“We are hopeful with all of the progress that has been made with Contour Entertainment. They have hired the investment firm, Stern Brothers & Co., which is a great sign because of a firm would not put their name to a project is it could not be successful,” McCrady added.

 

The land where EarthQuest will be and the surrounding properties were purchased for $11.85 million by Friendswood Development in April of 2012.

 

According to McCrady, Contour Entertainment has signed an exclusive agreement with Friendswood which allows Contour to have control of the land through December 2013.

 

As they continue to progress, this is at no cost to EMCID as Contour moves ahead with the third requirements of fundraising.

 

Chris Brown, the chief executive officer for Contour Entertainment, is expected to bring an update about the fundraising efforts and potential investor contracts to the EMCID March board meeting.

 

“We are very positive with the steps that are being taken by Contour Entertainment to make EarthQuest become a reality for the community. It is exciting,” McCrady said.

 

For more information about the Grand Texas Theme Park, log on to http://www.grandtexas.net/grandtexasthemepark.

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I've heard about Grand Texas Theme Park before. I thought it was supposed to be built in the Woodland area of Houston a few years ago. Very wishful thinking but how crazy would it be if we got Earthquest, Grand Texas and the Playland Park in Houston. I think these companies realized Houston is hungry for a theme park. In a few years, both airports in Houston are going to be International as well. Ugh, I'm just tired of reading about it and would like to see some bulldozers.

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I'm never get particularly interested in any announced project until they break ground for it--and even then, it's not necessarily a sure thing.

 

Agreed. Wonder if anyone has kept track of how many attractions have been proposed verses how many actually get built.

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Earthquest has become a bit of a punchline in Texas. That said, if new developer Chris Brown and Contour entertainment can secure the funding, there could still be a chance that the park could see the light of day, though they should probably look at a smaller initial investment. Maybe phasing the project in. From what I understand they have until the end of the year to secure the investor funding, and will have to offer a project update to the county in March. Though $500 million seems hugely unrealistic and optimistic.

 

I doubt this park will ever see the light of day, but I've been wrong before, so we'll see.

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