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Hard Rock / Freestyle Music Park Discussion Thread


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This thing just doesnt want to die!!!!

 

www.thesunnews.com/2011/02/08/1968407/coastal-business-freestyle-attorney.html

 

Coastal business | Freestyle Music Park attorney sees better market

 

Coastal Business

 

HORRY COUNTY

 

Freestyle attorney sees better market

The chances of Freestyle Music Park being sold out of foreclosure are improving as the economy and real estate market get better along the Grand Strand, said Nate Fata, an attorney for FPI MB Entertainment LLC, owner of the park.

 

"Everything is starting to level out. I see a lot more building in the area," Fata said. "I think that it helps everyone that has land issues. ... Hopefully, that will spur some interest and get things moving this year."

 

FPI MB is looking for "a positive resolution," Fata said, but he did not comment on whether his client was actively searching for a buyer.

 

Fata's remarks followed a hearing Monday morning in Horry County court regarding a suit brought by RoundBox Advisors LLC, a consulting company that previously worked with the park. RoundBox is seeking damages from the park in a suit that is one of at least 10 cases against FPI MB pending in court.

 

Freestyle, which took over the bankrupt Hard Rock Park in 2009, operated for one summer but failed to reopen in 2010 after a rough first season. The park is off U.S. 501 in Fantasy Harbour.

 

Read more: http://www.thesunnews.com/2011/02/08/1968407/coastal-business-freestyle-attorney.html#ixzz1E2H82nk0

 

 

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^^I think that's the only way this gets sold, or maybe if someone is interested in the land and may be able to sell off the rides. I can't imagine anyone will want to run the park as is seeing how poorly it did over 2 seasons with both previous owners giving up after 1 year.

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So, yeah, I'm thinking it's the same company, or at least part of the company, but check out the other investors:

 

FPI MB Entertainment is comprised of Freestyle Park International, a division of MT Development of Moscow; Roundbox Advisors; and a group of local Myrtle Beach investors.

 

From this: http://www.vindy.com/news/2009/may/03/freestyle-music-park/

 

Seems like a huge scam to me.

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That setup is typical to protecting yourself. Obviously it sounds like the groups knew that they would be very protected if the park failed though, which is sad. As it really does sound like this was more done on purpose instead of trying to protect them from an unknown. With all the mortgage fraud going on in this country, and no one really getting in trouble, I doubt anything bad will happen to the owners.

 

As an example if you are a developer, you have your Developer LLC. And when you develop a property, that generally uses an address with LLC, like 123 Fake Street LLC. Civil Engineer over here who is about to start my second LLC for engineering and about to start another LLC for buying property.

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  • 4 weeks later...

Screamscape:

(3/25/11) I’m not sure if there is anything to this or not, but a new rumor has been floating around Myrtle Beach claiming that there may be talks taking place with a possible new looking to buy Freestyle Music Park. While I don’t have any solid evidence as to who it may be, one source suggests that it could be the new owners of the Myrtle Waves waterpark, which is now owned by PARC Management. More as I find out...

*Sigh* This is starting to get old. Here we go again.

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This park is like a cockroach... you kind of just want it to die, and it never EVER does. Anyone willing to invest in this is STUPID, and it should DIE. Seriously... if someone buys this I will have pretty much lost faith in intelligent life.

 

But then again.. you could possibly feel stupid if someone did buy it and turned it around into a thriving business?

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I know many if not all of you will probably disagree with me, but I feel like this park could be a success if things are done right, especially if someone local with common sense bought it who knows what the tourists want in the area. Low ticket prices (or even free admission with wristbands or tickets), good advertising, public transportation from the beach to the park, deals with hotels that aren't a ripoff, a reasonable season pass price, and a few more thrill & kiddie rides come to mind! Another thing that would have to be done would be to turn the place into an amusement park and not a theme park...

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How is it stupid at all to buy a park with a large B&M coaster, great foundations, and several other solid coasters as well? Sure, the last owners didn't have what it took to make the park successful, but it's not like there haven't been worse parks that haven't been turned around. The park is far from doomed.

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I know many if not all of you will probably disagree with me, but I feel like this park could be a success if things are done right, especially if someone local with common sense bought it who knows what the tourists want in the area. Another thing that would have to be done would be to turn the place into a golf course, not a theme park...

Fixed.

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