Theme Park Proposed For The Colony

By J.D. Miles and Kent Chapline, CBSDFW.COM

THE COLONY (CBSDFW.COM) – A theme park in The Colony?  It could happen.

The city council agenda for Tuesday night’s meeting lists a proposal for a “1.5 billion dollar” development for “a theme park, hotel, convention center, stores, concessions, restaurants and park facilities.”

The park development would sit on 400 acres along Texas 121.  It would supposedly create tens of thousands of jobs while bringing eight million tourists to The Colony annually.

City officials won’t name the developer.  But Denton Central Appraisal District records show much of the land in question is owned by a transcendental spiritual group that once promised to build the world’s tallest building there.

Years ago, the Maharishi Global Development Fund wanted to build a 1,600 foot tower on the land.

That skyscraper project never happened, and neither did a separate mixed-use development the group later proposed for the same location.  The land is empty now.

This map from the Denton Central Appraisal District’s website shows a portion of the area where the development would lie, along Texas 121 between Spring Creek Parkway and Plano Parkway.  The colored areas of the map on the south side of Texas 121 represent land owned by the fund (click for larger view).

colony land map Theme Park Proposed For The Colony

City officials say the project would not cost taxpayers anything.

Comments

One Comment

  1. tcsucks says:

    TC has sucked for years… Doubt this is going to happen.

    1. fred says:

      Doubt it would ever happen – if something that big was coming, It would go to Frisco or McKinney. If it’s just now being announced, I’ll bet Frico or McKinney will steal it!! Stupid Colony!

      1. Joffey Jacob says:

        ohh please your just jealous cuz yall dont have any land to put something that BIG for your city.

  2. Go Cougars says:

    what a grand idea. just what TC needs so it won’t “suck” anymore ^^^

    1. Alyssa says:

      The colony does not “suck” I happen to love it.
      Different strokes for different folks, if you prefer glitz and glam move next door to Plano.🙂

      1. University Park Snob says:

        Did you just refer to Plain-O as being glamorous? LOL! OK, maybe 15 years ago. Now it’s as boring a suburb as any other.

      2. Alyssa says:

        As a reference to get my point across, yes I did.
        You got the point, did you not?

  3. darrell says:

    what would you call a theme park in TC? Depression World?

    1. C Bauer says:

      How about Mr. Funtime’s Mountain o’ Debt?

  4. KM says:

    I’m sure the city of The Colony will do everything possible to make sure another neighboring city gets it so they can maintain their “sleepy city by the lake” image. We need restaurants and businesses before we can support a theme park and tourists. I’d love to see this happen if it would help the negative stigma attached to TC, and ANYTHING that would raise property values here would be wonderful, but I’m not hopeful. TC has never been one to encourage new business and growth, and unfortunately I don’t see that changing.

  5. CID says:

    sounds like one that was going to be in Grapevine, then Irving, now TC? Curious who would finance this in this economy

  6. tc says:

    My source tells me that The Colony is the only city that does not understand economic development is giving the developer 100% of every penny that project would make for a 100 years. What a great return for the taxpayers who are losing taxable property AND sales tax as well as every other fee. Doubt Frisco, Dallas, Plano, McKinney or any other city in the country would do that.

    1. dd says:

      You need a new source.

    2. gg says:

      Your not realizing that with a big business this brings in money and then you get the tax money fom that…this is HUGE !!!

  7. KC says:

    Seriously? We are so landlocked here in TC with the tollroad, traffic is already bad enough trying to get in or out of the city NOW. Can you imagine trying to get in or out of town on any given day with a huge theme park down the street that is said to bring in 8 million visitors a year?!

  8. Ann Luna says:

    The people who were interviewed were not a representation of The Colony. Not everyone who lives here is broke and living in The Comfort Suites and needs a job at a theme park. There are beautiful lake homes in our safe cozy community and a fun friendly family environment. I saw your truck parked next to the cow field and wondered what was up. The story of a possible theme park is news worthy but please don’t degrade The Colony with your lack of understanding of the entire area. How short sighted.

    1. Christi says:

      Amen to that. TC currently has a very low crime rate. This will just bring that rate up to meet Arlington. Who wants more crime?

  9. dd says:

    It wasn’t short sighted. It was intentional. The entire tone of the story was demeaning.

  10. darrell says:

    first lets be realistic. this is a pipe dream. TC does not have nor does it have the ability to build any of the infra-structure needed to support such a park. the jobs and tourist numbers given are complete fantasy. at best maybe 15% of those numbers. unless the entire facility was domed you would lose four to six months a year to weather. hotel, motel and restuarant facilities would mostly be in other cities giving them the jobs and revenue not TC. getting to and from said theme park would be a nightmare with current and future road masterplans.
    of course this is a great PR stunt if you owned a bunch of worthless land and needed some reason to get the price jacked up so you could sell some of it off.

  11. Wait and See says:

    Same smoke and mirrors. KC and darrell are right. There is absoulty no way to support the traffic flow in this area. This happens about every ten years in The Colony.

  12. Rick McDaniel says:

    This is just government, allowing private enterprise to take profits on the backs of taxpayers, to provide something of little or no benefit, to the taxpayers.

    The citizens should defeat this proposal.

    1. dd says:

      OCCUPY DISNEY!

  13. me says:

    M-I-C…K-E-Y…M-O-U-S-E

  14. Rick Low says:

    The only ones against the project live in Plano. Gee of course you don’t want the project in The Colony. We should all suffer so the Plano folks can enjoy the view from their back yards. You have got to be kidding me. This is good for Texas, Denton County, LISD, The Colony and yes Plano, Frisco and Lewisville. Let’s be real! Plano never cared about The Colony until now. Jobs, jobs, jobs and more jobs. Oh and a giant increase in property values in The Colony.

  15. Rick Low says:

    Does anyone know who contacted TC when Frito Lay, JC Penny, EDS, etc., etc. moved in?

  16. Rick Low says:

    Wow you guys were off. The Colony news is reporting a Warren Buffet, Berkshire Hathaway Company. Hatters!

  17. Pete says:

    I’m excited! The Colony would blow Frisco and Plano off the map! That is if our city council doesn’t blow this.

    1. Angela says:

      Good for The Colony. I’m sure they could use the tax base. They have the space to build.

  18. Rob says:

    The anchor tenant will be Nebraska Furniture Mart (think US based Ikea). The financial structure will actually divert 90% or more of the new revenues to pay for the infrastructure work and other costs associated with the project. The only property values that will go up is the property being rezoned from agricultural to commercial. 90% of the new property taxes and 90% of the sales taxes will go toward paying off all the bonds The Colony will have to borrow. If the project doesn’t succeed, The Colony will be stuck with a lot bonds and no funds to pay.

    The Colony will be on the hook for $740 M of costs through 2019 – if something goes wrong The Colony will be bankrupt ….

    http://laserfiche.thecolonytx.gov/weblink8/0/doc/9526/Electronic.aspx

    1. C Bauer says:

      Basically, The Colony could be Detroit on a much smaller scale if this goes horribly wrong, which it very well could.

    2. Rick Low says:

      Incorrect.

  19. Matt Carson says:

    Blah

  20. Krusty says:

    LOL. All this hoopla reminds me of the “Monorail” episode from The Simpsons.

  21. TNT says:

    The real problem here is the traffic issues, the overall location and the fact that a lot of people have no idea where The Colony is, or think it’s too far away. Once customers encounter the traffic issues, not many will be back. NOT a good idea.

    1. Rick Low says:

      Great idea! WIll benefit Texas, County, Schools, Region, City.

  22. toolong resident says:

    HAHAAAAAA!! I imagine the police force will have to expand fifty fold. How will we every pay for their GED’s???

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