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Event News Grapevine approves incentives for waterpark resort

Grapevine approves incentives for waterpark resort

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The Grapevine City Council unanimously approved an incentive package for Stand Rock Hospitality to build Phase One of a 1,020-room resort with 190,000 square-feet of entertainment space including indoor and outdoor waterparks, an arcade, mini-golf, laser tag, rock climbing, spa, multiple dining outlets and meeting space.

Phase One will include 420 guest suites in a variety of configurations and styles, 170,000 square feet of indoor and outdoor waterpark amenities, and a 20,000 square-foot family entertainment center for a combined total project cost of $170 million. Future phases of construction will add 200 vacation ownership hotel condominium units, 400 additional guest suites and waterpark expansion for total project cost of approximately $330 million. Construction is scheduled to begin in early to mid-2017.

The property is located on 33 acres of Grapevine’s 185 acre development which is adjacent to Grapevine Mills, Bass Pro Outdoor World, Legoland Discovery Center, Sea Life Grapevine Aquarium, the recently-opened Round One Entertainment and the recently-announced Fieldhouse USA.

Upon completion, the new property will create more than 1,000 jobs annually in the Grapevine area. During the construction phase, more than1,500 jobs will be created and the community is expected to see $157 million in direct and indirect economic impact, including all types of spending by construction workers and material suppliers within the community with real estate services, retail, food service, health care and more. Upon completion, the property is expected to have an economic impact of more than $100 million in direct and indirect or induced economic impact to the county and region in its first year of operation.

“We are very excited to be working with the City of Grapevine and announce the development of a world-class indoor/outdoor waterpark resort,” said Pete Helland, managing partner of Stand Rock Hospitality. “The addition of this first rate indoor waterpark resort will further benefit the area through pre-and post-opening job creation, hotel tax, and additional visitors and drawing additional tourism dollars to the area that further support surrounding businesses.”

“Grapevine is thrilled to welcome Stand Rock Hospitality as our newest community partner and as a key player in our tourism industry,” said Grapevine Mayor William D. Tate. “We look forward to a long and exciting relationship and welcoming additional guests to Grapevine at this outstanding resort.”

The Stand Rock Hospitality development will be the third waterpark resort in Grapevine, joining Great Wolf Lodge and Gaylord Texan Resort’s Paradise Springs.

The developer and management company, Stand Rock Hospitality, has a long and successful legacy in the hotel and indoor and outdoor waterpark and entertainment industry. Based in Wisconsin Dells, Wis., Stand Rock Hospitality’s ownership group has been involved in several waterpark projects, including America’s Largest Outdoor Waterpark, Noah’s Ark, and developments in Tennessee and the Pocono Mountains in Pennsylvania.

www.standrockhospitality.com

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