Search
 

State Votes to Buy Cypress Development Rights

WINTER HAVEN, FL-Gov. Jeb Bush and his cabinet place the shuttered, 67-year-old, 230-acre outdoor water-themed attraction on the Florida Forever projects list--but The Trust for Public Land of Washington, DC beats two private developers to the draw by secretly contracting to buy 107 acres of the 176-acre park for an estimated $8 million from the owner, First Gardens LC.

By Alex Finkelstein | Updated on September 02, 2003

WINTER HAVEN, FL-For profit or non-profit–that’s the crucial issue involved in the pending sale of Cypress Gardens, a 67-year-old, 176-acre internationally known, water-themed attraction here, 60 miles south of Downtown Orlando. The park closed April 13 after attendance had fallen to about 150,000 per year.

Backing a non-profit enterprise, Gov. Jeb Bush and his three-member cabinet have voted to place the shuttered park on the Florida Forever projects list and provide funds to buy the development rights for the 176 acres, but not the actual park.

That’s the latest action in the four-month-old negotiations between at least two well-known developers and other so-far unidentified buyer prospects, Polk County area brokers tell GlobeSt.com.

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM digital member, you’ll receive:

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 1 free article* every 30 days across the ALM subscription network
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?

NOT FOR REPRINT

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.

GlobeSt

Join GlobeSt

Don't miss crucial news and insights you need to make informed commercial real estate decisions. Join GlobeSt.com now!

  • Free unlimited access to GlobeSt.com's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.
  • Exclusive discounts on ALM and GlobeSt events.
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com.

Already have an account? Sign In Now
Join GlobeSt

Copyright © 2024 ALM Global, LLC. All Rights Reserved.