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Land Negotiations Ongoing for $1B Park

LAS VEGAS-A group of former Disney and Universal Studio professionals are negotiating for some 200 acres on Las Vegas Boulevard south of Interstate 215.

By Brian K. Miller | Updated on March 19, 2007

LAS VEGAS-The group of former Disney and Universal Studio executives, designers, architects and engineers have found the site they want for a $1.1-billion destination resort anchored by an indoor snow park and a massive indoor-outdoor water park. The group, Las Vegas Wet LLC, is currently negotiating for the property, a 200-plus-acre site along Las Vegas Boulevard, south of Interstate 215, well south of the famed Strip.

The group isn’t being more specific about the seller of the location, citing confidentiality agreements, but the result will be significant. The proposed site is slightly larger than all of the Disneyland Resort in Anaheim, including both theme parks, all the hotels, retail and parking combined.

“We have exchanged a few counter offers over the past few weeks and we are certain that we’re very close to a workable agreement,” says Las Vegas Wet co-founder Kelly Jo Horton, also co-founder of Proteus Creative, an entertainment development company. “We had originally planned to build on a completely different piece of property, but we had to look elsewhere when it became clear that the property we originally wanted was not big enough to allow for expansion.”

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