NEWS: Plans coming together for proposed Park City theme park development

NEWS: Plans coming together for proposed Park City theme park development

Post by CoasterKev » Wed, 04 May 2005 08:59:31

Wichita Business Journal

From the May 2, 2005 print edition
Lainie Mazzullo

Developers of a proposed western-style theme park and commercial development
in Park City are meeting today (April 29) for final closing of property for
the project. Prairie Rose Chuckwagon Supper owner Thomas Etheredge, who is
developing the attraction with his wife Cheryl, will meet at Security Title
in Andover to close on a $1.4 million piece of property to be used for Wild
West World. In a separate deal, Kansas hotel owners Neal and Sam Bhula will
close today on land for a hotel, which will sit on 2 acres within the
development. The hotel has yet to be franchised by a national chain.
Etheredge, who owns Prairie Rose Chuckwagon Supper, says the Park City
project could attract more tourists to the area. Jack Whitson, director of
economic development and planning for Park City, says he's been impressed
with Etheredge's due diligence and research. "With developers, you always
have in the back of your mind if you've not worked with them before, 'Can
they pull this off?' " Whitson says. "I have a lot of confidence in Thomas
The funding for the $15 million to $17 million theme park is close to being
secured. Fitraco NV, a Belgium-based financing group, will be in Wichita
Saturday and Sunday to consider financing part of the park. Etheredge says
he's confident Fitraco will decide to finance the project. "We feel very
certain that they're not coming here just for fun," he says.
Plans for Wild West World ultimately include utilizing 130 acres east of
I-135, south of Wichita Greyhound Park on the historic Chisholm Trail in
Park City.
Along with the theme park, the development will consist of about 18, 1-acre
commercial sites along I-135 accessed by the 77th Street exchange. Etheredge
says he's negotiating with major restaurant groups, businesses, an RV Park
and convenience stores. He plans to begin closing on the restaurants within
60 days.
Infrastructure construction for the commercial side is scheduled to start
this summer and be completed by December. Mike Loveland with J.P. Weigand &
Sons is the broker. Work is being done by Baughman & Co. Construction on the
hotel is expected to begin by late 2005.

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NEWS: Plans coming together for proposed Park City theme park development

Post by kevindreyl.. » Wed, 04 May 2005 19:09:16

$17 miilion won't buy you much. I can see like a 100-120 custom steel
coaster from Pax for maybe about $5 million. It will be a nice little
park but $17 million seems tight. But a park like this would go over
well in Phoenix since they don't have anything even of this size yet.