NEW ORLEANS, La. – The master plan to revitalize the former site of Six Flags New Orleans amusement park, which was destroyed by Hurricane Katrina in 2005, has been approved.
The New Orleans Redevelopment Authority has given the thumbs up to the plan from Bayou Phoenix, which will include several hotels, a water park, a movie studio, and sports fields.
As reported by Nola.com, the approval clears the way for a group lease for the 227-acre property, which would give Bayou Phoenix access to the land. This would lead to preparation to make the lands viable again, including wetlands mitigation and destruction of the remaining amusement park attractions that remain standing.
According to the article, redevelopment of the crumbling Six Flags site has gone through a number of iterations and faced several delays over the past decade.
The developers behind the project have stated they expect 20 percent of the overall cost to come from city, state, and federal governments, which could mean at least $100 million in taxpayer funding, Nola.com reports. The overall cost of the project has been estimated between $500 million to $1 billion, but developers say those numbers could increase in later stages of design.
During the meeting where the master plan was approved, Troy Henry, a representative of Bayou Phoenix, said he believes because the land and infrastructure will be owned by a public entity, the level of public investment makes sense.
