Developers for a proposed theme park development in Coachella, California, have said they are confident they can fund the multi-million dollar project.
Aztlán Development, the group behind the plans, wants to build a 200ft (60m) high pyramid, 10,000-capacity concert plaza, 12-screen cinema, rides, a river walk, hotel, restaurants and shops. The Palm Springs-based group is also planning a movie studio and soundstage to entice film production in the area.
Speaking to
The Desert Sun, Aztlan Development CEO, Mark Stuart, said the proposal is “absolutely feasible”, adding that the plan had already received significant investment including an agreement with the Zhongying Investment Group to provide US$20m (€17.6m, £13m) as an equity partner, and US$50m (€44m, £32.5m) from USA Huali United Holding, which specialises in investment banking.
A land ownership group headed by Paula Turner of Desert Pacific Properties has agreed to an 80-year lease on 48 acres (194,000sq m). The first phase will include the theme park, retail area and soundstage, while the second phase will include a 200-bedroom hotel and a cultural museum.
The group itself is made up of architects and operators of successful theme parks and water resorts. Among those included are designers who have worked on the Epcot Center, Disney World, Atlantis Resort in The Bahamas, and Beach Park in Brazil.
At present, Aztlán Development has not submitted a formal request or proposal to the city's Planning Commission, only conceptual plans and renderings. Once plans are formally submitted, it could take the developer up to six months to get city approval.
