ST. GEORGE – City officials discussed the potential sale of a 13-acre parcel of land behind the Dixie Center St. George for $6.1 million which could be developed into a water park or other entertainment-centered ventures.
The St. George City Council discussed terms and conditions of a possible purchase agreement between the city and Island Trading Company Thursday. The agreement would allow the group to put a 10 percent down payment on the property with a 4 percent interest rate over the next 25 years.
The property is zoned for commercial development with “pages and pages” of allowable uses, City Manager Gary Esplin said. However, the purchase agreement may remove some of the permitted uses in order to make sure whatever is built on the property benefits the nearby convention center and the surrounding area.
The 13-acre parcel is located east of the Dixie Center St. George and is situated along 270 East coming off the east side of the Dixie Drive Interstate 15 interchange. Located to the north of the property across 1670 South is an additional 2.7-acre parcel that Island Training Company has also expressed interest in purchasing.
The agreement gives Island Trading Company 90 days to study out the best use of the property and to determine if their plans for the plot are viable.
Shayne Barney, a real estate broker representing the group, said it may not take his clients long to agree to the deal and get something rolling.
“The people I represent have put a lot of time and effort into this,” Barney said.
Among the possible uses for the property proposed by Island Trading Company is a potential water park, or restaurants and other hospitality-related businesses.
Island Trading Company recently formed and consists of people with a strong development background, Barney said. Money for the project is coming from outside the area, he said, though it is hoped that the project will gain local backers as well.
Barney said there are potential risks in creating a water park and Island Trading Company will consider how feasible the idea is before committing to it.
“No one’s done a water park (in St. George) yet,” he said.
If the water park idea doesn’t work, Barney said the group would still likely move ahead with a project relating to family entertainment.
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