Schlitterbahn Corpus Christi – Update 7/10/2012

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Update 7/10/2012 – Island Advisory Meeting

Investors Paul Schexnailder, Willard Hammonds and the Henry family that owns the Schlitterbahn Texas water park chain have been developing the master plan layed out last May. The waterpark resort on Padre Island is about 30 days away from finalizing the capital needed to begin moving forward with construction.

The estimated $41 million resort planned along the west side of Park Road 22 is expected to include a 65-acre water park with lodging, golf and restaurants. This project will be built along side the current Padre Isles Golf Course. We are excited to hear the project is on track with tentative plans to break ground as early as September according to developer Paul Schexnailder.

Schlitterbahn part-owner Jeff Henry previously said the water park would be open by Memorial Day weekend of next year.
There are many pieces of the project — including financing, structural design and proper permitting — that need to fall into place before construction begins, Mr. Schexnailder said.

The city also plans to build a $6.8 million bridge along Park Road 22, which would connect Lake Padre to the residential canal system. This money has been allocated with the leftover 2008 bond money. Even though Schlitterbaun is not dependent on it, Developers have said it is a critical part of the project’s design because it would create a pedestrian waterfront connection along the canal system.

The City continues to obtain environmental permits required to build the bridge, and will maintain continued public input as part of the process this year. The water connection between the canal and lake is expected to improve water quality in the canal system and throught Laguna Madre.

As more information comes out we will be glad to keep you posted, You can assure Coastline Properties will be there when the first shovel hits the sand!!!
UPDATE from 6/12/2012 Padre Island Moon, Dale Rankin

Developer Paul Schexnailder briefed the ISAC on the Schlitterbahn project during their June meeting. He said the park’s design group spent three days last week on the site looking at elevations in preparation for the anticipated beginning of construction in August.

An environmental assessment of the area where a new canal would be dug has been made and contains a maximum of three acres of wetlands which must be mitigated. A meeting is set with the Army Corps of Engineers to access what changes in the existing permits are needed for construction on the east side of Park Road 22 (SPID) in the area around Lake Padre.

He said that once the city is finished with the design for the Park Road 22 Water Exchange Bridge the permitting should be ready to begin digging the canals on the west side of SPID to connect it to the existing Island canal system. The area where the new canal would be dug is on the current site of Padre Isles Country Club and is considered uplands – not wetlands – which makes permitting there quicker.

He also told the ISAC that he expects term sheets from lenders on the project to be in hand within two weeks. Construction on the project has been broken into two projects. The first phase will make the park fully operational and should be complete by summer 2013. Phase II will then begin and will add more features to the park. In Phase I a 5000-foot long Lazy River will be built and in Phase II will be extended to 7000 feet.

Before the Lazy River feature can be built AEP must do site work to prepare for the installation of water pumps, including several 2000 gallon per minute pumps, two 35,000 gpm pumps, and several 20,000 gpm pumps.

He said items still to be determined are where exactly to locate a 70,000 square foot section of the park which will have a retractable roof and will remained open year round, where to locate parking lots, and when/if to shut down holes on the golf course during construction, and how the construction process will effect membership packages at the club.

He said the final design of the park could not be completed until the financial incentive package with the city was in place and that package was finalized only two weeks ago. The plan included no property tax incentive and was made up entirely of sales tax breaks primarily though the Hotel Occupancy Tax, which means plans for Phase I of the project will now include hotels, which would not have been the case if property tax incentives had been used. ~Dale Rankin, Padre Island Moon



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