Next Six Flags park to go: Elitch Gardens

SFI will start marketing park at $170 million

August 8, 2006 - Spaminacan11

Six Flags Elitch Gardens, Denver, CO, USA - Six Flags Inc. announced this week that Six Flags Elitch Gardens, in Denver, will be put up for sale. A couple months ago, SFI stated that they were considering the selling Six Flags Elitch Gardens, along with a few other Six Flags properties. While it is no surprise that Elitch Gardens is being sold, the price it is up for is.

The owner of the Denver park is attempting to get $170 million for the 75-acre property. Former owners bought the Elitch property for $6.1 million back in 1994. One of Denver's Fuller Real Estate said that the number is mind-boggling, but may be worth it.

The city of Denver would like the property to remain as an amusement park, but that idea is getting mixed reviews.

"The city invested more than $30 million in getting that property redeveloped for Elitch's," said John Huggins, Denver's director of economic development. "We're not particularly interested in having the property developed for a different use."

With the property being zoned for just amusement park, redevelopment for anything else would take a hefty amount of work, and the property would have to be rezoned.

Developer Susan Powers stated that she doesn't think that the Elitch property being used for residential use would be such a great idea due to the amount of noise and traffic in that area recieved from the near by the Pepsi Center and the City Lights Pavilion concert venue.

"It feels like everything on that side of Speer Boulevard is really entertainment-oriented," she said.

The park could still be sold to another park operator. This would make the Denver Metro Convention & Visitors Bureau happy. Elitch Gardens is Denver metro area's fifth-most-popular paid tourist attraction, according to Longwoods International, a marketing research firm.

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