A long-awaited U.S. theme park is getting underway in Dallas' backyard with a new brand from Universal Destinations & Experiences designed to woo the next generation of amusement-seekers.
Universal Kids Resort is set to become Universal's first theme park that caters to families with young children. Universal, a division of Comcast NBCUniversal, has started work on the theme park in Frisco, Texas, a northern suburb more than 20 miles north of downtown Dallas.
Universal Kids Resort is being built on a 97-acre tract that is part of a larger expansion underway in the United States by one of the nation's largest amusement park developers and operators. The resort is expected to include a 300-room themed hotel.
Universal Creative President Molly Murphy said the company's new kids' resort is being designed to "inspire the unbridled creativity of kids through imagination, discovery and most importantly, play," and help kids and their families become physically immersed in their stories and characters. Universal is able to draw on its stories and franchises with Universal Pictures, Illumination, DreamWorks Animation and other companies. Some of those popular characters include Puss in Boots and the minions from "Despicable Me," according to Universal Pictures' website.
The park, which is being built on a tract east of the Dallas North Tollway and north of Panther Creek Parkway in Frisco, is expected to include family friendly attractions, park rides, interactive shows, character meet-and-greets, as well as themed food and beverage venues.
The park is being designed specifically at a scale for younger kids with a "lush green landscape with a distinctive look," officials said. Construction on the theme park, which already has created more than 2,500 construction jobs, began last month.
The company has begun hiring for roles in human resources, landscaping, marketing, business development and accounting, among other positions at the new Frisco theme park. Universal Kids Resort is expected to be complete by 2026. Additional details on the project, including its cost, have not been disclosed. Universal didn't respond to requests for comment from CoStar News.
The city of Frisco is chipping in on the project, with $12.7 million in economic incentives coming from the city and its economic development arm.
Dennis Speigel, founder and CEO of International Theme Park Services in Cincinnati, who has tracked the amusement park industry for decades, previously told CoStar News the proposed park by Universal in Texas is likely to cost at least $500 million.
Younger Audiences
Universal isn't the only theme park company wanting to cater to a younger audience.
In June, Merlin Entertainments began construction on the new Peppa Pig theme park in the Dallas-Fort Worth region, the nation's fourth-largest metropolitan area with more than 7.8 million residents. Merlin also developed Legoland Parks that cater to younger children, and SeaWorld's Sesame Street Land also seeks to reach that audience.
This move by Universal comes on the heels of Six Flags announcing plans to team up with Cedar Fair Entertainment in a merger expected to help it diversify its North American business. The proposed merger, announced last month, is expected to create an amusement park powerhouse with an enterprise value of $8 billion and a real estate portfolio that includes 42 parks and nine hotels and resorts across the United States, Canada and Mexico, the companies said. The deal is expected to close by mid-2024.
Universal, which had revenue last year topping $7.5 billion, already has big U.S. parks and resorts in California and Florida. This Dallas-area theme park is expected to be its first outside of those two states. The brand also has theme parks in Asia and Spain.