Earth Quest Adventures

[Mister X]

Now HERE is an article worthy of re-linking across the internet...

 

http://www.yourhoustonnews.com/cleveland/news/earthquest-developers-plan-to-close-on-land-in-june/article_24b139fa-e3a1-5f49-a47d-bb2326f953ef.html

 

"Representatives from Contour Entertainment, the developers of EarthQuest, continue to meet with financial groups to secure funding for the park; they plan to officially close on the land in June."

 

“We are pleased with the discussions and the comments Contour Entertainment had about EarthQuest during our meeting with them March 18. They will close on the land in June and with the agreement, they will pay us back. We are just one step closer to EarthQuest,” McCrady said.

 

Not quite the bleak scenario that the previous 'article' painted.

[Nate99]

They are still meeting with groups to secure funding, yet can definitively say they will close in three months? 

 

I'll believe it when I see it, wish it no ill, but Astroworld failed for a reason. A more narrowly focused product up in the sticks sounds, to my ear, less profitable. 

[Mister X]

The article says they have some investors, but not a main investor at this time. Maybe they have enough investor money to close on the land, but not enough to build the entire park to the original plans at this time. The article says 'plan' to close, not 'definitively' close. So just keep it in perspective. That is what the Grand Texas people are saying about their project too.

 

Still, if Contour is able to close on the land in June, that will be the best news that we have gotten about this project in a long time. I believe things when I see them too, but with Chris Brown of Contour and representatives from Contour's investment firm (Stern Brothers & Co.) at least attending EMCID meetings on a regular basis now to give updates on the project to the public and EMCID board, you can at least take comfort that this project is moving forward.

 

According to reports, Chris Brown insist that one way or another they WILL build a theme park on that land. They want to build the entire $500 million version, but he has said he will build in phases for less initial investment if he has to. I personally like the sound of that. I can only hope that it's true.

 

The project obviously stalled last year when Marlin/Atlantis (the park's original developer) went bankrupt but since then Contour has met every new deadline and restructuring mandates that were given to them by the EMCID board in order to keep the project alive. Things appear to be going exactly the way they are supposed to be going at this time. 

 

Just about every major successful theme park in this nation is built at least 20 miles from major population centers, AstroWorld was one of the few exceptions. It's proximity to the inner city was actually one of the causes of it's closure.

 

This has been well documented and everyone in the theme park industry is well aware that the Six Flags Corporate managers closed AstroWorld in a misguided attempt to raise quick cash from the land sales to try to save their company from bankruptcy. AstroWorld always made a moderate profit. But the Six Flags decision makers believed the inner city land that AstroWorld was built on was more valuable than it actually was. I understand that all the persons who had anything to do with that decision no longer work for Six Flags.

 

I really believe that Chris Brown and Contour Entertainment would not be risking their very good reputation by investing time and money into EarthQuest if they didn't think the project was going to be successful. They just did a new updated market research report (one of the requirements from the EMCID when Contour took over the project) and from the info I got, it was determined that market conditions have only improved the chances for success since the project was first announced.  It probably has something to do with Houston's population explosion and booming economy.

 

Now, bring on the cartoons... I may be speaking to a cloud, but I'm not yelling this time.

[Trae]

They are still meeting with groups to secure funding, yet can definitively say they will close in three months?

I'll believe it when I see it, wish it no ill, but Astroworld failed for a reason. A more narrowly focused product up in the sticks sounds, to my ear, less profitable.

And that reason definitely wasn't attendance.

[Nate99]

And that reason definitely wasn't attendance.

 

It was profitability, at least when compared with the perceived opportunity cost of the land it was on.  It was worth more dead than alive. 

 

Maybe cheap land up in Montgomery County and a low cost of financing will make the difference for a theme park business model to work in greater Houston, but I remain skeptical and open to being proven wrong. Successful private ventures are always a good thing in my book. 

 

To the extent any tax payers are on the hook for this thing, I hope it goes down in flames before that has a chance to become binding. 

[Mister X]

Taxpayers are already on the hook for this thing to the extent they will ever be. Taxpayer money has already been spent (years ago) to develop EQ. If the project dies now, so does any chance of EVER getting that money back. From this point forward it is all up to Contour and their investors. The EMCID is not spending another dime on this project. In fact, in order for it to move forward Contour had to agree to repay the EMCID back EVERY cent they ever invested - which they agreed to do. -But that only happens IF the park is built.

 

Remain skeptical if you want to, Nate. They certainly still have a long way to go before they break ground, but there is no question that this project is in better shape today than it ever was. Especially now that closing on the property is finally in site.

 

It is common knowledge that Six Flags never got anything near what they were asking for the AstroWorld property. The land has been vacant for 8 years. Now instead of having the entire state of Texas in their back pocket, Six Flags is going to get some major competition one day. The Six Flags management team that replaced the ones who closed AstroWorld publicly said it was a 'mistake' to close AstroWorld and that they would not have closed the park if it was their decision. To the new Six Flags management, AstroWorld was worth more to them ALIVE, but it was too late. Six Flags filed for bankruptcy protection anyway.

[Nate99]

Taxpayers are already on the hook for this thing to the extent they will ever be. Taxpayer money has already been spent (years ago) to develop EQ. If the project dies now, so does any chance of EVER getting that money back. From this point forward it is all up to Contour and their investors. The EMCID is not spending another dime on this project. In fact, in order for it to move forward Contour had to agree to repay the EMCID back EVERY cent they ever invested - which they agreed to do.

 

Remain skeptical if you want to, Nate. They certainly still have a long way to go before they break ground, but there is no question that this project is in better shape today than it ever was. Especially now that closing on the property is finally in site.

 

It is common knowledge that Six Flags never got anything near what they were asking for the AstroWorld property. The land has been vacant for 8 years. Now instead of having the entire state of Texas in their back pocket, Six Flags is going to get some major competition one day. The Six Flags management team that replaced the ones who closed AstroWorld publicly said it was a 'mistake' to close AstroWorld and that they would not have closed the park if it was their decision. To the new Six Flags management, AstroWorld was worth more to them ALIVE, but it was too late. Six Flags filed for bankruptcy protection anyway.

 

If the cost is sunk, then full speed ahead with best wishes from me. 

 

Was AstroWorld cash flow positive toward the end? My latest experiences there were not good, though earlier memories were. This left an impression that theme parks were a losing bet here, that could be entirely wrong on my part.

 

What has Contour developed previously? 

[Pleak]

The problem with Astroworld wasn't Astroworld - it was a Six Flags problem.

 

A small company amusement parks company (Premier Parks I think) from Oklahoma took over a much bigger one in the late 90's/early 2000's. (Six Flags).  They did this by borrowing gobs of cheap debt.  Then they bought a bunch more parks over seas  - there was a Six Flags Holland, etc.  and domestically - Jazzland etc.   All financed by cheap debt.    

 

Problem with cheap debt is you have to pay it back eventually.   Cash flow got tight.   Oops.   Stopped investing in parks and new rides (this is why Astroworld seemed to go downhill towards the end - cash flow cruch at the parent company) 

 

So what can we sell?    Sold off the foreign parks.  Wasn't enough.   Then what parks - Well Astroworld is close in to town - has to be worth a lot to a developer - right?   Well we all know how that worked out.

 

Astroworld was done in by poor corporate management and neglect due to parent company issues.

[livincinco]

I don't think Astroworld is a good comparison because Astroworld was a park that was designed to pull a local audience. Earthquest seems like it's designed to draw a wider audience because of its uniqueness. In that case, I think that the potential development of Grand Texas is a huge plus towards this happening, because that makes the area a potential multi day destination.

[Mister X]

From a Parker Brothers business standpoint, the loss of AstroWorld was like watching a bad, immature Monopoly player who is dangerously short on cash and who owns St. Charles Place with 3 houses on it, with no clear knowledge of it's value, decide to mortgage all the houses and sell the deed for 1/4 of the value even though he still owns Virginia Ave and States Ave. So what - if there is a Chance Card that directs people to go to St. Charles Place, increasing your odds that someone will land on it. So what - if your odds are also increased that people will land on St. Charles Place because of its proximity to the jail and that a smart player knows that everyone lands in jail on a regular basis which usually keeps you covered in cash if you don't panic in bad times.

 

The lesson: NEVER sell St. Charles Place! AstroWorld was St. Charles Place. Not the most expensive, property on the board or capable of the highest windfalls or in the most desirable neighborhood, but it is always a cash cow, and guaranteed steady income if you are lucky enough to also get control of all the maroon properties (which Six Flags Corp had) and smart enough to build a hotel as quickly as possible (which Six Flags Corp was not).

 

EarthQuest has the potential to be Boardwalk, IMO, and that is why I want Houston to not give up the game until we control it. -and it's still for sale!

 

I'm not sure what Grand Texas will be yet. It might start out as Vermont Ave and be traded up for something better in the future if it gets lucky or is controlled by a skilled player.

 

The new Playland Park in Texas City looks strictly Baltic Ave, but that has some value too, if you can get a hotel on it.

 

Check out the Contour website to see the other projects they've done. It's fun.

[citykid09]

Here is an idea, why don't all of the people proposing theme parks around Houston come togeather with all of there ideas and build a mega themepark at the EarthQuest site (Orlando style). This way at least EarthQuest gets built.

[Soapboxmom]

The latest article:

 

http://ourtribune.com/article.php?id=14971

 

 

[Hugh Stone]

 

If they build in phases or downsize the master plan,  I hope they don't cut out this section. It's supposed to have animal attractions, which would be like having another zoo in the Houston area.

[Soapboxmom]

http://www.ourtribune.com/article.php?id=15441

"No cash on hand"  <sigh> 

But.....
http://www.ourtribune.com/article.php?id=15498

Go Grand Texas!!!!

[TowerSpotter]

It's not really an exciting update but this project is certainly not dead, it's not "if" its going to happen it is "when" its going to happen.

 

http://www.yourhoustonnews.com/atascocita/news/construction-projects-continues-to-progress-in-east-montgomery-county/article_924305f8-82ca-5f9b-bfb8-3dbb15b9abad.html

 

 

 

EMCID President Frank McCrady commented that there were no current updates on the development and that developers are still working to secure financing for the park.

 

[Soapboxmom]

The option for the Earthquest developers to repurchase the property from Friendswood as outlined in the bankruptcy docs expires in 14 weeks on December 15,2013.  We are down to the wire.

[Urbannizer]

More renderings/sketches, even though this may no longer be the design..

 

 

 

 

 

 

 

 

http://www.bararch.com/project/earthquest-institute

[Houston?]

When will this thing kick off?

[TowerSpotter]

When will this thing kick off?

 

There is no official start date yet, final word on the project I believe is in December.

[Houston?]

Thanks! I hope it gets built.

[Soapboxmom]

http://houston.culturemap.com/news/city_life/11-07-13-the-new-astroworld-sets-an-opening-date-houstons-next-theme-park-to-blast-off-in-2015/?utm_source=sf_twitter

 

Grand Texas is going great guns! 

[TowerSpotter]

http://houston.culturemap.com/news/city_life/11-07-13-the-new-astroworld-sets-an-opening-date-houstons-next-theme-park-to-blast-off-in-2015/?utm_source=sf_twitter

 

Grand Texas is going great guns! 

 

Here is the thread for that one.

 

http://www.houstonarchitecture.com/haif/topic/27694-grand-texas-theme-park-new-caney/page-3

[Earthquest Lives]

From the beginning the EMCID board was aware that this project would take between 8-10 years to come to fruition. It is progressing well. The developer Chris Brown is being cautious but making great progress in finding the multiple funding sources required for this project. I believe the project will get bigger rather than not happen. I am sure the next few months of progress should confirm this project is alive and going to happen, contrary to all the negative media. The private sector does not discuss such things with the media until they are sure of their results. No news does not mean bad news.

[Soapboxmom]

Please clarify.  Are you saying the property designated for EarthQuest that was lost in bankruptcy will be repurchased before the December 15th, 2013 deadline as set in the bankruptcy filing?  Has Friendswood Development agreed to an extension or are they still planning to build homes on that property as they previously stated? 

[uscats35]

Any updates here?

[Witch King]

Any updates here?

 

I wouldn't hold me breath. It ain't gonna happen.

[Mab]

 

Contour Entertainment, the developers of the themed adventure park, EarthQuest Adventures; continue to assure community they are still alive, thriving and planning to move into the East Montgomery County community.

Since the timeline ran out on the lease for the plat of land in New Caney that was owned by Friendswood Development, Contour Entertainment has already selected a new section of land in East Montgomery County.

They plan to close on that particular parcel of land by May 2014. Because they are still working out all of the contract details and plans, the exact location Contour Entertainment has selected has not been made public yet.

“We are on our way,” Chris Brown with Contour Entertainment said at the Feb. 18 East Montgomery County Improvement District meeting. “When we were here at the December EMCID meeting, we indicated that we would be making an international trip to meet with potential investors and possibly sign agreements so we could move forward. That did happen as planned, signed the next level of agreements with these investors and have also officially filed for the international incorporation which is imperative for the international deposits to this plan to be made.”

This funding will allow for them to move forward with their plans. They have also identified a property that is significantly larger than where they had previously planned for near Roman Forest.

“We have entered into an agreement with the owner of the land and it is within the EMCID boundary,” Brown said. “We hope to close on the purchase of the property around the end of May 2014. We are not dead; EarthQuest is alive and doing well. We have multiple designers adjusting the plans for the new property and we are proceeding.”

Contour Entertainment includes several key facts about the area in the packets they give to investors for EarthQuest such as population increases in the area as well as the opportunity to reach 7.2 million people within a two-hour drive time and 4.7 million in a one-hour drive time.

Once the land is purchased, Contour Entertainment plans to work with local companies they will hire to build the project in phases.

Brown cites the downturn in the economy as a reason it has taken a long time to receive funding for the EarthQuest Adventures project but ensured the EMCID board that they are making positive steps in the right direction to make this project a reality.

At this point, their plans still include a water park, theme park, museums, lodging, restaurants and many other features they hope to fit in with the natural landscape.

“As we continue forward, it is our intent to hire local firms to work with us on the project and make this a local project,” Brown said. “I think a lot more people will be happy once we finally break ground on the land and we have backhoes out there. We will get there.”

http://www.yourhoustonnews.com/humble/news/earthquest-developers-we-are-still-alive/article_cf5fcbd6-0e4e-567e-a4cd-023916fa143d.html

[Nate99]

 

 

We are not dead;

 

That doesn't sound good. 

[TBooze]

Link from today's Chron. http://www.chron.com/neighborhood/kingwood/business/article/Developers-of-Texas-dinosaur-theme-park-trying-to-5285473.php?cmpid=houtexhcat#photo-5971646

I guess they're planning on closing on the land soon, and according to the article this project has grown in size. Sweet.

[Soapboxmom]

http://blogs.houstonpress.com/hairballs/2014/03/earthquest_chris_brown_contour.php

 

After the lawsuits, many ground breaking dates that have come and gone and talk of choosing from numerous investors for years on end, I have to question why the papers are still repeating anything said by Chris Brown, Don Holbrook or Frank McCrady as if it is fact.  Is that legitimate reporting?