Theme Park Proposed For The Colony

THE COLONY (CBSDFW.COM) - A theme park in The Colony?  It could happen.

The city council agenda for Tuesday night's meeting lists a proposal for a "1.5 billion dollar" development for "a theme park, hotel, convention center, stores, concessions, restaurants and park facilities."

The park development would sit on 400 acres along Texas 121.  It would supposedly create tens of thousands of jobs while bringing eight million tourists to The Colony annually.

City officials won't name the developer.  But Denton Central Appraisal District records show much of the land in question is owned by a transcendental spiritual group that once promised to build the world's tallest building there.

Years ago, the Maharishi Global Development Fund wanted to build a 1,600 foot tower on the land.

That skyscraper project never happened, and neither did a separate mixed-use development the group later proposed for the same location.  The land is empty now.

This map from the Denton Central Appraisal District's website shows a portion of the area where the development would lie, along Texas 121 between Spring Creek Parkway and Plano Parkway.  The colored areas of the map on the south side of Texas 121 represent land owned by the fund (click for larger view).

City officials say the project would not cost taxpayers anything.