An investment group that includes NBA All-Star and D.C.-area native Kevin Durant will buy the Six Flags property in Prince George’s County, Maryland, WTOP has learned.
Details of the purchase price are not yet known.
The site will not be operating as an amusement park in the future. Instead, redevelopment plans around the future of the site will focus more on entertainment and mixed-use development.
Prince George’s County Council At-Large member Wala Blegay said it would be a “destination that will include input from the community, and could include something that will cater to all ages.”
Blegay said that should there be some sort of amusement experience, it “wouldn’t be amusement alone.”
Things are still in the very early stages of development, and sources told WTOP that the investors buying the land said community meetings will be planned in the future.
“We are excited about the vision, energy, and opportunity this new ownership team brings to the former Six Flags site,” County Executive Aisha Braveboy said in a news release. “This is a major step forward for Prince George’s County and a meaningful opportunity to elevate this property into a destination development that reflects the expectations of our residents and strengthens economic development in our County.”
Braveboy announced Wednesday that Durant’s 35V company and TPA Group, a real estate investment firm based in Atlanta.
A source said the total size of the redevelopment, including the potential number of homes, hasn’t been determined yet.
Prince George’s County leaders have long maintained that whatever replaced Six Flags would be something that generated more tax revenue than the amusement park that used to stand there.
“You’re talking about, what was it, $3 million, compared to how much property they’re sitting on,” said county council Chair Krystal Oriadha on Tuesday, before anyone knew who the buyer was. “So what’s really important to us as a council, and I know the county executive, is doubling that. We don’t want to get an undervalued project there.”
The announcement comes just a day after the council announced a package of bills that aim to lure more and better businesses in the county. The legislation includes bills to address a long- complained about permitting process, with reduced permitting fees for sit-down restaurants.
“Our largest tax base, when it comes to commercial development, is the National Harbor,” Oriadha said on Tuesday. “It’s in hospitality, entertainment, restaurants, and so I think that we have to diversify what we focus on.”
Braveboy said she will host several “engagement events” to give residents the opportunity to provide input on the future of the Six Flags site.
“Our residents deserve to be part of what comes next,” Braveboy said. “We look forward to working with the new ownership team and with the community to help create a destination and attraction that residents can enjoy, experience, and take pride in for years to come.”
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