BRAZORIA, TEXAS WATER PARK FEASIBILITY STUDY THE INSTITUTE OF URBAN STUDIES SCHOOL OF URBAN AND PUBLIC AFFAIRS THE UNIVERSITY OF TEXAS AT ARLINGTON 9/28/2012 TABLE OF CONTENTS TABLE OF FIGURES ................................................................................................................................ III ACKNOWLEDGEMENTS ........................................................................................................................... V EXECUTIVE SUMMARY ........................................................................................................................... 1 CHAPTER 1: PROJECT BACKGROUND ........................................................................................................ 4 1.1GOALS AND STRATEGIES ............................................................................................................... 5 CHAPTER 2: WATER PARK INDUSTRY ....................................................................................................... 6 2.1 INDUSTRY DESCRIPTIONS .............................................................................................................. 7 2.2 WATER PARK GUIDE ................................................................................................................... 7 2.3 WATER PARK OPTIONS FOR BRAZORIA .......................................................................................... 15 CHAPTER 3: BRAZORIA MARKET............................................................................................................ 16 3.1 BRAZORIA SITE CONSIDERATIONS .................................................................................................. 16 3.2 DEMOGRAPHICS – BRAZORIA AND SURROUNDING MARKET AREA ...................................................... 23 3.3 DRIVE-TIME ANALYSIS ............................................................................................................... 24 3.4 TAPESTRY SEGMENTS FOR BRAZORIA ............................................................................................ 27 3.5 TAPESTRY IMPLICATIONS FOR BRAZORIA DRIVE TIMES ...................................................................... 29 3.6 NEARBY AQUATIC FACILITIES ....................................................................................................... 29 3.7 TOURISM IN BRAZORIA COUNTY ................................................................................................... 32 3.8 ECO-TOURISM AND NATURAL AMENITIES ...................................................................................... 35 3.9 BUSINESS ANALYSIS, FUTURE TRENDS ........................................................................................... 36 3.10 PROXIMITY OF WATER PARKS TO RECREATIONAL ACTIVITIES ........................................................... 38 CHAPTER 4: FINANCIAL IMPACT ............................................................................................................ 40 4.1 CAPACITY ANALYSIS ................................................................................................................... 40 4.2 PROJECTED ATTENDANCE ........................................................................................................... 41 4.3 REVENUE PROJECTION ............................................................................................................... 43 4.4 OPERATING EXPENSE PROJECTION ............................................................................................... 45 4.5 OPINION OF FINANCIAL PERFORMANCE ......................................................................................... 46 4.6 RECAPTURE RATE AND SUPPORTABLE DEBT CALCULATION ................................................................ 47 4.7 DEVELOPMENT COSTS ............................................................................................................... 48 CHAPTER 5: RV PARK COMPONENT ....................................................................................................... 50 5.1 RV PARK MARKET .................................................................................................................... 50 5.2 LOCATION CONSIDERATIONS ....................................................................................................... 51 5.3 RV PRICING ............................................................................................................................. 53 5.4 COORDINATION WITH WATER PARK ............................................................................................. 54 CHAPTER 6: CONCLUSION .................................................................................................................... 56 APPENDIX A ...................................................................................................................................... 60 APPENDIX B ...................................................................................................................................... 64 APPENDIX C ...................................................................................................................................... 66 APPENDIX D ...................................................................................................................................... 68 REFERENCES ...................................................................................................................................... 73 FEASIBILITY STUDY ii TABLE OF FIGURES FIGURE 1: ENTRANCE FEES, ATTRACTIONS, AND RV ATTRACTIONS AT POINT MALLARD ........................... 8 FIGURE 2: ENTRANCE FEES, ATTRACTIONS, AND RV ATTRACTIONS AT SPLASHWAY ................................... 9 FIGURE 3: ENTRANCE FEES, ATTRACTIONS, AND RV ATTRACTIONS AT JELLYSTONE ................................. 10 FIGURE 4: ENTRANCE FEES, ATTRACTIONS, AND VISITORS AT PIRATE’S BAY ............................................ 11 FIGURE 5: ENTRANCE FEES AND ATTRACTIONS AT PARADISE ENTERTAINMENT ...................................... 12 FIGURE 6: ENTRANCE FEES, ATTRACTIONS, AND VISITORS AT CHESAPEAKE BEACH WATER PARK ........... 13 FIGURE 7: ENTRANCE FEES, ATTRACTIONS, AND VISITORS AT SPLASH-IN-THE-BORO ............................... 14 FIGURE 8: AERIAL PHOTO OF LAND SITE ..................................................................................................... 16 FIGURE 9: 2010 AVERAGE DAILY TRAFFIC COUNTS ON HIGHWAY 36 ........................................................ 17 FIGURE 10: PROJECTED TRAFFIC FLOWS FOR BRAZORIA WATERPARK ...................................................... 18 FIGURE 11: BRAZORIA, AVERAGE TEMPERATURES .................................................................................... 19 FIGURE 12: COLUMBIA - BRAZORIA ISD 2012-2013 SCHEDULE .................................................................. 19 FIGURE 14: AUSTIN COLONY SUBDIVISION PLANS ..................................................................................... 21 FIGURE 15: BRAZORIA ETJ MAP .................................................................................................................. 21 FIGURE 16: CURRENT LAND USE AROUND BRAZORIA PROPOSED LOCATION ........................................... 22 FIGURE 17: FLOOD PLAIN MAP OF BRAZORIA ............................................................................................ 23 FIGURE 18: BRAZORIA DRIVE TIME MAP .................................................................................................... 24 FIGURE 19: POPULATION BY DRIVE TIME— 2011 AND 2016 ..................................................................... 25 FIGURE 20: 2011 AGE DISTRIBUTIONS ........................................................................................................ 25 FIGURE 21: 2016 PROJECTED AGE DISTRIBUTIONS .................................................................................... 26 FIGURE 22: 2011, 2016 AVERAGE HOUSEHOLD INCOMES IN BRAZORIA REGION ..................................... 26 FIGURE 23: PERTINENT TAPESTRY DATA WITHIN 90 MINUTE DRIVE TIME ................................................ 27 FIGURE 24: INTERIOR PHOTO OF ANGLETON RECREATION CENTER .......................................................... 30 FIGURE 25: RATES FOR ANGLETON RECREATION CENTER ......................................................................... 30 FIGURE 26: FIRST CAPITAL PARK ................................................................................................................. 31 FIGURE 27: FIRST CAPITAL PARK DAILY RATES ............................................................................................ 31 FIGURE 28: NEARBY AQUATIC FACILITIES MAP .......................................................................................... 32 FIGURE 29: SEA CENTER TEXAS ................................................................................................................... 33 FIGURE 30: LAKE JACKSON HISTORICAL ASSOCIATION ............................................................................... 33 FIGURE 31: ESCAPE DOWN 288 ATTRACTIONS........................................................................................... 34 FIGURE 32: HOTELS IN BRAZORIA REGION ................................................................................................. 38 FIGURE 33: ARLINGTON’S RANDOL MILL PARK WITH SPORTS COMPLEX AMENITIES ............................... 39 FIGURE 34: CAPACITY .................................................................................................................................