Amusement Park News

After false starts and many plans that went nowhere and enduring the delays of the pandemic and high interest rates, the Mall of America and Bloomington, Minn. officials have put a waterpark for Mall of America back on track. A new public subsidy package has taken this project from a dead-man's float to riding a wave of potential success. Mall and area leaders have now decided that a waterpark will serve as a terrific draw for tourists after all - and keep the mall in a competitive position. The waterpark will be called Mystery Cove.

The new plans developed for Mystery Cove are for a smaller space than previously discussed: 143,000-square-feet versus an original 250,000-square-foot plan. The park will still feature a clear roof, but unlike older models which saw that roof staying stationary, the new proposal envisions that the roof would retract, so that it could be opened on warm days to reduce high energy costs. The retractable roof will also provide guests with a connection to the outdoors as well as improving the sustainability for the project. Energy costs are on track to be reduced by up to 50% from earlier plans due to this feature.

The price tag? A likely $345 million for the waterpark, plus an additional $75 million for a new parking ramp. The new plan would include an $85 million subsidy from the city for the waterpark, arranged through tax increment financing, and an additional $75 million for the parking ramp also using TIF. Tax increment financing for this project will use additional property tax revenues from the mall itself to pay toward the costs of development.

What this plan means for the city of Bloomington is collecting profits from the waterpark after the mall owner's debt payments are paid to a private lender, resulting in a minimum collection of $100 million. This money could then be used by the city toward affordable housing or other regional development.

The waterpark itself will be designed to connect to the rest of the mall via a skyway, with an entrance into the mall between Nordstrom and Sears. There are plans currently being formulated to build an attached hotel as well in the near future.

The project's forward momentum fits the future of the mall, as Holly Masek, Bloomington Port Authority Administrator says. She relates that the waterpark fits with a large-scale plan to transform the mall over time from a retail destination to a mix of retail with entertainment – with an emphasis on entertainment. She notes that Mall of America want to “really make sure that the mall remains relevant and can continue to capture and attract visitors.” Creating fresh new attractions and drawing new visitors is key for the mall's continued financial success, per the Bloomington City Council.



Moving forward on the plan, design and planning approvals are anticipated this year, with construction to start in 2025, which should allow Mystery Cove waterpark to open in 2027. Plans include a pool area of approximately 144,000-square-feet, and retro theming for the park.

The theming may be 1950s-era, but sustainability planning is up to date. Mall of America communications director Laura Utrecht says, “We look forward to working with the Sustainability Commission to make Mystery Cove the most sustainable water park possible,” she reports. That sustainability will focus not just on water usage, but on mitigating the park's energy footprint as much as possible.

The waterpark project team will be led by Triple 5 Group, owners of the Mall of America. The park will be positioned on an existing parking lot that adjoins the mall.
Developers suggest that the idea of a waterpark is based on predictions of possibility, with developers seeking to mirror the success Great Wolf Lodge has had after they acquired Waterpark of America, also located in Bloomington.

Mystery Cove creator Chris Grap says the emphasis is on creating a waterpark that's entertaining for “20 visits not just one.” Despite the myriad delays and restructuring of the project, from the pandemic years through financial crisis, Grap is optimistic that this time, the projext will happen.

The waterpark will feature different sections: a wave pool area dubbed “The Cove” and “Eureka Reef”, where the water slides and thrill attractions will be based, are two main areas. There will be 30 slides and attractions in all.

The wave pool will be an expansive 52,000 square feet; the park will also feature a lazy river that Grap describes as “the main attraction,” one that will carry guests through the different areas of the park. The wave pool itself will be divided into two sections with a ship structure called Captain Vesuvio's in the middle.  There will also be a splash pad as part of the attraction mix. The goal is to create a space that is family-friendly but also one that draws teen and adult visitors as well.

Keeping the mall itself financially healthy is not the only goal for the water park developers. Bringing in new audiences will not only sustain the mall but will help to defray property taxes that would fall to residents without the mall's continued success, developers and council members say.

Looking ahead toward a future hotel addition will add to the park's appeal, planners attest that a hotel will serve as a strong draw for out-of-town visitors. The waterpark itself is predicted to appeal to local, regional, and even international visitors, and should comfortably hold up to 3,000 guests at a time.

All in all, it appears that Mall of America is finally ready to “dive on in” to this project and make a big splash in the waterpark industry.