Transformational Riverfront Destination Entertainment District and Theme Park Coming to Middletown, Ohio
City of Middletown
The City of Middletown City Council will vote to approve an ordinance authorizing a purchase, sale and development agreement with Main Street Community Capital, LLC for the development of a 1.3-billion-dollar riverfront destination entertainment district and theme park on October 21 after a presentation at the October 5 council meeting from Main Street Community Capital, LLC and their development partners.
The City of Middletown will partner with Main Street to complete a location-based, entertainment-themed, mixed-use super development to be the first of its kind in the nation, known as “Hollywoodland.” The development is expected to include:
- A first-class, full, service, destination Hotel and attached, publicly-owned convention center with roof-top bar, themed restaurant(s) and assorted amenities.
- A second, family-oriented hotel and water park.
- A third, historic, boutique hotel located within the adaptively-redeveloped First National Bank building.
- A major, indoor entertainment and concert venue for large, nationally and internationally-acclaimed artists and touring Broadway productions.
- An indoor amusement park containing multiple, themed entertainment-based rides, virtual reality experiences, immersive entertainment opportunities and integrated retail, food & beverage.
- Structured and integrated underground deck-based parking (publicly-owned) of no fewer than 3,000 spaces.
- On-site, mid-rise, luxury, market-rate apartment units and/or condominiums.
- Permanent, pre-and post-production motion picture studio sound stages and support offices and infrastructure.
- Multiple, restaurants, bars, brew-pubs, and cafes, and a likely comedy club.
- Integrated fashion, electronic, lifestyle, convenience, and recreational retail.
Thousands of new jobs, over $1 Billion in private investment and an estimated 3.5 million yearly visitors to Middletown are a few of the monumental impacts of the project, as well as dramatically increased long-term revenues to the community in the form of recurring income taxes, property taxes and other associated fees.
“This will be a transformational redevelopment opportunity for Middletown that came out of a redevelopment study for our riverfront property. It will encompass over 50 acres of our historic Downtown,” said City Manager Jim Palenick. “It is a once-in-a-lifetime opportunity to take full advantage of a myriad of local, city, state and federal incentives we have found a way to access, and in turn, and change the future of our city.”
If approved, the City will utilize $7.5 million of American Rescue Plan Act (ARPA) funds toward pre-construction design, engineering, financial structuring and other pre-closing, due-diligence efforts.
“We are thrilled to be bringing this monumental development to Middletown,” said David-Elias Rachie, Main Street Community Capital. “There are great bones to this area and we look forward to working with the City and community members to launch a film and entertainment district, permanently bringing the film industry to the State of Ohio.”
More information about the project can be found at www.MSCCap.com
OEDA has many interesting and dynamic professional development sessions coming up soon.read more
On April 28, JobsOhio was announced as the National Organization of the Year (in our category) of the 2022 American Business Awards (ABA). Widely regarded as the world’s premier business awards program, this competition attracted more than 3,700 nominations. This recognition is further validation that the JobsOhio platform is Ohio’s competitive advantage.read more
Government agencies and prime contractors that award billions of dollars in contracts will meet in-person with small businesses in Ohio at the 2022 Ohio Business Matchmaker, the largest small business-to-government contracting event in the state.read more