Garden Grove has approved the sale and development of new land for a new Nickelodeon Hotel & Resort. The new Nickelodeon property will include the hotel and also water slides and a lazy river. It received the green light from the Garden Grove City Council for land to be sold to a developer who will build a hotel with 500 guest rooms, a spa, restaurants, and a 600-seat theater.
The new project is slated to be around $277 million and will be found on Harbor Boulevard and Twintree Lane. This will be in the city’s tourism district, also known as the Grove District. This area attracts tourists who are visiting Disneyland. City officials hope that this new project will lead to millions in local taxes along with hundreds of hotel and construction jobs. There will be a preference for the project of hiring local residents and also union construction workers when the resort is being built. It is estimated that the project will create between 600 and 700 construction jobs and also 300 to 400 permanent hotel jobs, along with another 200 temporary hotel jobs. The agreement included a preference for hiring local residents for the construction of the project, with those jobs going to union workers.
The deal that Garden Grove made is with Newage Garden Grove II LLC in Arcadia with Kam Sang Company Inc. as its managing partner. It includes a major break on the land sale and also reimbursement of hotel tax revenue, which is expected to equal $103 million in public assistance over the course of 30 years. Garden Grove is selling 3.72 acres of land that it had been acquiring over the last couple of decades. The city paid $9.7 million for the land and its related costs. It is selling it, however, for $920,000, according to city documents. The estimated value of the land is $10.6 million, according to appraisals obtained by the city. The agreement will also have the city giving the developer up to 60% of the city’s hotel tax revenue for up to three decades, which could be up to $93 million.
On the other side of the coin, the city predicts it will generate around $236 million in taxes and also generate more business for Garden Grove’s hotel corridor. It is estimated that this will stimulate the city’s economy with another $1.75 billion and the region $2 billion over the course of three decades.
It is expected that the city and developer will close escrow on the property before the end of the year. If all goes as planned, groundbreaking should happen by November 1, 2024, with the completion of the hotel happening in 2027.
When completed, the resort will have a 23-story hotel that includes 9,490 square-foot ballrooms with restaurants and other food areas total of 22,296 feet. There will also be a 7,000-square-foot arcade, a spa, and also a fitness center Nick Studio, a Studio Hall, and a Kid’s Lounge will offer other entertainment offerings. For parking, there will be 528 parking spaces.
According to Nickelodeon officials, the hotel currently does not plan to offer day passes. Prices haven’t been announced for guests to stay at this Nickelodeon Hotel & Resort at this time.
What do you think of Nickelodeon Hotel & Resort coming to Garden Grove near the Disneyland Resort? Would you want to stay at this hotel and resort? Share your thoughts and opinions in the comments below!
