Investors, undisclosed to the public, have bought about 600 acres of woodlands in the Houston area for proposed amusement parks with Wild West and water themes.
Later this year, construction for the Grand Texas Theme Park and the Big Rivers Water Park near New Caney is scheduled to begin.
Early this week, developers announced the purchase but not the price. Local reports say developer Monty Galland previously estimated the total project cost could reach $220 million.
The famed AstroWorld amusement park in Houston shut down in 2005 after 37 years in operation.
The Grand Texas-Big Rivers site about 30 miles northeast of Houston will be managed by Innovative Leisure Partners. Founder and CEO Chuck Hendrix is a former Six Flags executive who was running AstroWorld when it closed.