SF to purchase SFMW!

With all the craziness of todays news, I almost overlooked the great news for us NorCal enthusiast. Part of the proceeds from these recent sales will be used to exercise their option to purchase SFMW for $55 million!

Third paragraph from the bottom:

http://story.news.yahoo.com/news?tmpl=story&cid=580&ncid=580&e=7&u=/nm/20040310/bs_nm/leisure_sixflags_dc

Great news for us since there was concern that SF might pull out of Vallejo soon, and take with them the best steel and wood to hit NorCal in decades.

Don't get too excited. That's an analyst "expectation", not a formal announcement.

SF doesn't own it? Can someone please explain how it is called Six Flags then? Is it run by SF by management contract?

-Sam

SF leases the land from the city.

bigkirby is right, the park itself is still owned by the City of Vallejo.

And you're right Brian, but encouraging to hear anyway! SF does need somewhere to relocate all those marine animals!

OMFG I AM SO HAPPY RIGHT NOW. PARTY!!!!!!! :)

Oh man, this is huge news. YES! I've been waiting so long! If they were to buy the park, the height limit could possibly be raised. :)

Wow.

-Nate

Sorry. I'm a little off. ;)

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GoliathKills said:

Oh man, this is huge news. YES! I've been waiting so long! If they were to buy the park, the height limit could possibly be raised.

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How do you get the idea that it would change the height limit? The park will still be in the city of Vallejo and they have zoning laws. It won't change anything in that aspect of it.

To get an idea of how important location is to the value of real estate.....how much would the land be worth if there were no amusement park sitting on it....congrats to the city of Vallejo! ;)

In that neck of the woods, more every month, 'gator. More every month. The Bay Area is not exactly flush with buildable land that is accessible to the highway system, even way out in BFE Vallejo.

Yeah, with the bay area being one of the highest real estate values in the US, that land is pretty valuable

It's not set in stone yet as someone else mentioned. But we can still be hopeful that it will go through. As for the height limit, I'd call it a 50/50 chance of that being raised.

It's still good news though.

Chitown, the city of Vallejo isn't the reason they can only build 150 feet at the lowest point of the park. The real reason has to do with the restrictions OSHA had placed upon the land. One of the good reasons for buying the park is the option to increase the limit. I read about it in an article a few years ago when the city was hoping the park would buy for $53mill.

In addition, now that the nearby Naval base is completely closed for good, that will also make it easier for SFMW to have it's height limit raised.

I know this probably isn't big news to all you guys, but for us locals, this is GREAT news. Not only do we get a replacement killer whale for our stadium, a staple of every marine park. But now it seems most likely SF is here to stay.

Unlike all the other SF parks, since SF didn't actually own SFMW, if they did decide to leave, there would have been nothing stopping them from taking their coasters with them, and relocating them to other SF parks. I've long since given up on Paramount ever installing a coaster over 3,000ft at PGA. The possibility of loosing an incredible GCI twister, a custom Intamin Impulse, and the best sit down looper on the West Coast was frightning. This news is such a relief to know they're here to stay!

In my opinion that is one of the best placed parks in the entire chain (that I've visited). Not only is the area exploding in terms of residential growth, but the park is very close to the highway and very visible to anyone passing. I'm sure that people who make the commute or just drive by to go to wine country see it all the time -> free advertising. This purchase is indeed good news. Hopefully it will mean some pretty (relatively) heavy capital investing.

I'll say it again: no one from Six Flags has said anything at all about buying SFMW.

Come'on... let us hope. :)

Well, at least it's now been confirmed that Shouka is coming to SFMW! Sad news for Ohio, great news for us!

http://www.ohio.com/mld/beaconjournal/8156021.htm