California Group Unveils Plans for Vegas Amusement Park

A California investment company plans to build an amusement park and 300-room nongaming hotel behind the Stratosphere hotel-casino.

Emerald Isle of Southern California has already acquired about half of the 70 acres it needs for the venture. In comparison, Disneyland is 85 acres.

Emerald Isle agreed to buy Stupak Park from the city for $4.5 million--six times the $750,000 estimated value--at Monday’s city Real Estate Commission meeting.

“It’s time the city stopped giving things away,” said David Roark, manager of the city’s Real Estate Division, who negotiated the deal.

The reason the larger sum will be paid has to do with the sensitivity of the area, Roark said. Commonly referred to as Meadows Village, the area is home to low-cost housing, and the city is requiring the company to help residents and businesses move.

Emerald Isle will build another park to replace the Stupak Park north of the project. The new park will serve as a buffer between the amusement park and the remaining 32 acres of housing.

Emerald Isle has agreed to cover the costs of moving the modular buildings recently constructed at the park, which are classrooms for classes in English as a second language.

Controversy still surrounds the Stupak Community Center, across from the park. The title to the center’s land was supposed to be handed over to the city by owner Bob Stupak. But that has yet to happen, and could take litigation to get it in the city’s possession.

Little is known about Emerald Isle. Sean Cunningham, a real estate agent from First Nevada Realty, is heading the team of 10 to 25 agents that has spent the last 2 1/2 weeks acquiring the property for Emerald Isle. Cunningham said that the developers would like to keep the plan quiet until Oct. 20, when the item would be voted on by the City Council.