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Freestyle Music Park bought out of foreclosure, hopes to open in 2012
MYRTLE BEACH – Freestyle Music Park in Myrtle Beach, which has been closed for about two years, could reopen within the year.
David Slough, attorney with FPI US LLC, said his company purchased the park on Monday. When the mortgage lender purchased it, there was about $34 million in outstanding loans on the property.
Slough said no decisions have been made concerning the plans for the area, but said it “would be great” to open for Summer 2012.
The amusement park originally opened in May 2008 under the name “Hard Rock Park.” It closed doors just six months later. FPI MB LLC then bought the park and renamed it to “Freestyle Music Park” in April 2009. Freestyle closed for the season in September 2009, with plans to re-open for the spring. That never happened.
Slough said the park opened when fewer tourists were visiting the area. Investors have been encouraged by recent renovations and improvements to Myrtle Beach, such as the Skywheel and Landshark restaurant downtown.
Slough said the park definitely needs to be cleaned up before opening for good, but there has been routine maintenance on the grounds since it closed in 2009.
There are engineers on site that inspect the rides and run them on a regular basis to make sure they are operating properly.
While no solid decisions have been made, FPI US LLC is considering three main options for getting the park reopened: It could sell the park to another company; re-open the park itself; or allow a third party to operate the facility.
The next step in the process is to have discussions with potential third parties to gauge interest for the project.
