"It's a pretty neat concept," Rasmussen says. "The idea is for people to come for the weekend and use the park. Instead of going to Florida, you could just bring the kids there for the weekend."
Horizon's managing partners Mark Flaherty and Chuck Heath, are also are part of an ownership group called WPH Boston LLC, which purchased the resort property for $26.6 million from Ferncroft Hospitality LLC several months ago. They could not be reached for comment by GlobeSt.com.
But Rasmussen says the concept is not unique. There are about 30 indoor water parks in the Midwest, two of them developed by Horizon. Since the hotel spans both the Danvers and Middleton lines, it is unclear exactly which community would get the tax benefits of the addition, Rasmussen says.
Preliminary plans for the facility call for the water park to be located behind the main hotel at 50 Ferncroft Rd. in Danvers and will be open only to paying hotel guests. The Sheraton Ferncroft, located just off Interstate 95, also has an 18-hole golf course, tennis courts, a gourmet restaurant and a 50,000-sf function hall, the largest function hall outside of Boston.
The cost of the project, Rasmussen says, is estimated to be about $30 million and will include renovations to the existing hotel. The developers, however, must still get town approval before building the facility.
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