Timeshare Mogul Plans to Sell His Prime Tourist Corridor Site for Hotel or Mall Development

ORLANDO-Timeshare developer David A. Siegel plans to sell a prime six-acre tract that has housed his Mystery Fun House attraction for 24 years because the land in the city’s major tourist corridor is becoming too valuable to keep as a second-tier attraction.

Siegel thinks the dirt could be developed as a hotel or mall. The site at 5767 Major Boulevard is across the road from the front door of Universal Orlando.

Orange County appraised the tract last year at $3.3 million or $550,000 per acre ($12.63 per sf). That is a 16% increase from the county’s 1997 assessment.

Area land brokers tell GlobeSt.com those numbers are still a good buy currently, compared with some tourist area corners along nearby International Drive that are going for $1 million per acre or $22.96 per sf.

Siegel hasn’t decided if he will close down the 53,000-sf Mystery Fun House or move it to another location. The developer says the attraction has drawn about 20 million visitors since opening in 1976.