UPDATE: Hoosier firm plans water park by Cabela’s

Focus Group Inc. of Valparaiso plans to build a hotel and water park adjacent to the Cabela’s outdoor-goods store slated for the southeast corner of Interstate 65 and County Line Road.

Nebraska-based Cabela’s this afternoon confirmed that it plans to build a 125,000-square-foot store at that location. Cabela’s has a deal to buy 104 acres at the site. It will use 21 acres for its store and earmark the remainder for entertainment and retailing uses. The only other project it identified today was a Splash Mountain indoor water park and hotel to be developed by Focus Group.

Cabela’s said it is prepared to move forward with its store “if negotiations are successfully concluded.”

The city of Greenwood plans to issue $18 million in bonds to help finance the store. Under the deal, Cabela’s would guarantee repayment of the bonds.

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