The $277 million Nickelodeon Hotel project, subsidized with taxpayer money, is billed as a plan to attract tourists and create jobs.
A Nickelodeon Hotel & Resort, featuring water slides and a lazy river, got the green light this week to be built inThe Garden Grove City Council unanimously approved the sale of city land to a developer for a Nickelodeon-themed hotel, with 500 guest rooms, a spa, restaurants, and a 600-seat theater.
“I can’t decide what I’m more excited about — to have SpongeBob or to have local jobs,” Councilwoman Kim Nguyen told her colleagues prior to the vote on Tuesday, Sept. 13. Garden Grove is selling 3.72 acres of land the city has been acquiring for the past two decades. The city paid $9.7 million for the land, and its related costs and is selling it for $920,000, according to city documents.
Meanwhile, a city analysis predicted the project will generate approximately $236 million in various taxes and generate more business for Garden Grove’s hotel corridor, pumping more than $1.75 billion into the city’s economy and another $2 billion to the region over a 30-year period, according to city documents
Rendering of a Nickelodeon Hotel Resort planned in Garden Grove, where the City Council voted on September 13, 2022 to approve the sale of city-owned land to a developer looking to build the $277 million resort.
The city and the developer are expected to close escrow on the property before the end of the year. Under a schedule included in the agreement, following approvals and permits, groundbreaking is expected by Nov. 1, 2024, and completion of the hotel is slated for 2027.
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