Why Is Crowd Funding Necessary to Make Rhode Island Waterpark a Reality?
Cascade Water Park LLC, a grass roots startup with no assets, was formed with the sole purpose to bring a waterpark to Rhode Island. Due to our previous association with Rocky Point Amusement Park, Cascade understands the need for family recreation that was created by the closing of Rocky Point.
With the dream to bring family recreation back to Rhode Island, Cascade has been draining its personal funds over the past several years to develop a multi-layered business plan to attract investors that would essentially move the dream into reality.
The Business Plan is very sound including over a hundred pages of factual content such as pro forma notes, feasibility studies, market analytics, facility drawings, market needs, 50-mile ring demographic studies, operational structures, re-engineering of site plans, civil engineering, growth strategies and much more. Many of these elements, all of which costs money to develop, have to be done over again as we’ve evaluated various new sites over the last few years.
We are at an intersection and now need YOUR SUPPORT. At this point Cascade requires a cash infusion from Crowd Funding to keep the project alive. We’re excited to note that while we have evaluated many site options, a new one has finally been identified but now needs to be secured; which requires capital. This is another step in the right direction to ultimately put the final touches on the colossal business plan to attract the investors. The financial requirement from Crowd Funding, while significant to our Rhode Island Waterpark fans, is actually a critical next step towards getting the $14 million required from investors to make it a reality for the people of Rhode Island.
Where is it going?
The water park will be built in the City of Woonsocket at one of the two sites were are presently evaluating. Both sites are equally good but we are doing our homework before final decision. Due to the resistance associated to our primary site in late 2014 we have had to explore many other locations at great cost. Most of you are familiar with the negative response to our original site in Johnston at 295.
How was the site chosen?
The location was chosen to be easily accessible from MA, as well as RI. It is a convenient connection to the major arteries of (I-95) (295) (146) and (195) in the northern part of RI, close to MA. The driving distance and time from the Boston Hub will be less to get to us than to other Water parks in Massachusetts.
How many attractions?
The proposed water park will feature 12 slides including a children’s interactive area. The slides will all be of superior height and complexity compared to its competitors. The park will also include a 20,000 sq.ft. wave pool and a lazy river of at least 900′ x 16′ wide. Also featured at the park will be a 50′ diameter Children’s spray pad and a 60′ diameter Children’s interactive play unit with water cannons, slides, dump bucket and more…
Park entry cost?
We will try to maintain the Park entry cost at under $35 for the rack rate and $26 for under 48”. These prices overall are less than other Water Parks in New England. Parking may be free (We’ll try)
There will be a full menu of food and beverage on site.
How will this help stimulate RI?
This WaterPark will attract about 100,000 visitors or more from MA into RI, who would not have any other reason to venture into RI. The RI economy will be stimulated by this new visitorship spending from MA., at local area RI businesses. Jobs will be created to build the park and jobs created to operate the park. Yes, we understand that these may not be year round jobs yet, but the long term plan is to make the water park a year round destination.
What is the plan?
We have already invested the funds for two feasibility studies, site plans, pro-formas, site development budgets and research & engineering. We have to raise funds to perform the same work over again; a new feasibility study and to create the proper business plan to attract the equity investors. What we need are funds for legal work, accounting work, and general soft cost funding such as architecture, and engineering, since we have had to move the proposed park. This is where you, the people of Rhode Island can make a difference and donate to our ‘Crowd Funding’ efforts. Please stay tuned and we will post new information on Facebook as it comes available. We understand that you have all been patient and we appreciate your continued interest.