HOUSTON, Sept. 12 (UPI) -- Six Flags Inc. Monday said it will close its Houston theme park, AstroWorld, at the end the season and sell the 109-acre site.
The company cited the reason as the significant rise in property values and the high cost of upgrading the 37-year-old park.
Another factor in the decision was uncertainty over offsite parking rights related to nearby Reliant Stadium and the Texans football team and the Houston Livestock Show & Rodeo, the company said in a news release.
"In assessing the performance of this property relative to the significant increase in real estate values in the Houston market, we concluded that the best way to unlock this value for shareholders was to pursue a sale of the property," Six Flags Chairman Kieran Burke said.
Six Flags said a number of AstroWorld's 119 permanent employees will most likely be offered jobs at other sites.
