Universal Orlando Resort has submitted plans with the city of Orlando to redevelop the now shuttered Wet ‘n Wild site. The theme park company will be creating a complete “master plan” for the redevelopment of the 64 acre site. Plans call for a 4,000 hotel rooms and three parking garages. Universal Orlando bought the site for $30.9 million in June of 2013 from Southwest Land Co. of Newport Beach, California. Universal bought Wet-N-Wild in 1988 and continued to lease the land on which it is located.