Hudson Valley Amusement Park Gets New Owner for $2.25M

A private operator has been selected to take over a historic Westchester park.

It's been a money-loser and a resource-drain for a long time, but it looks like finally the 87-year-old Playland in Rye will be getting some new life.

According to the tentative 15-year deal, announced Tuesday by Westchester County Executive Rob Astorino, Standard Amusements would pay the county $2.25 million for the park and invest another $22.7 million into improving the facility over the next five years.

The new owners plan on adding new rides, restaurants and games, according to CBS New York. A small waterpark may also be a part of the new plans.

Westchester County will receive $300,000 a year along with a cut of the profits after Standard Amusements recoups its costs in purchasing and improving the property.