Updated: Nov 1, 2016 – 5:12 PM

ORANGE COUNTY, Fla. – Universal Orlando’s parent company is facing a lawsuit that could slow down its plans to develop a new theme park off International Drive in Orlando.

The lawsuit claims there are restrictions on building a theme park on that property on Sand Lake Road.

Channel 9’s Jamie Holmes found out Universal’s own effort to limit competition that is threatening the future of the park.

Universal bought the 475 acres of land this year for $130 million. The company has told county officials they plan to build another theme park here, but there is a restriction written in the land deal that prevents any theme park from being built on the property.

“This is not only a complicated lawsuit, it’s an expensive lawsuit,” said WFTV legal analyst Bill Sheaffer.

Universal owned the land once before, then sold it to a property developer in Georgia. That is when Universal put in the “no theme park” restriction on the property, citing concerns over competition.

The developer lost the property during the recession and that’s when Universal bought it back. The lawsuit claims the declaration stays on public record through an association that was created.

“The covenants and restrictions were in place when the developer bought the land. They travel with the land, not with the person that owns the land,” Sheaffer said.

The 435-page lawsuit alleges Universal needs the group’s permission to put a theme park here and the group has asked a judge to halt Universal’s development of the property.

Universal declined to comment on the lawsuit. The attorney representing the plaintiff also did not return our calls.

Please visit the source link below to read the entire article.