Randalls Island, New York City, NY, USA - It may seem like a fish out of water in the middle of New York City, but developers are hoping for that uniqueness to become a main draw for the city's first major water park.

Final approval was granted today when the Franchise and Concession Review Committee gave the green light for a $168 million project to be constructed on a 26-acre plot of parkland on Randalls Island, just under the Triborough Bridge. This ends a seven-year time period since the concept first came to the table as a 12-acre seasonal park.

The Aquatic Development Group's plans include both indoor and outdoor attractions for the park they will construct and lease in a 35-year contract. The 19-acre outdoor section will include multiple eight-story water slides and the traditional lazy river while the remaining seven acres will consist of one of the world's largest indoor pools and a restaurant.

One concern with the water park is the price of single-day tickets, which is currently planned on standing at $37 for a normal adult admission. However, discounts of nearly 50% are being considered to help attract more summer visitors once the park debuts.

Construction may begin as soon as this spring and an official debut is tentatively slated for Memorial Day 2008.

Since Randalls Island became a city park in 1933, the area has functioned primarily as an expanse of athletic fields and a location for concerts.