A former Six Flags theme park abandoned in 2005 after severe flooding stemming from Hurricane Katrina could be given a new lease of life after two groups of developers laid out proposals to revive the theme park.

The abandoned site in New Orleans, Louisiana, nowadays frequented by vandals and trespassers, could get a revival as an amusement park, resort hotel, outlet mall or sports complex, according to the developers.

A multi-billion dollar proposal by entrepreneur Frank Scurlock would include an amusement park and new resort hotel with a beach swimming pool.

Dubbed “Festival Park, Spirit of Louisiana”, Scurlock's plan includes a US$120m (€106m, £84m) first phase to restore the park with 30 different rides themed by Louisiana festivals, such as Jazz Fest, Voodoo Fest and the Ponchatoula Strawberry Festival, offering a year-round version of the state’s big events.

Beyond restoration of the park, the 200-plus acre plot of land would be part of a multi-billion dollar plan, which includes an international shopping centre leasing store space to other nations, rather than retailers, while a hotel with a beach-style swimming pool would give visitors a resort destination.

The second group, headed by Tonya Pope of the Paidia Company, offered to buy the lot for a fee of US$2.5m (€2.2m, £1.75m). Pope told the New Orleans Industrial Development Board that the company has partnered with Baton Rouge-based retail developer Kimble Development, which owns 16 retail centres in Louisiana and Mississippi. Also proposing a theme park dubbed “Jazzland”, the attraction would be a US$50m (€44.2m, £35m) project designed to showcase Louisiana.