Construction is expected to begin in the fall of 2020 on a $50 million water park development in Montgomery which city and county officials say will transform the area economy.

The park, planned for Maxwell Boulevard off Interstate 65, will include an “Olympic standard recirculating whitewater course designed to appeal to the casual spectator and the passionate outdoor athlete.” But ultimately, it will also be comprised of retail options, restaurants, hotels, concert venues and event facilities with walking distance of the downtown area along the Alabama River, organizers say.

It is expected to open in 2022 and have an economic impact of $40 million.

“The impact of this will reverberate across our community and return the investment in more ways than we can imagine,” Montgomery County Commission Chairman Elton Dean said. “Not only will it improve the lives of citizens, but it will attract new tourists and give existing visitors a reason to stay one more night, which equates to an increase in tax revenue for the community.”

An artist's conception shows a $40 million water park planned for Montgomery.

Keivan Deravi, president of Economic Research Services, said the attraction should draw about 300,000 visitors to Montgomery each year, with ongoing operations expected to generate more than $35 million.

“Project Catalyst," as the park has been known in the planning stages, is important along several lines to the area, Montgomery Mayor Todd Strange said.

“This development has the capacity to serve as a catalyst for economic growth along the I-65 corridor,” he said. "Part of a larger vision by area leaders, the development of this important corridor is critical to serve our residents, attract travelers to stop in Montgomery and to project a positive image of our community.”

It will include other activities, such as climbing walls, ziplines, rope courses, flat water activities, and trails for biking, running and hiking. Planners say it will be available for camps, team building events, and also swift water rescue training for first responders.

This post was modified at 10:58 a.m. Aug. 29 to correct the construction date and cost of the development.