Frisco, Texas (FOX 44) — Universal Parks & Resorts plans to build a new theme park in Frisco. The company made the announcement Wednesday.

According to the company, this will be a one-of-a-kind theme park geared towards families with young children. There will be immersive themed lands that celebrate Universal’s characters and stories.

The park will be on 97 acres east of the Dallas North Tollway and north of Panther Creek Parkway. It will be much smaller than the company’s park in Orlando, Florida, which covers 541 acres.

Universal says the new park will have family-friendly attractions, interactive shows, character meet and greets, and an adjacent themed hotel with 300 rooms.

In a press release, Frisco Mayor Jeff Cheney said the new park will help the city grow, “This new Universal concept will continue to enhance our tax base, expand employment opportunities and bring even more fun to Frisco benefiting our residents, businesses, and visitors.”

“We are excited about the opportunity to partner with the city of Frisco and Mayor Cheney as we work to bring this innovative, new concept to life designed specifically for a younger generation of Universal fans,” said Page Thompson, President, New Ventures, Universal Parks & Resorts. “We think North Texas is the perfect place to launch this unique park for families given its growing popularity within this part of the country.”

So far there is not a date for a groundbreaking or a target for completion.