Schlitterbahn demolished could mean new developments Schlitterbahn demolished could mean new developments and last updated 2021-07-21 19:34:00-04 CORPUS CHRISTI, Texas â Many people might recall a lot of relaxing and fun memories at Schlitterbahn and the Waves Resort, but thatâs all theyâll be for now- just memories. The water park and resort was demolished Wednesday after they werenât bringing in revenue. They opened in 2016, but when the pandemic hit they shut down and never re-opened. Corpus Christi Councilman of District 4 Greg Smith said the land is owned by Diamond Beach Holdings, which is a wholly owned subsidy of IBC Bank. He said they are thinking of putting residential areas, shops, hotels, and restaurants on the 150 acres of land, but they are still in talks with the city about the future of the development.