The Amarillo City Council has approved a new long-term lease agreement that paves the way for a major ownership transition at Wonderland Amusement Park, a community landmark in Thompson Park for more than 70 years. The contract awards operational control of the amusement park to 360 Parks of Amarillo, marking the beginning of a new chapter for the popular family destination.
Under the agreement, 360 Parks will lease a portion of Thompson Park for an initial 15-year term, with the option to renew the lease for two additional 15-year periods. If fully extended, the arrangement would cover 45 years. According to city officials, the agreement will bring in over $100,000 in revenue during the first 15-year term, offering both financial stability and long-term commitment to maintaining the property.
Jimmy Holmes, CEO of 360 Parks of Amarillo, said the company’s interest in the park grew quickly once they visited the area. “We came to this market, we found Wonderland and we just fell in love not only with the park but with the community,” Holmes said. “And we just felt like this was the right park for us. So we’ve been working with Paul and Paula to purchase the park and also the city on the lease. This is an interesting situation because the city owns the land and Paul and Paula own the assets.”
This public–private partnership structure has long defined the park’s operation. The city owns the land in Thompson Park, while the rides, buildings, and other assets have been owned and maintained by Paul and Paula Borchardt, who have run Wonderland for decades. For Amarillo families, Wonderland has been a fixture for generations—something Holmes said was central to 360 Parks’ desire to invest.
“One thing about Wonderland is I haven’t met anybody in the city who hasn’t got an experience with Wonderland,” Holmes said. “Whether it be as a child with their parents or maybe with their grandparents and we just liked the feel of the park. It needs some updates but we like the park and we like the market.”
The acknowledgment that upgrades are needed reflects a growing concern in the community as the park has aged. Visitors and city officials alike have noted that modernization will be necessary to maintain Wonderland’s appeal in the years ahead. While 360 Parks has not yet released specific plans, Holmes confirmed that improvements are part of their vision and will be outlined after the ownership transfer is finalized.
For longtime owner Paul Borchardt, the transition brings both relief and optimism. After decades at the helm, he and his wife Paula are ready to see fresh leadership step in. “I’m enthused about what’s happening,” Borchardt said. “I think my wife and I have a good future, but we’re at an age where who knows how long we’re going to be and I want to make sure Amarillo retains what we have and make it better.”
360 Parks officials say they expect to close the purchase in early January, officially transferring management responsibilities. Once finalized, the company plans to release details about future improvements, operations, and the upcoming season.
As the transition moves forward, city leaders and residents alike are looking ahead with cautious optimism. With new investment, updated facilities, and long-term operational stability, Wonderland Amusement Park may soon usher in a revitalized era—while preserving the traditions that have made it a beloved part of Amarillo’s identity for generations.
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