After 40 years, Wet 'n Wild Orlando announced Wednesday that it will close for good at the end of 2016.

"Since it's opening in 1977, Wet 'n Wild Orlando has been a place where guests have created wonderful memories," a statement on Universal Orlando's blog states. "As America's first water park, Wet 'n Wild has been the birthplace of numerous innovations that are now considered a common part of the water park experience."

The park will officially close Dec. 31, 2016.

According to the blog, Universal Orlando will now focus on the opening of Volcano Bay, which is expected to open in 2017.

Universal Orlando recently purchased land around the water park for future development.

People piling into the water park on this hot June day say they will miss it.

“We do look forward to coming here when we come on vacation,” said visitor Jeff Grundage.

“Its just fun to come to in the summer,” said Sonny Williams.

One of Wet 'N Wild's most attractive features was its affordability. The family-friendly wave pool and slides were also a draw.

The Themed Entertainment Association ranks Wet and Wild as the fourth most popular water park in the U.S. It's behind Disney's Typhoon Lagoon and Blizzard Beach at Walt Disney World, and SeaWorld's Aquatica in Orlando.

Wet 'n Wild wasn't Orlando's first water park: River Country USA at Walt Disney World first opened in 1976 and closed in the fall of 2001.

Even though River Country opened first, the World Waterpark Association credits Wet 'N Wild with being the first official waterpark, and called the park's developer George Millay the "Father of the Waterpark Industry." Millay also developed SeaWorld.

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Wet 'N Wild's impact on I-Drive

Jerry Pierson knows all too well the memories made over four decades at Wet N Wild.

"Wet N Wild was here, before Universal was here," Pierson said.

The Vice President of ITEC Entertainment leads a team who designs water parks around the globe. Early in his career, he designed a slide at Wet N Wild.

"I think a lot of families have created a tradition by going to Wet 'N Wild from the 80s, 90s and up to now," Pierson said. "Those families will have to switch their tradition to the new Universal park."

Two blocks from Wet 'N Wild, you'll find the Fun Spot's Bumper Boats and a hint of what's next on International Drive.

"Wet 'N Wild was like the heart of it all," said John Arie Jr., CEO of Fun Spot Theme Parks.

"It's an exciting time for us," Arie added. "I can tell you, we do have some water features we've been looking into."

With the void left two blocks away, the Fun Spot has plans to add the beginnings of a water park, with small slides, a lazy river and a possible log flume. The Fun Spot's parking lot could become future expansion for a larger water attraction, while 12 acres nearby could then become parking."

Meantime, the Aries are not concerned about what future plans Universal has in the works.

"As I've heard a lot lately, in a rising tide all ships rise. And I believe that's going to happen," Arie said.

The Aries said they expect to have phase one of their water attraction open within a year to 18 months, before Wet 'N Wild closes.