It's been home to an Observation Wheel since being demolished in 2018.
The leader of Scarborough Borough Council says we should know more about what is happening at the site of the former Futurist Theatre by the end of the Summer.
The venue closed in 2014 and was demolished four years later.
Since then it has been home to an Observation Wheel and a mini-golf course.
Cllr Steve Siddons said:
"I can't say too much about that at the moment but we have interest in the top part of that site and we are continuing to talk with Flamingo Land who are working up their plans for the bottom part of the site.
"So I hope before the end of the Summer, we'll be able to make some announcements on what's going to be the long term future of that site, but it is quite exciting."
Many people still say they miss having an outdoor swimming pool as the town previously had two.
Steve added:
"We can all look back and think those were heydays. I'm not an expert on the history of these two sites but probably the reasons why they did fail was because there wasn't enough people who use them."
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Future of Scarborough's former Futurist Theatre site revealed soon - Free Radio
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