The attractions and rides that remain from the original 1925 park includes the Giant Dipper, a wooden roller coaster that is listed on the national register of historic places. Another historic facility is the plunge, an indoor swimming pool. The plunge was originally a salt water pool called the Natatorium and was the largest saltwater pool in the world; it now contains fresh water. In 2014, the CCC approved plans to remove a portion of a large mural by artist Wyland during planned renovations. The plunge was closed in 2014 due to disrepair. Plans to demolish and rebuild the plunge were approved in January 2016. It reopened in 2019 over the fourth of july weekend after a 12 million renovation. In 2002, the businessman/surfer Tom Lochtefeld bought the master lease for the property and started development of the Wave House. In November 2012, Pacifica Enterprises LLC acquired the park leasehold in a bankruptcy trustee sale. They assumed operations of the park and started a restoration and revitalization of the park. In the early 1980’s, the San Diego City Council led by then councilman Mike Gotch called for proposals to redevelop Belmont Park and clean up the area, which had fallen into disrepair and developed a seedy reputation. On November 3, 2010, Wave House Belmont Park LLC filed for Chapter 11 bankruptcy in US Bankruptcy Court citing a 700% increase in rent owed to the City of San Diego as the reason. Tom Lochtefeld, Belmont Park Manager Member, alleges the city has breached its lease agreement. In 2011 Lochtefeld filed a $25 million lawsuit against the City of San Diego accusing the city of breach of contract and fraudulent misrepresentation for preventing him from completing a second major expansion of the park including adding a hotel. That suit was settled in November 2013 after Lochtefeld decided not to pursue the case against the city.

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