The Houston Livestock Show and Rodeo says it's in the early stages of redeveloping the space. It's currently being used as extra parking for the Rodeo.
HLSR President and CEO Joel Cowley tells Eyewitness News the Rodeo wants the site to serve multiple purposes, such as holding educational exhibits and events, and add to its agricultural mission.
Cowley says all plans are conceptual at this point.
Six Flags AstroWorld turned 50 years old in June. The beloved theme park was first brought to the city in 1968 by former Houston Mayor Roy Hofheinz.
It shut down on October 30, 2005, citing declining patronage and the rising value of the theme park's more than 100 acres.
Many Houstonians took the park's closing hard, with nothing ever taking its place.
Take a look back at AstroWorld through the years.
Remembering Astroworld