Universal Orlando Resort ORLANDO, Fla. (AP) – Universal Orlando Resort is building a water park. Construction has begun on Volcano Bay at Universal Orlando Resort. The new park is expected to open in 2017. It will join Universal Studios Florida and Universal’s Islands of Adventure at the Orlando theme park. Universal says the water park will be an immersive experience themed on “picture-postcard tropical islands.” It will be located within Universal Orlando Resort, just south of the Cabana Bay Beach Resort.