Upon a little research on the Newhall Ranch Land Development project, it was revealed that Magic Mountain might own less land behind the park than we all think. The sign behind X2 at the Magic Mountain Parkway dead end indicates that the land directly behind Magic Mountain will consist of: 44 condo lots with 4,030 multi-family units, 11 mixed-use commercial lots with 1, 555,100 square feet of Commercial office. Rumored is a golf course, 7 public schools, 3 fire stations, 3 parks, and lake. This area has been planned for 15 years and would consume the back land of the park as well as the far side (Batman, Apocalypse side). According to sources, ground-breaking will begin sometime in 2012, but it's still unconfirmed when the project is complete. So basically, when the construction is finished, Magic Mountain will be surrounded by establishment, not barren hills. This decreases the chance for major expansion of the park around itself, except for the possibility of maybe taking some more parking lot.
The red arrow above points to Magic Mountain. As you can see the majority is directly behind the park, and some around it as well.
Sign at dead end of Magic Mountain Parkway.
It reads- Proposed on this site: Subdivide 16 parcels, 1,261.8 gross acres into 661 lots consisting of 382 square foot lots, 44 condo lots with 4,030 multi-family unit, 11 mixed-use/commercial lots with 1,555,100 square feet of commercial, retail & office space, 150 Open space lots for: Spineflower preserve (nature preserve), rec facilities, fire station, bus station, library, school, utility uses & roadways.