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DreamWorks, the studio that brought us movies like "Shrek," "Madagascar" and "Kung Fu Panda," announced plans for an indoor amusement park at the Meadowlands.

The preliminary design calls for rides and attractions, including a 25-story ferris wheel and a separate water park.

"It's the most exciting announcement I can ever remember in terms of entertainment in the New York metropolitan area," said project spokesperson Alan Marcus. "Having DreamWorks come out and become part of the Ghermezian family's American Dream Meadowlands is just terrific."

However, the entire project remains in limbo due to a lawsuit filed by the Jets and Giants, who are seeking to block the developer from building anything due to traffic concerns.

DreamWorks said the plans will move forward despite the lawsuit.