HALLANDALE BEACH, Fla. -

Drivers on U.S. Highway 1 near Hallandale Beach Boulevard have likely wondered what in the world crews are building at Gulfstream Park.

"I've seen it, but I have no idea what that is," said one man walking past the entrance to Gulfstream Tuesday afternoon.

Construction started about a month ago and every day it's get bigger. Crews are adding concrete and steel, shiny metal. There's scaffolding and two big crane looms overhead -- a real head-turner for drivers on U.S. 1.

"I think it's going to be a building -- an apartment building, no?" asked the man.

Nope. The structure is actually the steel skeleton for a giant statue of perhaps the most recognizable creature in Greek mythology -- Pegasus, a giant horse with wings.

A rendering of the statue obtained by Local 10 shows the Pegasus will appear to be stepping on a dragon.  It I will be 110 feet tall and the centerpiece of a water theme park as Gulfstream, transforms the north end of its property into a playground for kids and families.

"Around here there is a lot of tourists and they like to get something to enjoy, entertainment," said a woman when told about the plans. "It's good, in my opinion. It's very positive."

It's unclear when the Pegasus water park will be complete, but it's already making a splash.