At it's best--the area will only provide about .59 acres of space for them to grow in. Internally it has been said for this to be a Utility Events Space--as it does not seem to be defined for new permanent experiences coming to the park.
From those I've talked too; the plan has apparently always been in place for this to be a new home for seasonal, specifically HHN (and presumably FFN, but that bit hasn't been confirmed to me).
The problem that happened--is that some people spun this off to be a bigger piece of a long term plan for UC/UDX; and not for the notes you bring up. (I say as someone who also didn't really help at first on the subject of getting an understanding of what this truly is now).