Michael Jackson Neverland Ranch Could Be Turned into Teen Music School

famous Neverland Ranch in California could possibly continue the late King of Pop's love for music and the arts.

Colony Capital owns the massive property and hopes to turn the sprawling estate -- which previously included a zoo and theme park complete with a Ferris wheel, rollercoaster, and railroad -- into a Juilliard-like school for teens sharing a passion for music. (The Juilliard School, located in New York City, is a famous college known around the world for its drama, dance, and music programs.)

But turning Neverland -- where MJ lived for 17 years -- into a thriving where teenagers can flourish in the arts isn't a done deal yet.

What's the hold up? Santa Barbara County officials will need to give their approval before plans move ahead for the new school.

It's also not known yet whether or not the campus will include Michael's name as a tribute to the former owner and music legend.