Nick Hotel. Not very high end, but kids will LOVE it! Coco Key is okay, it has a water slide area, but that's it. And you don't have to stay at the hotel to use the water park area...so it gets crowded with "locals" and others staying closeby on International Drive. Nick Hotel includes the water park, mini golf, basketball area, nick-style live game shows, nick jr character appearances, food court w Subway and Pizza Hut, 4D movies (extra costs), and has a VERY strict policy about only hotel guests using their facilities! You can't even
purchase extra waterpark passes for non guests...at all! You might be able to find a weekend deal.
I do have another recommendation for you...there is a park near the entrance to Downtown Disney called Dr Phillips Park. It's our community park where we have picnics, play volleyball, ride bikes, etc. Believe it or not, it's very suburban

Welllll, there is a splash pad there that the kids love and costs only $1. If you stay at The Sheraton Animal Safari Hotel or somewhere else near the intersection of 535 and Apopka Vineland, you'll be less than 5 minutes from Disney and less that 5 min from DP Park.
Or, you could stay in downtown Orlando (Embassy Suites ?) and walk to Lake Eola...ride a boat in the shape of a swan, incredible farmer's market on Sundays with yummy Food Truck vendors, play in the park, and feed the ducks.
I'm not sure about the rates at any of these hotels. I'm sure you'll have a great time wherever you stay!