I live in (the far end from SeaWorld of) that neighborhood. I think it's one thing when you can see the skytower and Kraken peeking over the trees, but it's another when you find out that those trees are vanishing and you realize that people in the park may be able to look into your bedroom window at night.
Some local letters to the editor about this subject have gotten really nasty recently, nastier than rangebob's comment upthread. And of course the local media has come in and found people who do not neceesarily represent the entire neighborhood are showing what they say, thus making it appear that those people and opinions represent the entire neighborhood. They don't.
The thing that a lot of people don't realize is that the neighborhood in question was originally developed as a retirement community 20+ years ago, when SeaWorld was a much, much smaller park than it is now and that end of International drive had almost nothing else on it. I don't blame people -- especially the original owners of those homes, who are elderly (and honestly they are an age when they are starting to die or be forced to go into assisted living homes) -- for being alarmed at how the tourist industry has grown to their doorsteps. They didn't move next door to the airport. The airport expanded into their back yard.
That said, the water park will move forward and I'm looking forward to seeing what they build. Anheuser-Busch has done a great job with Discovery Cove and with the changes/expansions at SeaWorld, and I'm sure it will be one-of-a-kind.