I've stayed in Magnolia Terrace twice. It is a very nice building with a nice rose-lined brick path leading up to curving stair cases outside. We had standard view rooms on both occasions, and found them to be fine. We were on the 2nd floor overlooking the circular driveway both times, so there wasn't much noise from the traffic.
Also, the bus dropped us off right near our building, so we didn't have a long trek from the bus stop in the evening after being at the parks.
The walk from the building to the food court, boat launch, etc. is slightly longer than Oak Manor, but not by much. It's a nice walk anyway, so I wouldn't worry about it too much.
I think you'll like it!