We are able to confirm WWE is in a period of exclusive negotiations with the city of Orlando, Florida for a physical WWE Hall of Fame tourist attraction. If the deal goes through, the preliminary plan is to move developmental from Tampa to Orlando as the attraction is set to contain other elements as well. In addition to this, another component of the deal is for Wrestlemania to return to Orlando on a regular interval although it's unknown how often that would be.
Orlando wants to be the host city for Wrestlemania at least twice every ten years while WWE so far has only agreed to return to the city once every decade. At this point WWE doesn't anticipate it being a deal breaker and the company is already scouting locations in Orlando for where the Hall of Fame would be built.
There is some debate about the branding of the attraction as well. Not only would it be a Hall of Fame but there's talk of including a lot of elements currently featured at WWE Fan Axxess events. As things stand now, the soonest WWE would be looking to open this to the public would be 2014 but talks are "very serious."
My source cautioned the WWE Network has slowed the process and Vince McMahon hasn't been able to make the physical Hall of Fame a priority. In the meantime, Triple H has been doing a lot of the decision making regarding the project although things are moving slowly.