Around this time last year their were a lot of rumblings that if the WWE signed back with NBC Universal that a physical Hall of Fame building could become a reality. However, the buzz around that idea fell off almost as soon as they resigned with NBC last year, but now the buzz has returned. Now not much details are known at this point other then the rumors of a WWE oriented building being put in on the Universal City walk.
Something thing that we do know is Universal Studios decided not to renew the NBA's lease on NBA city and that building will be shut down in August. Right now it seems more possible for just a WWE Hall of Fame themed restaurant to start before a physical building. But one has to keep in mind that WWE has developed a strong presence in Orlando over the last year with the Performance Center and NXT being so successful, so you never know.
I firmly believe that not only would a physical Hall of Fame give the WWE an area to do the Hall of Fame every year if they so chose, but also it would add some legitimacy to the Hall of Fame which is something it is very lacking. I for one would be extremely happy to see a physical WWE Hall of Fame be built, because the WWE has so much history to share and nowhere to share it and it may also make people get less mad when a celebrity gets inducted into the HOF if they know that the celebrity isn't going to be in the same wing as the wrestlers are. Just a thought who knows what the future holds, but it would be a great step.