That is the viewing area for the old Light Magic parade. The parade lasted for the summer of '97 and never was run again. The viewing area remained and is a great place to get close to the any parade without staking out a spot hours in advance.
Thanks! I enjoyed a nice turkey leg there one evening. Interesting that they built it just for that purpose and that the show only lasted for one summer. I've seen some here talk about/bemoan changes made over the years to address crowd flow so I guess this improvement sorta falls in line with those efforts.
EDIT: Just read the Light Magic article on Wiki. Sounds like it's rollout was a train wreck and the show received poor reviews by the public. I also saw the name Pressler which I understand is not favorably viewed in DL fan circles.