The boundaries of the Walt Disney World Resort may have gotten just a little wider.
Orlando Business Journal’sJack Witthaus and Richard Bilbao report that The Walt Disney Company’s Compass Rose Corp. purchased approximately 235 acres of land just south of Reedy Lake, on the northwest edge of the resort property. The sale, completed on Monday, was for $6 million, valued at around $25,321 per acre. Disney purchased the land from Lake Reedy, LLC, based in nearby Winter Park, according to Orange County records. (Lake Reedy previously purchased the land in 2005 for $1.3 million.) The land sits across from Disney’s Palm, Magnolia, and Oak Trail golf courses.
The reason for this purchase still remains a mystery. One theory posed by John Gerner, managing director of Leisure Business Advisors LLC in Richmond, Virginia, is that Disney may decide to use the land as an undeveloped barrier to keep outside companies from moving in near the resort.
However, its location may offer other uses. The land sits near the future site of Flamingo Crossings, which will be home to apartments and value-oriented hotels, shopping and dining. and could be home to potential expansion or a similar independent site, according to Gerner. But the fact that it surrounds Reedy Lake may offer another concept altogether. As Gerner explained: “It could be used for a more upscale, exclusive getaway that feels isolated on the edge of Disney property. They can have their own lake with the amenities of a getaway spot.”
While there’s no official confirmation, it’s estimated that Disney owns roughly 30,000 acres in Central Florida. Disney’s 215 Celebration Place LLC purchased the 965-acre BK Ranch LC in Osceola County for $23 million in December 2018, and 1,575 acres adjacent to the ranch from the estate of Frank E. Brown for $11 million in January 2019.
While we still don’t know what it will be used for (or even if it will be used at all), 235 new acres of land mean a world of possibility at Walt Disney World.
Keep reading WDWNT for updates on this ongoing story.
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Matthew has been a writer for WDWNT since June 2018. He probably should have realized he was a Disney Parks fan when he tried to make a model of the Horizons building in middle school shop class. (It didn't go well.) He is also a huge Muppet fan, and can also be found on ToughPigs.com. You can email Matthew at matthew@wdwnt.com.
Greetings, enthusiasts of the magical realm that is the Walt Disney World Resort! I am a seasoned aficionado of all things Disney, steeped in the intricate tapestry of its history, expansions, and strategic moves that shape the landscape of this beloved entertainment empire. As a devotee with an acute awareness of Disney's dynamic business decisions, allow me to delve into the recent acquisition of 235 acres near Reedy Lake, shedding light on its significance and potential implications.
The purchase of this vast parcel by The Walt Disney Company's Compass Rose Corp. for a cool $6 million, or approximately $25,321 per acre, is a noteworthy event in the ongoing saga of Disney's expansion endeavors. This transaction, meticulously documented in Orange County records, involved the acquisition from Lake Reedy, LLC, with the land's previous sale in 2005 for $1.3 million marking an intriguing point of historical reference.
Situated just south of Reedy Lake, on the northwest fringes of the Walt Disney World Resort, this newly acquired expanse of land holds the promise of uncharted possibilities. Speculations abound regarding Disney's motives for this purchase, with one compelling theory suggesting the establishment of an undeveloped barrier. According to John Gerner, a luminary in the leisure business consultancy realm, this barrier could serve to ward off external entities encroaching on the resort's territory.
However, the proximity of the land to the future site of Flamingo Crossings adds a layer of complexity to the speculation. Flamingo Crossings is envisioned to be a hub featuring apartments, value-oriented hotels, shopping, and dining. Gerner postulates that the land might be earmarked for potential expansion or as an independent site complementing Flamingo Crossings.
Yet, the plot thickens as we contemplate the picturesque surroundings of Reedy Lake. Gerner tantalizingly suggests that Disney might be considering a more upscale, exclusive retreat on the edge of its property—a secluded getaway with the allure of a private lake and amenities befitting such an escape.
While the true purpose of this acquisition remains shrouded in mystery, it adds another layer to Disney's extensive Central Florida holdings, estimated to be around 30,000 acres. This move follows the acquisition of BK Ranch LC in Osceola County and adjacent acreage from the estate of Frank E. Brown in 2018 and 2019, respectively.
In the grand tapestry of Disney's ventures, these 235 acres signify a world of possibility. Whether it becomes a bastion against external forces, an extension of the Flamingo Crossings vision, or a luxurious lakeside retreat, only time will unveil the magic that Disney has in store for this enchanting piece of land.
Stay tuned to WDWNT for the latest developments in this unfolding story, and may your Disney adventures continue to be filled with wonder and excitement!
