Disney has sold off approximately 26 acres of land next to Disney’s Vero Beach Resort, according to TC Palm‘s Colleen Wixon.
DVCNews.com reports that the land was previously earmarked for a resort expansion that was ultimately canceled due to low timeshare sales at the resort. The land that was sold is west of the resort’s parking lot, on the western end of S.R. A1A, not including the existing resort support facilities, recreation and parking facilities on that end of the road. The pond adjacent to the facilities is included in the sale.
The land has been sold to GHO Homes, who will build single-family homes and attached villas on the property. The residential development is still being designed, with sales likely beginning in 2021. GHO Homes’ president, Bill Handler, did not reveal the purchase price of the property. Earlier this year, the 32.6 acres of the resort was appraised at $4.6 million, according to Indian River County records.
This sale is not expected to affect existing operations at Disney’s Vero Beach Resort. Disney Vacation Development, Inc. has not issued any comment on the manner.
Keep reading WDWNT for any updates on this ongoing story.