Disney Purchases Approximately 235 Acres of Land Near Walt Disney World in $6 Million Deal

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The boundaries of the Walt Disney World Resort may have gotten just a little wider.

Orlando Business Journal’s Jack 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.

About the author

Matthew Soberman

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 [email protected]

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Scottu
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Scottu

The Disney Star wars trilogy stinks.

IsaacM
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IsaacM

Which one?

Bob
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Bob

The only stench my nose detects is irrelevant troll commentary.

Stephanie
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Stephanie

Heresay is Walt wanted the resort kept in equal thirds divided between park areas, resort areas, and undeveloped areas. This newly purchased area may be kept as is.

James
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James

Could certainly see another Golden Oaks development moving in. It would be nice to see a road from about the Grand Flo area over to 429, too. Time will tell I guess.

Mandy
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Mandy

Great profile photo!

Angie
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Angie

They should have their own road system. I-4 Is already jammed up enough because of Disney.

Angie
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Angie

They should have their own road systems bypassing I-4. It’s already so jammed up because of the parks.

Daniel
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Daniel

They’ll probably build their train station there.

John Abraham
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John Abraham

Certainly it’s just a matter of time before they open a fifth gate, right? Another gate means they add another day to the average guest’s trip. Would be interesting to see what it would be themed around.

Steve
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Steve

I don’t think there will ever be a fifth gate. While I would love to see it, Disney is already having trouble keeping up with four gates. We already complain enough about how they have been slipping on maintenance, having attractions that are long overdue for refreshess, monorails that need replacing, etc. Building a new gate would cost easily 2 Billion… which means there wouldn’t be any money for anything else. Plus, after they finish with SW:GE and all the work at Epcot, they are probably going to want to pull back on capital spending and coast a little.

Stephen Pynn
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Stephen Pynn

probably for more solar panel fields.