“An entity related to Burbank, California-based The Walt Disney Co. has scooped up more land near Magic Kingdom.
On March 31, Celebration Co. bought 26.3 acres for $1.05 million, or roughly $39,923 an acre, west of its theme park and on the southeastern shore of Reedy Lake, Orange County records showed. Winter Garden-based Lake Reedy Development Group LLC was the seller.”
Just last December, Disney purchased an adjacent 235 acres for $6 million. Land purchases such as these are typically related to future developments. Despite current financial setbacks for the company, land is still a finite commodity that can hold its value over the years. Whether this area will be used for a future expansion, resort, or simply additional landscaping to further the secluded ambiance of Walt Disney World Resort is unknown. The land’s proximity to Reedy Lake has also been attributed to a potential upscale, exclusive getaway on the edge of Disney property, but nothing is confirmed yet.
Disney has not made any official statements regarding the land purchase.