With Disney College Program apartments now located at Flamingo Crossings, a California-based real estate firm has purchased a complex formerly used to house DCP participants.
Orlando Business Journal‘s Richard Bilbao has reported that Trion Properties has purchased the 384-unit Patterson Court complex for $107.75 million. Located off International Drive east of Walt Disney World (and south of the Orlando Vineland Premium Outlets), the building was previously owned by Miami-based Fifteen Group and San Francisco-based Meritage Group LP. Disney retains a triple-net master lease on the building until April 2023, according to a statement from Trion.
Bilbao added that Trion plans to undergo a “heavy” renovation of the property to accommodate more more traditional multifamily residents.
Much closer to Walt Disney World, Flaming Crossings Village now serves as the home to Disney College Program apartments, just steps away from a growing number of shops and restaurants, including Starbucks, Hash House a Go Go, Walgreens, and Target.
For the latest Disney Parks news and info, follow WDW News Today on Twitter, Facebook, and Instagram.
How about the theme parks pitch in for affordable housing for their employees? You would need to work at least part-time to stay there. They don’t need more upscale price apartments.