Disney has purchased about 235 acres of land located west of Magic Kingdom. The land is also nearby Disney’s Grand Floridan Resort, Disney’s Oak and Magnolia golf courses, and Disney’s solar farm – which is visible from State Road 429. This purchase is according to records filed with Orange County, as well as an article on the Orlando Business Journal site.
The cost? About $6 million dollars, or just over $25,000 per acre. For comparison purposes, the first acre of land Disney purchased in central Florida cost about $80. How times have changed…
The purchase was made by a Disney subsidiary called Compass Rose Corp. The land was purchased from a company in Winter Garden called Lake Reedy LLC. In turn, Lake Reedy, LLC purchased the property for $1.5 million in 2005, so they probably made a nice profit.
Land Purchases Happen
Disney occasionally buys and sells land in the Orlando area. Back in 2014, Disney purchased 350 acres, possibly for environmental mitigation purposes.
The last 12 months, however, have been an active time for purchases.
Disney purchased the 965-acre BK Ranch in late 2018.
Disney also purchased 1,500 acres of land in Osceola County in January 2019. That purchase was near Poinciana Boulevard, is not connected to Disney’s main property.
That purchase was rumored to be a transaction from the estate of a central Florida cattleman who refused to sell his land to Disney’s shell companies in the late 1960s when Disney was originally gathering land for Disney World.
What Will Disney Do With The Land?
Disney has not made any announcements about its plans for the property.
Personally, I doubt that Disney will directly use this land (or any land) for a fifth theme park any time soon – even though Universal is building a new park.
They could use the land for new resorts, for environmental land mitigation, or just to create an additional buffer to keep other organizations away from existing Disney property.
Excited to hear Disney is purchasing more land? What should they do with it?