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Orlando Business Journal has broken the news that The Walt Disney Company’s Compass Rose Corporation has finalized the purchase approximately 235 acres of land surrounding Reedy Lake which is situation on the northwest edge of the Walt Disney World resort property across from Disney’s Palm, Magnolia, and Oak Trail golf courses.
Disney purchased the land for $6 million which breaks down to $25,321 per acre. According to Orange County records, Disney purchased the land from Lake Reedy, LLC.
Disney has not released any information regarding the intent of the land but in late 2018, DIsney purchased 1,000 acres of land southeast of Celeration and in January 2019, The Walt Disney Company purchased an additional 1,500 acres of land.
As part of Walt’s vision, Disney World will always remain 1/3 undeveloped and reserved for conservation. There is much speculation as to the purpose of this land including a possible fifth gate or several new resorts.
The surrounding area of this most recent purchase could very easily become home to a new luxury resort or similar offering.
Stay tuned as we learn more.
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(Source: Orlando Business Journal)