Disney To Sell Luxury Homes Near Orlando Theme Parks

Disney To Sell Luxury Homes Near Theme Parks

ORLANDO, Fla. — The Disney Company announced Wednesday that it’s getting into real estate by selling luxury homes in Orlando near its theme parks. Some are calling it Disney’s new thrill, because of the up and down housing market. Disney believes the homes will sell, despite a down market and despite the fact that Florida’s foreclosure rate remains among the nations highest. Disney has decided to move forward with plans to create a luxury residential community called Golden Oak. The Golden Oaks community will offer homes ranging from $1.5 million to $8 million. The price range will put Disney’s homes near the top of the market. The development will be almost 1,000 acres and include 450 homes and a Four Seasons Hotel with nearly 500 rooms. Buyers interested must deposit $25,000 to be placed on a reservation list. All the homes will be on Disney property. The company hopes they will sell, because people will actually want to live at Disney. Disney estimates it could take eight to ten years to complete the Golden Oak complex, but they plan to start to sell the first 30 lots right away and have the first homes completed in 2011.