Disney To Sell Luxury Vacation Homes
Walt Disney Co plans to unveil its first foray into residential real estate
in more than a decade with a pricey vacation-home development in Florida's
Walt Disney World.
Disney will offer homes priced between $1.5 million and $8 million. which
would put its homes near the top of the market.
Disney believes the market for luxury homes is rebounding.
The proposed 980-acre development is expected to eventually
encompass 450 homes and a 445-room hotel.
Plans also call for a clubhouse, parks and pedestrian walkways, with
wetlands and other conservation area comprising about half the project's
acreage.
Fewer than 30 lots will be available for sale this year, with the first
homes expected to be finished in 2011. The timing and scale of a second
phase that may offer fully-built homes remains undecided. Disney estimates
the development could take eight to 10 years to complete.
Posted: 23 June 2010
Source: Wall St Journal
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