The Walt Disney Company Purchases 965 Acre Lot For $23 Million Near Celebration

The Walt Disney Company purchased a 965 acre lot located in Osceola County southeast of Celebration this past week for $23 million.

According to the Orlando Sentinal via GrowthSpotter.com, this lot was the previously named BK Ranch and was originally zoned for residential and commercial development.

The big question is, what will Disney do with all of this newly acquired land? Well, the answer might not be all that exciting and it just might lie in one of their most recent land acquisitions. Back in 2014 the Walt Disney Company acquired the 3,000 acre failed Mira Lago project. The project was originally supposed to be a large residential oasis. Why did they buy that land? In short, they purchased the land for conservation purposes to make up for the wetlands they develop for their current and ongoing projects at the Walt Disney World Resort.

As we all know, Walt Disney World has been expanding at a rapid pace. If you have visiting the “Vacation Kingdom” recently you have noticed a lot of land development and over the course of 30 years they plan on developing up to 575 acres of wetlands. If the BK Ranch purchase is similar to the Mira Lago purchase, this land will be used for conversation purposes as it “replaces” the wetlands it develops.

“But Jerry McGratty, broker/owner of Westhampton Realty and the court-appointed receiver for the property, told GrowthSpotter it’s likely the project will stay on a shelf because Disney was primarily interested in acquiring the land for “water management needs” and conservation.
“I do not believe they will ever develop it,” he said.” Orlando Sentinal and Growthspotter.com

If this is more than just a conservation purchase we will sure and keep you informed! Talk about it in our all-new WDW Kingdom Disney Forums!