In a move that may come as a surprise to some fans of the entertainment and theme parks that it offers, the Walt Disney Company has recently unveiled plans for a new excursion into residential real estate markets after more than 10 years of no new development in the vacation home market near its Walt Disney World in Orlando, Florida. Vacation homes are what Disney will focus on and while they admit the possibilities for great profit should the housing industry have the rebound many predict, some analysts remain uncertain about the potential of the project versus the risks involved for Disney. With homes priced between $1.5 million and nearly $10 million, it could be a dangerous venture since the state of Florida has one of the highest rates of foreclosure in the United States at this time. Orlando has also experienced a drop of nearly 60% from its peak prices and Disney’s prices for its homes would place its offerings at the very highest point in the market or very nearly so. Average homes in the Orlando area, say analysts, are currently around $243,000 for new listings.
Disney has stated that they believe the luxury home market is on the way back up and that the company needs to be a part of this rebound. By focusing on a 980 acre development called Golden Oak, the new plan will offer not only 450 homes, but also a Four Seasons hotel with 445 rooms in all. The hotel itself will be in the center of the planned housing project and all the homes will be close to an updated golf course.
