According to Biz Journals, Disney has sold two parcels totalling eight acres from its Flamingo Crossings land to a company called the Orlando Hotel Group LLC. Records filed with Orange Country show the group purchased the land for $8.05 million. The same group purchased seven acres in the same area last month for $9.95 million.
From Biz Journals:
The parcel of land sits just west of the existing Flamingo Crossings developments, which include a 248-suite SpringHill Suites and 250-suite TownePlace Suites that opened on Feb. 12. Directly south from the land is Orange Lake Resort.
Orange County property records show that 26.83 acres of the total 158 acres of land is designated as “vacant commercial.” The remaining land is designated as waste land (68 acres) or timberland planted (63 acres).
In May, Flamingo Crossings, which is a Walt Disney Imagineering masterplan property, was seeking rezoning land to build 1,300 multifamily units and 150,000 square feet of commercial space. That property was broken into four larger parcel and was intended to be developed in phases.