According to reports, The Walt Disney Company has purchased 965 acres of Osceola County in central Florida for $23 million. The property is located southeast of Celebration and is zoned for development. However it’s believed the land will not be developed, but instead used for water management needs.
- The Orlando Sentinel has reported that in addition to acquiring the BK Ranch property, The Walt Disney Company has also purchased the adjacent land belonging to the family of legendary cattle rancher Oren Brown.
- Decades ago, Disney had tried to purchase the land from Brown for the original theme park, but Brown refused.
- Now the family has agreed to sell most of the remaining ranch property to Disney for $11 million.
- The deal closed on January 3 with Disney acquiring 1,575 acres of land. Disney purchased all of parcel 1 (620 acres) and portions of parcels 2 and 3.
- The Sentinel writes that Parcel 4 is slated to be a resort development.
- As with the BK Ranch purchase, this land is expected to be used for water conservation and wetland mitigation.
What they’re saying:
- John Adams, a partner with Central Florida Land Advisors: “Because of the nature of the property, it would be a prime candidate for a mitigation bank.”
- Adams regarding the price of the Brown land: “The BK Ranch was entitled for 3,000 homes. There were no entitlements on this property, and that was reflected in the sales price.”
- The Orlando Sentinel has reported that, The Walt Disney Company finalized a purchase for 965 acres of land in Osceola County, Florida on Thursday.
- Known as the BK Ranch, the land is located on Old Tampa Highway about a mile west of the Poinciana SunRail station.
- According to reports, this area is already zoned for development and has been envisioned for years a master-planned community similar to the Celebration neighborhood.
- The ranch’s plan call for 3,000 homes and 378,000 square feet of commercial and office space. Disney reportedly spent $23 million to acquire the land.
- The Orlando Sentinel writes, “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.” McGratty was also quoted as saying: “I do not believe they will ever develop it.”
- In 2014, Disney purchased a a failed 3,000-acre residential development south of Poinciana to help reduce their impact on local wetlands due new construction of parks and resorts.
- Those interested in more details and news about the BK Ranch purchase can visit GrowthSpotter,com and subscribe for article access and updates.