The Walt Disney Company bought 965 acres of Osceola County, Fla. ranch land this past Thursday, Dec. 13, for $23 million. The land is now zoned for development, according to GrowthSpotter and the Orlando Sentinel.
The ranch was original envisioned as a master-planned community that would be comparable to Celebration, which was built by Disney.
However, Jerry McGratty, the broker and owner of Westhampton Reality and court-appointed receiver of the property has said that the project will likely remain shelved. Disney was mostly interested in the property for conservation and “water management needs.”
“I do not believe they will ever develop it,” said McGratty to GrowthSpotter. Disney had no comment on the land purchase.
As a result, it is believable that this area will not be used to develop any future attractions, parks, or resorts, but rather to help “mitigate wetland impacts as a result of new construction in the Disney theme parks and resort areas,” according to the Sentinel.
To learn more about this new land purchase, visit GrowthSpotter.com.