Thursday, August 26, 2010

Luxury Homes in Disney World!

According to the Wall Street Journal, it's the latest idea from Disney, creating a development of luxury homes allowing for a new way to experience "Disney" and the Orlando area. The Golden Oak housing development will offer homes from $1.5 to $8 million. It is expected to hold 450 homes and a new Four Seasons hotel. There are plans for a clubhouse, parks, walkways, and a wet lands conservation all of which is expected to be completed in 8-10 years. Considering the fact that the area holds one of the highest foreclosure rates in the nation it is quite an interesting marketing idea, no?

But it isn't the first time that Disney has created a housing development. Celebration was a 4900 acre community built adjacent to the theme parks in the mid 1990's. But it was a much different idea, there were apartments available for $600 a month all the way up to single family homes at $4 million. It encompassed an opportunity for a larger variety of people to move in, unlike the highly inflated Golden Oak resort community.

I'm not sure that I would take as big of a gamble considering the state of the economy and the housing market in general let alone the horrid housing market in the Orlando area! But it IS Disney... if anyone could succeed in such a venture it would be Disney, Oprah, or Donald Trump right?! So we shall see how this plays out.

All you need is a $25,000 deposit to get on the sales reservation list.


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