First reported by Orlando Business Journal, the company has just closed a deal to acquire more land near Walt Disney World Resort.
On March 31st, an entity with ties to The Walt Disney Company bought 26.3 acres for $1.05 million, or roughly $39,923 an acre. The land purchased from Lake Reedy Development Group LLC by Celebration Co. and is located to the west of Magic Kingdom, near the southeastern shore of Reedy Lake.
Just last December we reported to you Compass Rose Corp., a subsidiary of Disney, purchased 235 acres of land from Lake Reedy LLC. This land is situated northwest of the Oak Trail Golf Course.
While it’s unclear if Disney is really considering expansion projects right now, especially since all construction has been delayed, they could be securing additional land to have as a physical asset moving forward. That way, Disney could use the land for conservation to “buffer” the property or grow Walt Disney World Resort further on down the road.
Disney already has numerous projects in the works such as the Epcot transformation including Space 220 Restaurant, Remy’s Ratatouille Adventure, and Guardians of the Galaxy: Cosmic Rewind along with TRON: Lightcycle Run and the Star Wars: Galactic Starcruiser hotel. So Disney World already has a bit on its plate in terms of projects and construction.
We’ll continue to follow this story and update you with anything we hear!
In the meantime, you can check in on how Cinderella Castle’s refurb was going last time we saw it here!
What do you think of Disney’s decision to purchase more land? Tell us your thoughts in the comments below.