Disney is planning a new gated luxury home community on the property adjacent to the Eagle Creek and Osprey Ridge golf course. It was rumored that a Four Seasons resort was to be built on the site, but now rezoning plans for a single family development are floating around the offices of Orange County Planning. The plans are for a luxury home development encompassing 429 acres with as many as 373 single family homes, 200 multifamily, and 60 timeshare units to be completed over the course of the next 10 years. Any property here will cost at least a million dollars and mostly built to order.
Disney’s track record with residential development in Central Florida has been superb with Little Lake Bryan and Celebration enjoying huge success. I would imagine this new community will be highly anticipated even in this depressed market. Disney began Celebration in a depressed market and it still did quite well. The Sentinel reports that site preparation work is under way and the minor zoning changes required for this project will most likely be approved.