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 Disney News, Disney World News |
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Last Updated: Apr 7, 2008 - 7:17:27 AM
Mar 28, 2008
Preliminary plans are underway to build luxury housing at the site of Disney's Eagle Pines Golf Course. Due to its location, the project is termed "The Northeast Resort."
The upscale gated community will include a mix of million dollar estates, condominiums, cluster, village and courtyard homes and timeshare units.
Previously, Disney announced plans for Four Seasons to build a luxury resort at Eagle Pines. Disney spokeswoman Marily Waters stated "This is in essence the coming together of the Disney brand and the Four Seasons brand. This is the first time that has happened. These are often the types of places people come in for two or three weeks, then they won't be back for several months."
The multi-million dollar mansions are expected to be marketed to wealthy overseas buyers. William Weaver, Real Estate professor at the University of Central Florida commented "I can't see many Americans buying multimillion-dollar second houses on Disney property, not very many. But I certainly can see foreigners. As the dollar keeps deteriorating against everything else, it becomes cheaper and cheaper."
Disney has begun the process of de-annexing the property from their Reedy Creek Improvement District and Lake Buena Vista and Bay Lake. Similar steps were taken prior to Disney developing Celebration and Little Lake Bryan.
Site preparation is already underway with the first houses expected to be begin construction this year. When completed, the development could house 1072 people. Most of the homes will be custom built and it is estimated that it could take ten years to reach completion.
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