Land acquisition?

[astraltravel]

There is a large display ad on p.B10 of the Wall St. Journal, (today, 9.13.05) taken out by a company called Kennedy Funding which states:
“Kennedy Funding is pleased to announce it has loaned $40,000,000 to Buena Vista Corporation Orange County, Florida for the acquisition of a 214 acre mixed-use tourism development four miles from the Disney Main Gate.”
Does anyone have any info on this? :earsboy:

[DoxaRich]

This wouldn't be the old Splendid China park, would it ?

[astraltravel]

I don’t think so. I wonder if it isn’t near Celebration.

[Horace Horsecollar]

Here's the news:

http://www.orlandosentinel.com/news/custom/growth/orl-land0205sep02,0,4397991.story?coll=orl-news-growth-headlines (may require registration)

I won't reproduce the entire article due to copyright considerations, but here are the first two paragraphs:

Resort slated for land next to Lake Ruby
The first phase, which includes a condo hotel, is scheduled to open by 2008.

Jack Snyder | Sentinel Staff Writer
Posted September 2, 2005

A large block of prime land just north of Lake Buena Vista and Walt Disney World has been purchased for the development of a giant mixed-use project with condominium hotels, restaurants and retailers.

Buena Vista Corp., an Orlando company led by Shamanand Kuldip Maharaj, bought 214 acres on Palm Coast Parkway near Interstate 4 for $47.5 million. The property has been known as Ruby Lake Ranch and, more recently, as Marbella.

[DoxaRich]

Okay...I know the parcel they're talking about.

astraltravel, are you confusing Buena Vista Corp as a Disney owned subsidiary ? If so, understand that Disney is not involved with this at all.

[astraltravel]

Ah so.
Yes I was, and was envisioning a new theme park or at the very least, a resort. Thanks for enlightening me.

[peter11435]

Ah so.
Yes I was, and was envisioning a new theme park or at the very least, a resort. Thanks for enlightening me.
Lets not forget that Disney already owns all of the land it needs. If they were building a new park or resort there would be no need to purchase more land. That said if you pay close attention to state property records you can get an idea of whats to come. Undeveloped land in WDW is technically owned by the 'Walt Disney World Co. ' However land that is used for parks and resorts (non-DVC) is owned by 'Walt Disney World Hospitality and Recreation', land for DVC resorts is owned by the 'Disney Development Company.' Thus every now and then you will see a large parcel of land that is sold for a small amount from one division of the company to another, this is a good sign of future development.