Bonnet Creek Resort Area Update

[JimC]

The parcel of land where the Fairfield Timeshare resort is being developed is back on the market. Walt and company paid a little over $5,000,000 for over 27,000 acres in 1965. I suspect this track will sell for quite a bit more...so if your checkbook balance is large enough you too can own land in the heart of Disney

The entire Bonnet Creek Track is 482 acres and I believe Fairfield took a bit over 10% of it for their project. Should be interesting to see what happens with the rest of it.

 

[Horace Horsecollar]

An article about this subject is at http://www.globest.com/news/60_60/orlando/123912-1.html

This shouldn't change the future of the Fairfield timeshare project, but maybe the next owner of this property will be more successful at attracting the deluxe hotels that were originally envisoned for the Bonnet Creek Resort.

 

[TZMOM]

Friends of mine just bought into Fairfield last week - took the tour etc. & were very impressed. I'm waiting to see what they think.


Jane

 

[PamOKW]

Thanks for the info. I wonder if there's any chance that Disney will buy this property? I'm not sure how they ever let it get away from them in the first place.

 

[Desperado]

Originally posted by PamOKW
Thanks for the info. I wonder if there's any chance that Disney will buy this property? I'm not sure how they ever let it get away from them in the first place.

They don't really need it when you see how much is undeveloped:
http://www.disneypix.com/Multimedia/WholeProperty.jpg

 

[PamOKW]

I realize Disney still has lots of acreage. It just seems odd that this "piece" came into someone else's hands when it's in the middle of the area that Disney has already been developing. It's the first place where non-Disney development can be seen from the Disney resort itself.

 

[Desperado]

Originally posted by PamOKW
I realize Disney still has lots of acreage. It just seems odd that this "piece" came into someone else's hands when it's in the middle of the area that Disney has already been developing. It's the first place where non-Disney development can be seen from the Disney resort itself.

I just don't see Disney shelling out money at it's current value for this piece of land. Seems they wrote it off long ago.

 

[JimC]

Originally posted by PamOKW
Thanks for the info. I wonder if there's any chance that Disney will buy this property? I'm not sure how they ever let it get away from them in the first place.

It was the one parcel that they could not buy back in 1965. Disney continued to attempt a purchase over the years, but could never reach mutually acceptable terms. Needless to say, the owners had a value in mind that exceeded Disney's view.

Luckily most of the RDID land came in about 17 major purchases and at the best price. The rest, about 1000 purchases (I need to check the number), were much smaller and a bit more costly because once someone starts that process it drives up land value.