Disney Buys Land for Resort in Maryland

[DannyDisneyFreak]

http://research.scottrade.com/public/stocks/news/news.asp?docKey=100-139c8753-1

SmarTrend(R) News Watch: Disney Buys Land for Resort at National Harbor
Tuesday 05/19/2009 11:40 AM ET - Comtex Smartrend(r)

As of 12:00 AM ET 5/22/09
The Walt Disney Company (NYSEIS) purchased a 15-acre parcel of land at National Harbor in Prince George's County, Maryland to build a 500-room hotel, the newest in a series of standalone resorts being built by the company. The deal with Peterson Companies, the developer of National Harbor, is worth $11 million.

So who knows anything about this?

 

[KYMickey]

There have been several other threats on this subject already (an original and one duplicate already). Here's a link to the original thread that already has a couple of pages of information: Disney buys land at National Harbor

 

[DannyDisneyFreak]

okay, thanks, sorry for being redundant, i havent been on here in a while and didnt see the others before i posted.

 

[Mouseaholic!!!]

This one confuses me.

I am very familiar with National Harbor - still under construction.

It is on the banks of Maryland overlooking the Potomac on the south side of the Woodrow Wilson Bridge with a big bridge view. There is nothing else but National Harbor there - and a car ride from all the interesting places in Washington and Alexandria is on the other side of the Potomac and north of the bridge.

You will have to rent a car - you are only within walking distance of stores you have at your local mall - you will have to battle traffic to DC, Alexandria, Arlington or drive to a metro station for the subway (across the bridge) - don't transit the bridge at rush hour.

There have been two very unsuccessful Luxury Boatshows held there - last year the tent fell - I was one of the 3 people trapped under and injured my ankle so I will admit to not fond memories. (but had a great time with my scooter at WDW after!!!)

Objectively.....it is a planned complex so advantages are - it's all brand new. I just do not understand why someone would stay there when there are so many other fabulous - and more convenient - places to stay. 15 acres is small so entertainment will not be self-contained.

I'm sure it will be lovely and if they build it on the south side of the exhisting construction perhaps the view will not be of the Woodrow Wilson Bridge (construction completed on the new bridge so that will not add inconvenience.)

Who is their market? Business people attending conferences at National Harbor?

Checkout Google Earth and see how isolated it is over there --- just drove by on Sunday at the end of our most recent vacation.

Anyway - anybody have any ideas?

 

[Horace Horsecollar]

I'm sure it will be lovely and if they build it on the south side of the exhisting construction perhaps the view will not be of the Woodrow Wilson Bridge (construction completed on the new bridge so that will not add inconvenience.)

The Disney site is on the east side of the existing National Harbor construction. There's a map at http://www.yesterland.com/harbor.html

Who is their market? Business people attending conferences at National Harbor?

According to Jay Rasulo (in the press release), "National Harbor offers an array of entertaining activities for regional visitors, but it is also a family-friendly base camp, from which visitors from around the world can explore the stirring sights and inspirational stories of our nation's capital. We believe National Harbor has the unique opportunity to offer a new level of family-friendly hospitality."

In other words, Disney is primarily going after the family vacation market. The announcement doesn't say anything about DVC, one way or the other. But, in my opinion, this has DVC written all over it.

The Gaylord National has huge conference facilities. I doubt Disney would want to be rely on overflow from the Gaylord National.

 

[DannyDisneyFreak]

Any thought that they are thinking about bringing back the Disney America park idea, only miles from DC after all... maybe somthing smaller scale than their other parks?

 

[KYMickey]

Any thought that they are thinking about bringing back the Disney America park idea, only miles from DC after all... maybe somthing smaller scale than their other parks?

In a single word "NO"! The entire area of National Harbor is even too small for a small park. It's only going to be a hotel or DVC and nothing more.

 

[KYMickey]

The Disney site is on the east side of the existing National Harbor construction. There's a map at http://www.yesterland.com/harbor.html

It's a rather terrible location within the development. It's a long way from the waterfront so any thoughts of Disney having boats to shuttle people to Washington attractions would encounter logistical difficulties. The only good thing about this site is that it was probably cheaper because of its location.

 

[Mouseaholic!!!]

The Disney site is on the east side of the existing National Harbor construction. There's a map at http://www.yesterland.com/harbor.html


According to Jay Rasulo (in the press release), "National Harbor offers an array of entertaining activities for regional visitors, but it is also a family-friendly base camp, from which visitors from around the world can explore the stirring sights and inspirational stories of our nation's capital. We believe National Harbor has the unique opportunity to offer a new level of family-friendly hospitality."

In other words, Disney is primarily going after the family vacation market. The announcement doesn't say anything about DVC, one way or the other. But, in my opinion, this has DVC written all over it.

The Gaylord National has huge conference facilities. I doubt Disney would want to be rely on overflow from the Gaylord National.

I realize what the website says - I looked at it. Trouble is.....it's not reflecting what is actually happening at the site.....lots of promises --- they have promised for years now.

This is not a family vacation site.

The Marina only has a couple of boats. It's extremely exposed for wind and sea - far better places closer to the Chesapeake Bay or closer to DC. There are no sporting outlets to rent boats, little personal watercraft, etc. Another problem with personal watercraft in this area - stinging jellyfish inhabit the water generally beginning around May or early June --- not a fun thing. I grew up here and know it well from my stubborn childhood days! OUCH!

Shopping - as I said - nothing out of the ordinary from any Mall any other place. Having said that, I realize there are bus tours to the Mall of America --- basically a big mall filled with .... mall stores so perhaps people like to shop in the same stores they can visit at home.

Many of the venues scheduled to be open last year have not even started construction. Right now - it's lots of brick and glass and few people --- looks like one of those Hollywood movies where all the people have been removed from earth.

Condos are under construction - and that has slowed because of the current environment --- and a little problem that now the value of the first units sold has decreased to less than what the first owners paid....making it even more difficult to sell. (We have a couple of new complexes in Annapolis which are suffering the same problems --- beautiful buildings - less than 50% sold and languishing).

It WILL be very nice someday because it's all new construction.

I can see this being a very nice little township down the road but FAR from a family destination.

Again, Disney's site is only 11 acres --- very small and will limit what Disney can offer.

Your commute into DC will be painful if tried during rush hour - cross the Woodrow Wilson Bridge - find your way to a subway station or drive into DC and then try to park.

Estimated times to anything of REAL interest

45 minutes to downtown DC
30 minutes to Alexandria
1 hour to Annapolis
1 1/2 hours to Baltimore

I would cheer and say it was the coup of the century if it was anywhere near a subway station. Close subway is on the other side of the bridge. Woodrow Wilson Bridge = bottleneck twice a day.

Great - they are going to build a 500 room hotel and hope the get overflow from a convention center. That's successful ... how?


All I'm saying is I know this area very well...it's my backyard....and it doesn't make sense for a family venue.

Let's hope I'm wrong and those convention guests don't mind paying extra for local telephone calls and internet service. Like the cruiseline - Disney will have a fast learning curve and eventually bend to the marketplace.


Sorry for the morning ramble.

 

[Mouseaholic!!!]

It's a rather terrible location within the development. It's a long way from the waterfront so any thoughts of Disney having boats to shuttle people to Washington attractions would encounter logistical difficulties. The only good thing about this site is that it was probably cheaper because of its location.

Ok, yes, you are right....it's ME again!


One of the problems with building facilities this far north is quite simply - weather.

If you are depending on enticing families to the area with the offer of ferry shuttles to downtown DC, you will be out of luck for about 4 months.

Because of adverse weather, most marine insurance policies are written for the boat to be secured and winterized by November through the end of February.

Tour boats in this area close up shop in October - in Annapolis it's following our two boat shows.

When our local Yacht Club has it's wonderful Christmas Lights Parade the first weekend in December, participants have to get a special ryder on their insurance to move the boat from the slip for this event.

Ok, insurance aside....it's often WICKED cold and one of the last places you want to be is on a boat bouncing around on the water....yes, it's a very exposed location to weather as I said before. There is a very long "fetch" (open/exposed distance) where the marina is located and cold winds will build up a sloppy chop on the water making part of this trip uncomfortable during colder months.

That's on top of the inconvenient site others have mentioned.

See...logistics simply don't make sense!

 

[Horace Horsecollar]

Again, Disney's site is only 11 acres --- very small and will limit what Disney can offer.

A minor correction... the site is 15 acres.

Disney sought a site in the Washington area. This is the one they picked. I assume they considered other sites. Of course, they were limited by what parcels of land were actually on the market.

With some careful land use, the 15 aces should be enough for a hotel building, a DVC building, restaurants and shops open to the public, and an amenity for Disney guests such as an enclosed super pool.

If you look at the map and aerial photo at Yesterland, there is additional undeveloped land north and south of the Disney site. Disney could have bought more land form Peterson, or they could have bought less. It seems that Disney determined that 15 acres was the right size for what they have in mind.

 

[brettf22]

I would cheer and say it was the coup of the century if it was anywhere near a subway station. Close subway is on the other side of the bridge. Woodrow Wilson Bridge = bottleneck twice a day.

Just one more correction. The closest subway station is not across the WW bridge. It's the Southern Avenue stop on the Green Line, located about 5 miles away. The NH-1 Metro bus goes from the National Harbor to the Southern Avenue station.

Of course, it will still take 45 minutes or so to get from National Harbor to the center of the Mall via Metro (Bus -> Green Line -> Orange Line -> Smithsonian Station)

 

[Mouseaholic!!!]

Just one more correction. The closest subway station is not across the WW bridge. It's the Southern Avenue stop on the Green Line, located about 5 miles away. The NH-1 Metro bus goes from the National Harbor to the Southern Avenue station.

Of course, it will still take 45 minutes or so to get from National Harbor to the center of the Mall via Metro (Bus -> Green Line -> Orange Line -> Smithsonian Station)

Exactly - why would you want to be so far away from everything that Washington DC has to offer?

My GOD - try hitting Arlington National Cemetary from that Green Line metro station if you have no car! Or worse......slepping from Regan National on the subway with your bags.

For a convention at National Harbor - I get it. If you are visiting the area....I'm not a fan....just in case you didn't notice.

 

[brettf22]

Exactly - why would you want to be so far away from everything that Washington DC has to offer?

My GOD - try hitting Arlington National Cemetary from that Green Line metro station if you have no car! Or worse......slepping from Regan National on the subway with your bags.

For a convention at National Harbor - I get it. If you are visiting the area....I'm not a fan....just in case you didn't notice.

Yeah, I'm kinda puzzled as well. You have to ask what the benefits are.

Let's see ... by investing very little ($11 million for 15 acres is peanuts), Disney gets a toe hold in a major tourist market. This looks very good from a Wall Street perspective (a "smart" investment during lean times), which can help the stock outlook during a time of troublesome financial results. Could they have purchased in other areas (i.e. around the Nats' stadium development)? Sure. But they would have undoubtedly paid much more for less acreage.

Selling to Disney also gives a boost to the National Harbor developers. They've got a pretty big investment in an area that, as you say, has some issues for the casual, non-convention tourist. Having Disney on board gives them a win during a critical time in selling the development to other businesses and investors.

Now, the big question is will Disney actually ever build anything there? Seems to me they purchased what was, in effect, an "option" to build something near DC. Both Disney and NH get a short term media buzz. Disney now has plenty of time to determine if they can come up with a way to mitigate some of the transportation issues, or a business plan for working the convention crowd. If they can't, I'm sure it will not be difficult to resell that property, especially given the price they paid. And I'm sure their contract with NH has all sorts of contingencies written into it, allowing them time to study these issues

So, I guess we'll just have to wait and see what, if anything, comes of it.

 

[Mindy5767]

I realize what the website says - I looked at it. Trouble is.....it's not reflecting what is actually happening at the site.....lots of promises --- they have promised for years now.

This is not a family vacation site.

The Marina only has a couple of boats. It's extremely exposed for wind and sea - far better places closer to the Chesapeake Bay or closer to DC. There are no sporting outlets to rent boats, little personal watercraft, etc. Another problem with personal watercraft in this area - stinging jellyfish inhabit the water generally beginning around May or early June --- not a fun thing. I grew up here and know it well from my stubborn childhood days! OUCH!

Shopping - as I said - nothing out of the ordinary from any Mall any other place. Having said that, I realize there are bus tours to the Mall of America --- basically a big mall filled with .... mall stores so perhaps people like to shop in the same stores they can visit at home.

Many of the venues scheduled to be open last year have not even started construction. Right now - it's lots of brick and glass and few people --- looks like one of those Hollywood movies where all the people have been removed from earth.

Condos are under construction - and that has slowed because of the current environment --- and a little problem that now the value of the first units sold has decreased to less than what the first owners paid....making it even more difficult to sell. (We have a couple of new complexes in Annapolis which are suffering the same problems --- beautiful buildings - less than 50% sold and languishing).

It WILL be very nice someday because it's all new construction.

I can see this being a very nice little township down the road but FAR from a family destination.

Again, Disney's site is only 11 acres --- very small and will limit what Disney can offer.

Your commute into DC will be painful if tried during rush hour - cross the Woodrow Wilson Bridge - find your way to a subway station or drive into DC and then try to park.

Estimated times to anything of REAL interest

45 minutes to downtown DC
30 minutes to Alexandria
1 hour to Annapolis
1 1/2 hours to Baltimore

I would cheer and say it was the coup of the century if it was anywhere near a subway station. Close subway is on the other side of the bridge. Woodrow Wilson Bridge = bottleneck twice a day.

Great - they are going to build a 500 room hotel and hope the get overflow from a convention center. That's successful ... how?


All I'm saying is I know this area very well...it's my backyard....and it doesn't make sense for a family venue.

Let's hope I'm wrong and those convention guests don't mind paying extra for local telephone calls and internet service. Like the cruiseline - Disney will have a fast learning curve and eventually bend to the marketplace.


Sorry for the morning ramble.

I don't see how you'd have to cross the Wilson Bridge? Its IN Maryland. If you're going to DC, you're going the other way. You'd only have to cross the bridge to get to Alexandria. I was standing on the dock at Zero Prince Street the other day and couldn't help but notice the BRIDGE view... and its far enough away. That bridge is massive. The project will have a bridge view no matter what. I don't see how a Disney watertaxi would be a problem. It could dock at Old Towne (over by the old Dockside Sales and the Torpedo Factory) and dock at Washington Marina.

We're in a severe recession. But anybody who bought IN, AFTER the market crash of 29, probably died rich. You have to buy LOW ... not high. I think Disney Development has a strategy.

 

[Mindy5767]

Because of adverse weather, most marine insurance policies are written for the boat to be secured and winterized by November through the end of February.

Tour boats in this area close up shop in October - in Annapolis it's following our two boat shows.

When our local Yacht Club has it's wonderful Christmas Lights Parade the first weekend in December, participants have to get a special ryder on their insurance to move the boat from the slip for this event.

Ok, insurance aside....it's often WICKED cold and one of the last places you want to be is on a boat bouncing around on the water....yes, it's a very exposed location to weather as I said before. There is a very long "fetch" (open/exposed distance) where the marina is located and cold winds will build up a sloppy chop on the water making part of this trip uncomfortable during colder months.

That's on top of the inconvenient site others have mentioned.

See...logistics simply don't make sense!

I don't remember our boat policy saying anything like that. We did winterize though, because it is what we do. We were docked in Annapolis.

I know... It'll be just like "The Maid of The Mist"!

 

[Mouseaholic!!!]

I don't remember our boat policy saying anything like that. We did winterize though, because it is what we do. We were docked in Annapolis.

I know... It'll be just like "The Maid of The Mist"!

I never realized it myself with my policy for my personal boat. It was only when I was working as a yacht captan (12 years of GREAT stories !!!). I was discussing a ryder with the insurance company for the panama canal when they pointed out I could not travel south of Bermuda until the 15th of October (toward the end of hurricane season). After that....I paid more attention to the fine print in just about everything. (TOO MUCH fine print in everything!!!)

Common sense rules here however. If boating was so fabulous on the Cheseapeake Bay and rivers during the colder winter months, they would be flooded with boats 12 months a year. Unfortunately, that is not the case here. Anyone who wants to make $$$ travels south -- following the winter snowbirds.