Disney Officially Cancels Lake Nona, FL Relocation Project

[HopperFan]

Someone correct me if I’m wrong but wasn’t this project dead or dying when Iger came in? Want to make sure I’m getting facts straight because yesterday news was all over the place from starcruiser to this to the Anaheim council proposal

No.

By the end of 2022 it was moving forward and designs were made public in January. The plans were then being submitted to the Orlando Development Review Committee. The committee met in March and approved the plans unanimously. The next step was approval of elevations and landscape, and then the permitting process would begin.

No doubt in my mind it was cancelled as Iger said, due to poor climate for business in Florida. Companies have to consider the environment they are asking employees to move to or the ability to attract top employees. Florida has made drastic changes in the last few months that are counter to attracting businesses.

 

[Her Dotness]

No.

By the end of 2022 it was moving forward and designs were made public in January. The plans were then being submitted to the Orlando Development Review Committee. The committee met in March and approved the plans unanimously. The next step was approval of elevations and landscape, and then the permitting process would begin.

No doubt in my mind it was cancelled as Iger said, due to poor climate for business in Florida. Companies have to consider the environment they are asking employees to move to or the ability to attract top employees. Florida has made drastic changes in the last few months that are counter to attracting businesses.

Huh. Wasn't aware of all these factors.

Makes sense, IMO.

 

[HopperFan]

Huh. Wasn't aware of all these factors.

Makes sense, IMO.

These are images released by Disney in January 2023.

 

[BroadwayHermione5]

So I’m hearing mixed. I do recall hearing it was pushed back, which supports the “life support” comment I saw here or maybe on another thread, and obviously there are other factors, but do we think inflation and lack of resources also were a factor besides *gestures at everything wlse*

 

[greeneyedchick]

I had heard that most of the imagineers didn't want to leave CA.

 

[BrianL]

So I’m hearing mixed. I do recall hearing it was pushed back, which supports the “life support” comment I saw here or maybe on another thread, and obviously there are other factors, but do we think inflation and lack of resources also were a factor besides *gestures at everything wlse*

I believe the mandatory move of WDI employees was pushed back, but the construction of the campus was still to move forward, just with other potential departments as tennants. As stated, cancellation wasn't on the table until now.

 

[pindecisive]

I personally prefer DL/DCA over WDW.

I'm generally with you. I think Epcot during the food festival is my personal favorite, but AK is about on par with DCA for me. I'm planning to attend DCA's next food festival next year, so depending on how it stacks up to Epcot's we just may not return to WDW for a few years.

I will say though, that I love being able to use points to stay in an "onsite" hotel at WDW, which just isn't possible at DL.

 

[BrianL]

I'm generally with you. I think Epcot during the food festival is my personal favorite, but AK is about on par with DCA for me. I'm planning to attend DCA's next food festival next year, so depending on how it stacks up to Epcot's we just may not return to WDW for a few years.

I will say though, that I love being able to use points to stay in an "onsite" hotel at WDW, which just isn't possible at DL.

The DCA Food & Wine Festival is pretty good! I thought the food was better, but there are fewer choices. It also gets kind of crazy crowded in the main path and they are not that good at directing the traffic as they are at Epcot. Sometimes it's unclear where a line for a booth even is. Still, it's fun!

 

[sk!mom]

For those employees who quickly sold their homes in CA and were all set to move, how frustrating that now you have to move back and find an even more expensive place to live!

Why would anyone have already sold a home? That would have seemed very premature when building hadn't even begun unless they sold in the recent high market. If that was the case, then the market has cooled considerably so rebuying shouldn't be a problem.

Have we reached the "find out " phase?

Gosh, I hope so!

 

[TwoMisfits]

Disney is definitely on a "cut any big costs possible" this week with the D+ enormous programming cuts, the closing of the Star Wars hotel, and now canceling Lake Nona. Performance outside of the parks could be the real reason for all the cuts vs anything else, b/c they've had soft numbers for a lot of their divisions last quarter, and this quarter does not look like much of a recovery...

But it's nice to have something to blame, so your fans don't get upset about their D+ subs being devalued greatly while they are still subscribed (I know I'm ticked, but I was letting this go in Nov anyway with the writer's strike likely making next year pretty content low, so I can pass on a year and get another service and watch their material from this year)...

 

[StageTek]

Why would anyone have already sold a home? That would have seemed very premature when building hadn't even begun unless they sold in the recent high market. If that was the case, then the market has cooled considerably so rebuying shouldn't be a problem.

Many of us were offered a job AND relocation costs. People with children got a jump on the move by selling their home, buying a new one and preparing their kids for the school year in their new town. At the time there was no reason to suspect the entire project would be canceled.

 

[LuvOrlando]

Hmm, closing the Star Wars Galactic Starcruiser & shuttering this, plus other blips in the news etc about commercial real estate markets being a bit iffy since no one has been reporting accurate valuations in a very long time plus money is getting tight with regard to loans and investment financing.

Altogether, I suspect there is a general financial restructuring taking place in many businesses everywhere and these stories are just spin, might as well put legs on it and make it sound deliberate instead of necessary. Purpose always plays better because it implies power.

 

[Kennywood]

Politics is just a current and convenient excuse for Disney cancelling the Lake Nona project. As has been previously stated, Disney is on a huge cost cutting spree right now. Disney can cancel this billion dollar project and pass the blame.

 

[bcla]

Why would anyone have already sold a home? That would have seemed very premature when building hadn't even begun unless they sold in the recent high market. If that was the case, then the market has cooled considerably so rebuying shouldn't be a problem.

I guess it's not likely to be able to repurchase a home that one recently sold.

And the big deal in California is Proposition 13 property tax stability. There's a strong incentive not to sell because a new home is likely to cost more and increase the assessed value. I've mentioned this in other topics. I remember checking the assessed value of a neighbor, which was maybe $30,000 because the house was last purchased in 1971 at the time I checked. The owner then sold for over $1 million and the new owner is paying on that assessed value. The ad valorem taxes are 30x more.

 

[bcla]

Politics is just a current and convenient excuse for Disney cancelling the Lake Nona project. As has been previously stated, Disney is on a huge cost cutting spree right now. Disney can cancel this billion dollar project and pass the blame.

But Disney doesn't really play the blame game. I don't even recall them using the typical code words for worry about government action, like "regulatory environment".

 

[sk!mom]

Many of us were offered a job AND relocation costs. People with children got a jump on the move by selling their home, buying a new one and preparing their kids for the school year in their new town. At the time there was no reason to suspect the entire project would be canceled.

You were already given that to relocate to a project that wasn't scheduled to open until 2026? I would have thought that all the things you mentioned would have happened much closer to the opening date. I get moving my kids at the start of the 25-26 or 26-27 school year rather than during but that's still at least 2 years away.

I guess it's not likely to be able to repurchase a home that one recently sold.

And the big deal in California is Proposition 13 property tax stability. There's a strong incentive not to sell because a new home is likely to cost more and increase the assessed value. I've mentioned this in other topics. I remember checking the assessed value of a neighbor, which was maybe $30,000 because the house was last purchased in 1971 at the time I checked. The owner then sold for over $1 million and the new owner is paying on that assessed value. The ad valorem taxes are 30x more.

I didn't mean repurchasing the house you sold just "a house." Given the CA property tax situation, it seems even more likely that most wouldn't have sold and moved until much closer to the 2026 finish date given all the changes that could occur in 3 years.

 

[Minnesota!]

A bit of FAAFO? Regardless if Ron and his minions are the sole reason, it's kinda genius of Disney to announce it in a way that implies that. As we all know, most people only take the headline and don't dig for the meat.

 

[MamaMermaid]

As a Floridian, I’m sad. But I’m happy for Disney.

 

[bcla]

So I’m hearing mixed. I do recall hearing it was pushed back, which supports the “life support” comment I saw here or maybe on another thread, and obviously there are other factors, but do we think inflation and lack of resources also were a factor besides *gestures at everything wlse*

Disney is likely to keep their internal deliberations private. Basically all there is will be speculation. About all I can think that might happen for the public to know is if there's discovery in a lawsuit.

 

[TLSnell1981]

I've never liked Iger from day one. He's a bean counter who never cared about the brand. IMO He chipped away until prices were so high and films so awful customers finally said no. His latest projects have done nothing to endear him to many long time fans.

I am truly sorry for the families who were uprooted only to have the project cancelled. What a horrible experience.