Will DVC every do Condos?

[Tigger031266]

Will DVC or Disney ever sell condos in WDW? Places where you buy and live year round? I just think there is a market (I would love to buy), room in WDW, competition and tons of profit for Disney. I know there is Celebration but those were closer to complete homes (I also think it was successful).

So lets say that they had rooms equal to DVC 1BR and 2BR and Grand Villas. Lets say prices were like this:

Cost Main Fee/Tax
1BR: 200K 7K/yr
2BR 300K 10/yr
Grand 400K 15/yr

I would take a 1 BR!!! Would anyone else consider buying? Could this ever happen?

 

[Muushka]

Interesting concept. Fun to think about. If those were the prices, I would love it! But the maintenence fees would probably be the end of it for us!

Imagine a GV at WDW for 365 days a year!

 

[Horace Horsecollar]

Disney worked out an arrangement with Four Seasons to develop vacation residences on the old site of Disney's Eagle Pines and Osprey Ridge golf courses. The prices are expected to be much higher than in the OP's post.

If Disney ever decided to build their own Disney-branded, full-ownership (not timeshare) vacation condos, then it's like they would use a different brand than Disney Vacation Club. Also, they would need to de-annex the property from the Reedy Creek Improvement District (the Disney-controlled government entity that governs most the Disney's property) so that permanent residents could not vote in the RCID.

My guess is that the prices would, again, be much higher than in the OP's post.

 

[Caskbill]

The fact that Disney got out of the Celebration residential community that they developed might suggest that they have no further interest in residential properties.

 

[wildernessDad]

Those prices are somewhat of a drop in the hat compared to east coast prices around DC these days.

 

[moredisneyplease]

its a neat idea and I could only dream!! I would easily sell my two contracts and turn them in to a down payment for a 2 bedroom!!

 

[DBBN]

Will DVC or Disney ever sell condos in WDW? Places where you buy and live year round? I just think there is a market (I would love to buy), room in WDW, competition and tons of profit for Disney. I know there is Celebration but those were closer to complete homes (I also think it was successful).

So lets say that they had rooms equal to DVC 1BR and 2BR and Grand Villas. Lets say prices were like this:

Cost Main Fee/Tax
1BR: 200K 7K/yr
2BR 300K 10/yr
Grand 400K 15/yr

I would take a 1 BR!!! Would anyone else consider buying? Could this ever happen?

I like the way you think BIG! At these prices we'd buy in at the grand villa level (400K plus 15K annual dues) and consider it a real bargain. My expectation is we will see some kind of year round offering at some point in the future but any offering likely would be significantly more expensive than the numbers mentioned here maybe even 5 or 6 times more expensive.

To compare - 23148 points would be required for a stay in a grand villa at OKW for all of 2009. At current pricing that's a purchase price of over $2.3 million with annual dues of over 100K (8.5K per month).

 

[DisDaydreamer]

I'm kind of with Chuck on this.... I think maybe Disney tried it and didn't really like it.

 

[JimC]

Walt had residential areas in the original Florida plan but had a problem with permanent residents -- the same problem Disney has today -- they get to vote and that eliminates Disney's absolute control of RCID. Walt died before he had an opportunity to figure out how to implement his vision and Roy was only able to get the theme park built in his final five years of life.

Disney Institute had homes in the original design and I believe there were three or so actually built. Celebration was the only full scale implementation and the solution was to de-annex that property as Horace indicated. I suspect that the recent announced projects with Four Seasons and the western end development will require them to be de-annexed.

It will be interesting to look back in thirty years and see if these land sales were good strategic decisions or poor short-sighted decisions. This is not really Disney's core strength. Marriott/Ritz or Four Seasons would be better suited to this type of development -- leisure living experiences.

I agree with others that the prices would be quite high. The prices that the OP quoted would be more likely with a 1/6 or maybe a 1/4 fractional interest. OKW dues would be roughly $63,900 per year for a 2 bedroom villa.

 

[kikiq]

If the condos looked like the VGC 2 bdrm model, my DH and I would definitely buy. We've already talked about our grandkids saying they're going to grandpa's house in wdw or dl