Filed under: Real Estate Developments
Will luxury home buyers want to live in Florida's Disney World? The Wall Street Journal reports that Walt Disney Company has made the move into luxury residential real estate with a Golden Oak, a new 980-acre development that will eventually include 450 homes and a 445-room Four Seasons hotel. The homes themselves will be priced between $1.5 million and $8 million.
Florida's real estate has remained sluggish and the top-end of the Orlando market is already stuffed with multi-million luxury homes. But according to the WSJ article Disney is bullish on the concept and sees room for its expansion into the luxury market. The brand has made a few interesting forays into pricey items already, with expensive restaurants and wine bars in its parks and a line of diamond jewelry and high-priced bridal gowns.