Though the only thing on many theme park fans’ mind right now is how long parks around the world will be closed due to the COVID-19 Pandemic, Disney has quietly finalized a deal to puchase 26.3 acres of land for $1.05 million from Lake Reedy Development Group LLC.
The newly-purchased land is located on the undeveloped western end of Walt Disney World property, adjacent to the 235-acre property near Reedy Lake and Disney’s Oak Trail Golf Course that was purchased late last year. So why is Disney buying yet another parcel of land? Especially when Cast Members are getting furloughed without pay until further notice?
Completing a purchase from 2019
While news of this land purchase deal just came to light this past week, considering its location near to the large tract of land that Disney purchased in late 2019, we’d guess that this land purchase has been in the works for several months, long before the shutdown from COVID-19. Though it might not sound super exciting, it seems like Disney is simply completing a land purchase from last year.
And while some might speculate about what exactly Disney is buying land for, at this point the purchase itself does not automatically mean that the company has immediate plans for development. Still, if we had to guess, we have a few ideas about what Disney’s plans are for this most recent land purchase both now and in the future, once the resort has recovered from this unprecedented shutdown.
Keeping the buffer between Walt Disney World and the outside world
When the initial purchase in this area came to light last year, we speculated that Disney may have bought this land in an effort to keep the resort shielded from the outside world as an undeveloped barrier to keep itself secluded, while also preserving it as conservation land. This area of Orange and Osceola County is growing rapidly, and by having a big buffer zone, Disney can ensure that no housing developments, roads, or shopping centers are built too close to the resort.
Large development seems unlikely
While it is certainly possible that Disney could be looking to eventually develop this land as resort, transportation, backstage, or even attraction space, if those plans were coming together previously, given the current economic situation, we’d guess any major development is on hold indefinitely. Right now Disney doesn’t really “need” any extra space for its projects, and with the budget being tightened by the COVID-19 Pandemic, there’s no way that Disney develops this land in any meaningful way any time soon.
However, several years down the road that could change, especially as Universal is developing additional parks, hotels, and more down the road, and Disney may find themselves wanting to compete more with their next door neighbor. But any such development would be MANY years down the road, possibly not even until the next decade.
Of course, right now Disney has no comment on their purchase of this land, and there’s no telling when (or if) they will announce their plans for this undeveloped area. But of course we’ll keep our ears to the ground and as soon as we hear any developments, we’ll let you know!
