With real estate struggling along (even in the luxury sector, despite reports to the contrary), can The Mouse convince the wealthy to buy their (4th or 5th) dream home right next to Cinderella’s Castle?
Here’s the concept: an all-luxury residential community within the Walt Disney World Resort property in Central Florida. The community, called Golden Oak, will feature 450 custom homes – divided into four “neighborhoods”, a 16,000-square-foot private clubhouse with restaurants, a championship golf course, and a 445-room Four Seasons Hotel. All housed on 980 acres of land in the northeast corner of the property, adjacent to the Magic Kingdom.
Residents will enjoy VIP amenities like theme park passes, free parking, transportation, personal concierges, moving assistance, home maintenance, in-home dinners and parties, grocery shopping and errands, even holiday decorating (Disney-style of course). All for anywhere between $1.4 million and $8 million each, not including additional fees like a yearly homeowner fee for landscaping, maintenance and security.
According to a recent report in the Orlando Sentinel, interest is strong. Whatever that means. I find it interesting that there have been no numbers released. How many people have shown interest? How many have bought?
The reality is (as much as we may wish upon a star for the opposite) – Disney has taken a big gamble. And based on the uncertainty in the real estate market, the fact that these homes were announced for sale over a year ago, and the recent announcement of their VIP benefits to motivate potential residents, I’m not so confident that all the magic fairy dust in the world could make this a success.