Kingdom Tower at Disney's Contemporary Resort

[DVC Mike]

The Orlando Sentinel is reporting:

The Walt Disney Co. has won approval to begin selling time shares in a 15-story tower the company is erecting next to its famed Contemporary Resort, a $110 million addition that Disney has named "The Kingdom Tower."

Disney has for months refused to divulge its plans for the hard-to-miss, half-built tower that is rising just outside the gates of the Magic Kingdom -- despite rampant speculation among Disney fans that it is destined for time shares.

A spokeswoman for the company's time-share division, Disney Vacation Club, would not discuss the project in detail again Monday.

"We don't have anything to announce today," spokeswoman Diane Hancock said.

But in new filings with the Florida Department of Business and Professional Regulation, Disney formally states that the Disney Vacation Club will "add a ninth component site to be known as Kingdom Tower at Disney's Contemporary Resort."

Disney says in the documents that it will sell the time shares in phases, beginning with an initial 75 units. The Kingdom Tower, which will connect to the existing Contemporary via a fifth-floor pedestrian bridge, will ultimately contain 281 units, according to the filings.

A spokesman for the Department of Business and Professional Regulation, which awarded a time-share license to the Kingdom Tower project earlier this month, said Disney has now been cleared to start selling units at any time.

"They can begin," department spokesman Sam Farkas said.

Disney appears in no rush. The company says in the documents it doesn't expect to finish the Kingdom Tower until the fall of 2009.

Analysts say the company can afford to be patient. The Kingdom Tower, they say, is likely to prove a huge seller, given that it will be the closest time shares Disney has built to the Magic Kingdom -- the busiest theme park in the world -- and the first built directly alongside Disney's monorail.

"I'd have to imagine that's going to be an extremely popular product," said Jeremy Glaser, a lodging-industry analyst with Morningstar.

Some analysts think Disney is withholding a formal Contemporary announcement because it does not want to undermine time-share sales at Disney's Animal Kingdom Villas or Disney's Saratoga Springs Resort & Spa, both of which are still selling units. The company's four other time-share resorts at Walt Disney World -- as well as one each in Vero Beach and Hilton Head, S.C. -- are sold out.

Glaser, however, said Disney's silence "could just be some trademark Disney secrecy."

Disney's filings with the state also offer more detail about the Kingdom Tower's amenities.

A new swimming pool, for instance, will be large enough for 180 people; go as deep as 4 feet, 11 inches; and feature two hot tubs and a 104-foot-long water slide. There will be two tennis courts, two shuffleboard courts and two boccie ball courts. A barbecue pavilion will have about 490 square feet of covered area and a pair of picnic tables.

Glaser predicted that Disney will choose to market the Contemporary time shares "as more of an upscale product." An early point-chart submitted by Disney to the state -- Disney Vacation Club owners buy points from the company, which they then redeem for rooms, though they must buy through a "home resort" -- shows guests will have to spend more points to rent one- and two-bedroom units at the Kingdom Tower than any of Disney's other existing time shares.

In a further step toward cementing the new tower's status as a time-share resort, Disney has created a new condominium association that would manage the resort once units are sold off to individual owners. State records show that the "Kingdom Tower at Disney's Contemporary Resort Condominium Association" was formally incorporated Jan. 9.

The Kingdom Tower continues a wave of construction for Disney's fast-growing Vacation Club. The company is in the midst of building its first time shares at Disneyland in Anaheim, Calif., and has announced plans to build an 800-room resort in Hawaii in which at least half of the units will be time shares.

http://www.orlandosentinel.com/business/custom/tourism/orl-contemporary2608feb26,0,6462018.story

 

[Disneyfalcon]

:sohappy::sohappy::sohappy:

 

[dvcnut39]

:sohappy::sohappy::sohappy:

Ditto! I' can't wait!

 

[unkadug]

A new swimming pool, for instance, will be large enough for 180 people; go as deep as 4 feet, 11 inches; and feature two hot tubs and a 104-foot-long water slide. There will be two tennis courts, two shuffleboard courts and two boccie ball courts. A barbecue pavilion will have about 490 square feet of covered area and a pair of picnic tables.

Do people REALLY play shuffleboard? :lookaroun

 

[KeithVH]

Hopefully nobody will confuse it with the Kingdom Tower in Riyadh:animwink:.

 

[MaxsDad]

Looking at these plans:

http://www.mouseowners.com/forums/showthread.php?t=13511

Speculation:

1. It appears to me based on the shape of the units(wide at balconies, skinny at hall) that all the unit's balconies will face toward the outer edge of the "C". Perhaps the inner side will only be the hallway and some windows?? If this is the case, as much as 2/3 of the rooms could have some type of MK view(the North and West sides).

2. Comparing Resort Plans to MSN's bird's eye view, it looks like the existing parking lot will remain in tact mostly. Also, it appears the new buildings "footprint" is smaller than the old North Garden Wing's. I don't see an area for new Bus Stops, must not be needed.

3. The GV looks spectacular. Could that LR window be 2 stories tall?? Could you imagine the view from that thing looking at Cindy's if it is? Whoa! Also looks like the upper floor has its own Exit door to the Hallway, which is kind of unique and cool. Do those upper bedrooms have windows that look out into the downstairs LR? If those couches are fold out, this thing could sleep 14!

 

[Disneyfalcon]

You're right that Grand Villa looks amazing!! I read somewhere else about the two story windows with an MK view. I think these Grand Villas are going to be super hard to get!

 

[MaxsDad]

You're right that Grand Villa looks amazing!! I read somewhere else about the two story windows with an MK view. I think these Grand Villas are going to be super hard to get!

Falconer, (I always think of the old SNL sketch when I see your screen name)

So we have a second on the 2 story windows. Those will be niiiice.

The points that are given seem low to me to be max points. Aren't other resorts exceeding this already?

Have you heard yay or nay about inward facing room views vs. all rooms on one side of the hall?

 

[Disneyfalcon]

Falconer - :lol:

The rooms can't all be facing the Magic Kingdom because of the horshoe shape but I don't know about inward facing.

I thought the cost of the Grand Villa did not sound bad at all. Those will be crazy popular with those views though!

 

[HauntedPirate]

Holy moley, Batman! Nice link to the actual floor plans, etc., MaxsDad!

True, all the rooms won't have a MK view, but still looking out over Seven Seas Lagoon or the Contemporary won't be bad. Imagine the view at sunset! Plus it's a short walk over to the Contemporary tower and an elevator ride to a great view of fireworks.

So, 3800 or so interests will be available. We better start a savings plan now, because I WANT I WANT I WANT. I wonder when they'll begin selling interests, since I'm guessing AKV are far from sold out right now, and they traditionally don't start selling a new interest until the current one is nearly sold out.

We may try for AKV on our next trip, just for something different.

 

[Disneyfan1981]

This is the worst kept secret for WDW right now but its interesting to get some sort of officiality for it. I definitely want to buy some time at the Kingdom Tower but wonder how fast it will actually go....

 

[Pumbas Nakasak]

How can they justify high point usage to stay in a concrete bunker? Is watching the monorail go past from an adjacent building that much of a special treat.

Cant see the attraction. Still hopefully it will make it easier on the other resorts.

 

[HauntedPirate]

Watching 'Wishes!' from your room seems like more of an incentive to me, along with sunrise/sunset over Bay Lake and Seven Seas Lagoon. Plus, think about it - monorail access to two theme parks. For those of us with young kids, it'll be worth it.

 

[DisneyJoe]

How can they justify high point usage to stay in a concrete bunker?

As in all real estate - LOCATION, LOCATION, LOCATION.

A friend of mine just had a house built deep in Southern New Jersey - huge home, cost about $600k with the developer, standard model with a few standard add-ons.

The developer also builds in Northern NJ - same house, same options - $1.3 million dollars or more.