Disney to reveal plans on Golden Oak development.

[DocMcHulk]

I'm a DVC member, I don't really pay attention to the $$$$ with lodging taxes. I pay with points. :animwink:

I'm thinking about food and merchandise as well.

 

[wbc]

I'm thinking about food and merchandise as well.

Oh, I'm not sure how exactly that works. Especially in a state that I don't know much about.

In Texas, part of "state sales tax" on normal purchased goods go towards the locale. Not sure with Florida. :/

 

[jakeman]

The land was rezoned. As said on the website:
Golden Oak represents the first opportunity for individuals to enjoy whole homeownership at the Walt Disney World® Resort. Golden Oak residents are under the governance of Orange County, Florida.

Meaning they will not have any influence in wdw.

I didn't mean influence in the strictest sense. More like the AP holders at DL.

Disney would be crazy to have a subdivisioned zone to give any sort of control over WDW proper.

 

[KingdomKeeper]

Any idea how much land Golden Oak will take up? It seems like a waste of space for Disney to build houses for a very select group of people...and how will Disney profit from the houses if all of them are bought outright? Once they get the intial 8 million..how else will they be able to get a substantial amount of money out of the people staying in the houses?

 

[DocMcHulk]

and how will Disney profit from the houses if all of them are bought outright? Once they get the intial 8 million..how else will they be able to get a substantial amount of money out of the people staying in the houses?

I have no doubt that there will be monthly association fees.

 

[Main Street USA]

I have no doubt that there will be monthly association fees.

Of course there will. I haven't seen a new community built anywhere in america that DIDN'T have a homeowners association within the last ten or so years. It's just the way things are now, especially in upscale communities.

 

[MarkTwain]

Add me to the list of people who think this was a huge mistake for Disney. They permanently gave up prime expansion land so they could make a quick buck. People say that WDW still has tons of room for expansion, but there really isn't that much land that can be built on, considering the massive size of a theme park. Once Disney has filled up all of their usable land (this isn't as far away as one might think) and is looking for where to build their next big park or hotel, they might seriously regret selling off this massive chunk of real estate.

Additionally, considering that this area is within plain sight of many areas around property, it'll create an unpleasant feeling of "haves versus have-nots" or class superiority among the average guests, which shouldn't be part of the WDW experience. The fact that this land is so close to the Magic Kingdom just worsens this impression.

Celebration is one thing, but this development at the heart of WDW appears to be quite another.

 

[cattle]

any finance experts out there willing to figure out how much the least expensive houses would be with a 50-year mortgage?

 

[dorothy_l]

Since i am a parent, schools are very important....wonder what school district is zoned there.......The school of Disney? If so sign me up...i'm willing to go back myself!:sohappy:

 

[mrerk]

any finance experts out there willing to figure out how much the least expensive houses would be with a 50-year mortgage?

Borrowing the full 1.5m @ 5% would be about $6,800/mo. for a 50 year,or about $8,000/mo. for a 30 year. I'm only guessing at the rate. I have no idea what the going rate is on something like that.

 

[mrerk]

Homeowners will receive some Disney perks: http://bit.ly/cgRtuG

Some of the pics from that link look a lot like the Eagle Pines DVC that was once planned for that area. I'll have to see if I can find the orig. pics for comparison.

 

[raven]

For some reason, I don't like the fact of Disney selling multimillion dollar homes on property...I can't put my finger on it, but it just doesn't sit right with me.

Maybe I'm just jealous because I can't afford one? :shrug:

You're not alone.

Ironically new home buying in the area fell 2.2% in May, most likely due to the incentive cut off in April. But we have many million dollar homes in my neighborhood (a couple miles north of property) that are empty. They look impressive but no one's buying. So why would Disney take a risk in the current economy? :veryconfu

http://www.wesh.com/money/24006255/detail.html

 

[_Scar]

You're not alone.

Ironically new home buying in the area fell 2.2% in May, most likely due to the incentive cut off in April. But we have many million dollar homes in my neighborhood (a couple miles north of property) that are empty. They look impressive but no one's buying. So why would Disney take a risk in the current economy? :veryconfu

http://www.wesh.com/money/24006255/detail.html

Living in a gated community and living in Walt Disney World are two totally different things.

 

[raven]

Living in a gated community and living in Walt Disney World are two totally different things.

My community isn't gated though.

 

[unkadug]

I may be wrong but I don't think they are aiming for the people that would have to buy with a mortgage.

I think they are looking for people with more money than sense.

 

[cattle]

Borrowing the full 1.5m @ 5% would be about $6,800/mo. for a 50 year,or about $8,000/mo. for a 30 year. I'm only guessing at the rate. I have no idea what the going rate is on something like that.

Well, then I'm out. I was thinking about taking out a 50-year mortgage.

 

[Master Yoda]

You're not alone.

Ironically new home buying in the area fell 2.2% in May, most likely due to the incentive cut off in April. But we have many million dollar homes in my neighborhood (a couple miles north of property) that are empty. They look impressive but no one's buying. So why would Disney take a risk in the current economy? :veryconfu

http://www.wesh.com/money/24006255/detail.html

The economy will recover and we are on the cusp of that recovery right now. Even before the housing boom I would see 2-3 multi-million dollar homes go across my desk every week. It will take a year or two to get going but once it does is will sell out.

 

[Biff215]

Disney is actually two cities: Bay Lake, Florida and Lake Buena Visa, Florida.

Now the Chase Disney card is renaming Disney cities too? I must have missed that!

I don't really mind this much. The land is in an odd corner of the property that probably wouldn't have been useful to Disney, and if successful, should turn a nice profit in the long run. Pump that money back into the parks and we'll all be happy (wishful thinking of course).

 

[mp2bill]

For some reason, I don't like the fact of Disney selling multimillion dollar homes on property...I can't put my finger on it, but it just doesn't sit right with me.

Maybe I'm just jealous because I can't afford one? :shrug:

Same here.

selling private homes on property that could have potentially held something for all resort guests to enjoy one day?

As much as I would love to own a house in Walt Disney World, I don't like this idea.

My sentiments exactly. I don't really like the idea of taking up land that could be dedicated to new/different attraction or just straight up open space. To add something to WDW that's not for everybody doesn't sit well with me. I don't know if I'm echoing somebody else (cuz I haven't read every post), but isn't that was Celebration is for?

 

[Horizons19]

Same here.



My sentiments exactly. I don't really like the idea of taking up land that could be dedicated to new/different attraction or just straight up open space. To add something to WDW that's not for everybody doesn't sit well with me. I don't know if I'm echoing somebody else (cuz I haven't read every post), but isn't that was Celebration is for?

I agree.