Four Seasons will not be open until 2014

[Frau Farbissina]

I agree with this. They are not going to to throw in the towel here, no matter how bad the idea was in the beginning. If they can only sell 11 homes with the prospect of the Four Seasons coming, if Four Seasons doesn't actually get built (as some are suggesting) sales are going to be even lower. That means hundreds of acres of WDW property will be sold and gone forever, in a quick money making scheme that backfired (badly, I might add...). It's the same thing as Flamingo Crossings and PI. Yet, of course, the excuse will be that its the economy's fault, not that these were bad ideas in the first place.

At that point, I could see the land being sold to another developer, but as others have mentioned, no developer is going to jump on this because real estate sales in Florida are terrible right now. So what are we left with then?
I don't see how SO MANY bad financial decisions keep being made by leadership in P&R and yet there doesn't appear to be too much shakeup in the way things are run.

I'm actually wondering if there isn't some sort of stipulation in the contract that if things don't work out, Disney has the right to buy it back first? I would hope that Disney lawyers were smart enough to put that sort of thing in their contract.

 

[KLedden]

Golden Oaks is up to 16 homes sold or under contract.

 

[GrumpyFan]

Golden Oaks is up to 16 homes sold or under contract.

Where do you find this out?

 

[fillerup]

Somewhat apples and oranges, but Golden Oaks is a far cry from the days when Celebration was rising from the swamps and there were lotteries to select buyers.

 

[KLedden]

You can find out from the sales center. They sold 16 with target of 28 lots this year. The objective is to sell over the next 10 years. The Club House is also under construction. The Four Seasons is separate and distinct - one is not dependent on the other. You need not worry about Disney spending money here instead of the parks since Disney is making significant coin on the land sale and the homeowners are on the hook for construction to a very specific Disney Imagineering specification. It is the first time Disney has ever sold property from the original land. I would not under-estimate the power of the Disney brand worldwide.