Here is some info from the Orlando Sentinel :
Disney to convert Pleasure Island into wharf-themed district
By Dewayne Bevil, Orlando Sentinel
6:59 PM EST, November 18, 2010
There will be new life at Pleasure Island — but with a new name, look and purpose, Walt Disney World announced Thursday. Construction will begin this month on the Downtown Disney entertainment area, which will be renamed Hyperion Wharf.
Several Pleasure Island buildings have sat idle since Disney closed its nightclubs in favor of more dining and shopping opportunities in 2008. Four of those clubs will be demolished to make room for new eateries along the waterfront area.
First to go will be the former Motion and Rock 'n' Roll Beach Club, said Keith Bradford, vice president of Downtown Disney. The styles and operators of the restaurants were not disclosed.
"We're in great negotiations on all the restaurants," he said.
An amphitheater-style park on the lakeside will be the first area ready for guests, Bradford said. He expects the park, next to the Paradiso 37 restaurant, will be ready by next summer and the entire project completed by early 2013.
Hyperion Wharf will have the look of a turn-of-the-century seaport, creative director Alex Wright said. "The architecture is reflective of the era in the early part of the 20th century, where Walt [Disney] was inspired and where he sort of hatched his visions and his dreams," Wright said.
Scott Smith, a professor in the University of Central Florida's Rosen College of Hospitality Management, said he was perplexed by the announcement.
"You have such a prime piece of real estate there, and Disney is a company that specializes in doing things unique and really wowing people," Smith said. "Then when I read what the plans are for Pleasure Island, I was underwhelmed."
Smith was hoping for an area that showed off new-generation technology, perhaps a "DisneyQuest on steroids," he said.
"Pleasure Island was such a unique experience, and Disney did it very well," he said.
Pleasure Island opened in 1989 with several adult-oriented nightspots available for a single cover charge. For years it was promoted as a place where it was New Year's Eve every night. Eventually, the cover charge was dropped, and guests could roam freely through Pleasure Island, which connects Marketplace and West End, the other two Downtown Disney districts.
Pleasure Island wasn't a big draw during daytime hours, and Disney wants that to change in the Hyperion Wharf era.
"I love what [restaurants] Ragland Road and Paradiso 37 have done," Bradford said. "They're very accommodating to all our guests. At 4 or 5 o'clock, you'll see a lot of families in there. As the night progresses, it becomes much more adult-oriented with the live music and the bands."
The final phase will be the removal of Adventurers Club and BET Soundstage Club, which eventually will be replaced by restaurants. The new restaurants will add 1,500 seats to the area.
The Hyperion name has Disney roots. It was the name of the street where Walt Disney built his first major animation studio, and it has been used with the company's movie and publishing concerns. Hyperion is also the name of the Greek god of light.
"This place that we're building here at Hyperion Wharf is, in a lot of ways, defined by its fascination with electric light and with the ability to make light and all the things you can do with it," Wright said. "We'll be working to use all the modern lighting technologies that are available to us to play with light in a different way."
Hyperion Wharf will continue the string of changes made at Downtown Disney over the past two years, Bradford said. Additions have included the Characters in Flight balloon ride, shops such as D-Street, Tren-D and LittleMissMatched and the quick-service restaurant Pollo Campero, which opened this week on the Marketplace side.
"We haven't been standing still, for sure," Bradford said.