Disney has just purchased 965 acres in Celebration called the BK Ranch for $23 million. The land is located in southeast Celebration and is zoned for development off the old Tampa highway. Originally, the plans for the ranch called for 3,000 homes and 378,000 square feet of commercial and office space that would have rivaled the Disney developed Celebration communities.
Jerry McGratty, broker/owner of Westhampton Realty told GrowthSpotter it’s likely the project will stay on a shelf because Disney was primarily interested in acquiring the land for “water management needs” and conservation. “I do not believe they will ever develop it,” he said.
With 965 acres of space, one would hope there would be potential development for the property. However, it is quite possible it will be nothing more than more land to use as a way to manage the current water/conservation for the existing properties. Keep checking back as we bring you additional details as we find them.
Source GrowthSpotter
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