Posted: Jun 23, 2010 11:21 AM by Greg Boyce
ORLANDO (AP) - The Walt Disney Co. announced an ambitious plan to build multimillion dollar homes in a new gated community it's creating at its famous Florida resort.
About 30 properties will be available this year in the Golden Oak resort community at the Walt Disney World Resort. The homes will be listed for up to $8 million. The 980-acre resort community will include a private clubhouse, spa services at an onsite Four Seasons hotel, a concierge and access to Disney's facilities. The pricey homes are a deliberate effort by the entertainment giant to woo some of the nation's most affluent homeowners and vacationers. But the effort comes at a difficult time.
Florida has the nation's third-highest foreclosure rate. That's dragging down real estate value in the state.