Disney sells 53 acres off US 192 W for $12.5M

Walt Disney Parks and Resorts on Monday sold a 53 acre-parcel just off US 192 W in Kissimmee to a vacation rental developer for $12.5 million.

The property just south of Disney's Animal Kingdom is located on Sherberth Road, sandwiched between the new Magic Village and future Magic Village 2 luxury townhome developments.

Steve Trover, CEO of All Star Vacation Homes, is a partner in the new ownership group. The buyer is listed as Lalu-Gacy House Project LLC; other managing members are Ronaldo Toccafondo and Emerson Simão, both of Miami, and Dillon Muto of Winter Park. 

Trover's Celebration-based company has led the way in development of massive vacation homes to serve multi-generational travelers. He told GrowthSpotter in July that Osceola's vacation rental market is seeing growing demand for homes with 8-10 bedrooms. 

Muto, a former broker and business development officer with All Star, was integral in the company's launch of Purpose Built Vacation Homes, which later became Fullhouse. The spinoff company manages a dozen private homes with state of the art technology and equipment to serve corporate gatherings as well as vacationers. Each property includes car rental, private pool and spa, gathering spaces, movie theater and game room.

Muto is also an officer with custom homebuilder Legacy Construction, which is the preferred builder for Fullhouse vacation homes in Reunion resort. 

The property had a future land use designation of Tourist Commercial, but it is currently zoned multifamily residential. The developers held a preliminary planning meeting in July with county officials, who indicated the property would have to be rezoned to build vacation rental homes on the site.

The developers submitted, and subsequently withdrew a preliminary site plan calling for 194 townhomes and 93 single family homes with a clubhouse, pool, tennis courts and outdoor pavilion.

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