xml:space="preserve">
xml:space="preserve">
Advertisement

Walt Disney World affiliate buys 235 acres west of the Magic Kingdom Resort Area

Highlighted in blue is the land that Compass Rose Corp. just bought for $6 million.
Highlighted in blue is the land that Compass Rose Corp. just bought for $6 million.(Orange County Property Appraiser)

Compass Rose Corp., an affiliate of Walt Disney World, just paid $6 million to acquire 235 acres of land west of the Magic Kingdom Resort Area.

According to a deed recently recorded in Orange County, the company bought the property from entity Lake Reedy LLC, which is led by multi-generational citrus growers Lester Austin III and John D. Ficquette.

Advertisement

The land includes about 44 acres of submerged land on the southern portion of Reedy Lake.

Austin III belongs to a long-legacy of citrus growers and is also credited in helping push forward original plans for the fast-growing Horizon West community in southwestern Orange County.

The Reedy Creek Improvement District had right of first refusal for the land, but chose not to exercise that right.

It is unclear what Walt Disney World intends to do with the land. Representative at the company were not immediately available to comment.

The property sits next to where RCID owns a little more than 600 acres — most of which is being used as a solar farm.

To the east of the property is the Magic Kingdom Resort Area, which includes several Disney resorts that border the shores of the Seven Seas Lagoon and Bay Lake.

Have a tip about Central Florida development? Contact me at arabines@GrowthSpotter.com or (407) 420-5427, or tweet me at @amanda_rabines. Follow GrowthSpotter on Facebook, Twitter and LinkedIn.

Advertisement
Advertisement
Advertisement