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Disney drops $46M for future office campus in Lake Nona

Walt Disney World just bought 60 acres in Lake Nona with plans to build a new office campus.
Walt Disney World just bought 60 acres in Lake Nona with plans to build a new office campus. (Lake Nona)

A company tied to Walt Disney World just dropped about $46.42 million on the future site of its office campus in Lake Nona.

The entertainment and media conglomerate secured a 60-acre development site located directly south of the Central Florida GreeneWay and West of Lake Nona Boulevard, next to Lake Nona’s Medical City, records show.

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Established permitted uses would allow Disney to build up to 1.8 million square feet of office space across multiple buildings, with a minimum height of four stories. The site at 13849 Boggy Creek Rd. is part of the Lake Nona Town Center plans and features entitlements that carry the Airport Support District High-Intensity land use category.

Lake Nona developer Tavistock Development Company has been working with Disney to help the company secure a spot within its neighborhood where it may relocate some 2,000 Disney Parks, Experiences and Products professional employees from California to Orlando.

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The latest plan would increase the amount of office space in the town center by 145,211 square feet.

The move to the new Lake Nona hub is expected to take place through the end of next year. According to an Orlando Sentinel article, Orlando Economic Partnership’s President and CEO Tim Giuliani said the average wage for the positions would be $120,000 annually.

Price-wise this is the largest amount Tavistock’s Lake Nona Land Company LLC has received for its property in the fast-growing master-planned community.

A recent analysis of home sales conducted by GrowthSpotter shows Lake Nona’s Laureate Park was the single fastest-selling residential community in Orange County over the past couple of years.

Non-residential developments planned to rise in the Lake Nona Town Center include the 17-story Lake Nona Wave Hotel. The soon-to-open 234-room project will feature 18 suites, including two presidential suites, and multiple restaurants and lounge spaces.

SIMCOM Aviation Training is also moving forward with its planned 95,263-square-foot office and training facility in the Lake Nona Town Center.

Disney’s capital investment for the project could be as much as $864 million, according to company projections made in documents released to the Orlando Sentinel from the state’s Department of Economic Opportunity. And the company’s investment is not expected to end there.

At least 6,000 homes proposed in Phase 2 of Sunbridge would be located inside a gated active adult community, outlined in red, according to the Concept Plan filed with Osceola County. Each circle shows a proposed gate location.
At least 6,000 homes proposed in Phase 2 of Sunbridge would be located inside a gated active adult community, outlined in red, according to the Concept Plan filed with Osceola County. Each circle shows a proposed gate location. (Tavistock Development Co./staff edit)

Disney also is in discussions with Tavistock to build a massive active adult community in Sunbridge, according to reporting by Orlando Business Journal.

The Sunbridge Phase 2 Concept Plan, which was submitted to Osceola County earlier this spring, provides insight into the location and scale of the community. The document identifies five locations for gated entrances into the active adult community. Based on the gate locations, the community would extend from Cyrils Drive south all the way to Nova Road and would include the majority of homes along Lake Preston, at least 6,000 in all. It also helps explain why there is only one designated school site in all of Phase 2, which is planned for 16,500 homes.

The concept plan also specifies that golf carts and Neighborhood Electric Vehicles will be permitted on roadways within the gated active-adult community, and a separate golf cart lane would be constructed outside the gates to connect residents to the marina district.

Sunbridge is already home to a Del Webb branded active adult community, and sales will open in the fall for Weslyn Park, the first residential neighborhood in Phase 1. The timeline to start development in Phase 2 would be around 2024, and it would be a three-pronged approach to encompass infrastructure, housing and employment.

Have a tip about Central Florida development? Contact me at arabines@GrowthSpotter.com or (407) 491-3357, or tweet me at @amanda_rabines. Follow GrowthSpotter on Facebook, Twitter and LinkedIn.

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