Mattamy Homes has paid a combined $31 million for the last residential village in the Disney master-planned community of Celebration.
Mattamy Homes has paid a combined $31 million for the last residential village in the Disney master-planned community of Celebration. (Osceola County Property Appraiser/staff edit)

With the opening of Celebration Island Village just a few months away, Mattamy Homes purchased another 266 acres of land from Disney subsidiary, The Celebration Company.

The Canada-based homebuilder paid $16 million on Sept. 30 for two parcels that will make up the next major phase of the community. Island Village is the southernmost parcel within Celebration. The property has entitlements for 1,000-plus single-family homes, 300 apartments, 30,000 square feet of neighborhood commercial, an elementary school and five acres for park or civic uses.

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Mattamy paid $15 million in 2017 for the first takedown for the the fifth and final residential village of the master-planned community.

Mattamy plans lay groundwork for Celebration Island Village

Check out the long-awaited master plan for Celebration Island Village, and find out why it won't look exactly like the rest of Disney master-planned community.

The builder will offer a an entirely new product portfolio designed especially for Island Village. The first island would have 87 townhomes and 192 detached single-family homes on four different lot sizes: 70-foot estate lots, 55-foot and 40-foot rear alley lots and motor courts (each with four homes.) It would be developed in two sub-phases, according to the plan. The apartments and all of the townhomes would be built in Phase 1A, while most of the estate lots are Phase 1B.

The first island also includes the new K-5 school, which will open in 2021, and an apartment complex by Dallas-based Streetlights Residential, which held a pre-application meeting with Osceola County’s Development Review Committee on Sept. 19.

Dave & Buster’s named as anchor for new Celebration shopping center

The arcade-giant would take 40,000 square feet in a new shopping center at Disney's World Drive interchange.

Streetlight’s Edward Wood said the community would be wood-frame construction, consisting of seven 3-story residential buildings and two 4-story buildings that will be elevator-served. The apartments would have a combination of surface parking and “tuck-under” garages offering direct access to residential units. They plan to activate the ground level with 10,000 square feet of commercial space in one building and a leasing office in another.

The new village also will benefit from a Celebration Pointe, a 21-acre entertainment town center being developed by Unicorp National Developments. The complex at the World Drive interchange will be anchored by a 40,000-square-foot Dave & Buster’s and a 27,512-square-foot grocery store. Unicorp and co-developer Daryl Carter closed on the commercial site on Friday, paying $13.623 million for the property.

Mattamy declined to comment for this story. The company website indicated that home pricing and designs will be available in 2020.

EDITOR’S NOTE: This story has been updated to include sale information of Celebration Pointe.

Have a tip about Central Florida development? Contact me at lkinsler@GrowthSpotter.com or (407) 420-6261, or tweet me at @LKinslerOGrowth. Follow GrowthSpotter on Facebook, Twitter and LinkedIn.

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