From today's Orlando Sentinel ~~

Disney begins pre-sales for luxury residential development

By Jason Garcia on June 23, 2010 at 7:35 am

Walt Disney World today begins pre-sales for homes in its “Golden Oak” residential development, a community of luxury homes being built on the northwest corner of the vast resort.

Prices for homes within exclusive enclave, which will be anchored by a Four Seasons luxury hotel, will range from $1.5 million to $8 million. The resort says it will put less than 30 sites for sale this year, though it projects Golden Oak will ultimately include approximately 450 homes.

Disney says interested buyers will have to make a refundable $25,000 deposit. Golden Oaks is being built on the former Disney’s Eagle Pines golf course.

The project is Disney’s most significant foray into residential development since it developed the town of Celebration. It will also serve a test of the appeal of luxury homes after a brutal slump – particularly in Central Florida – in home prices and sales.