"Golden Oak" Sales Begin Today

[Ed]

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.

[Scar]

...being built on the northwest corner of the vast resort...[snip]...on the former Disney’s Eagle Pines golf course.

I may be losing it, but wasn't the Eagle Pines golf course on the Northeast corner?

[diz_girl]

Ed - Thanks, thay's interesting to know. But one thing confuses me about the article. I thought that the new resort is going to be in the northeast corner of WDW, not northwest.

[BrerGnat]

Good timing Disney. Right at the worst time for new home sales in recent history...

Is there REALLY a market for multi million dollar homes in the middle of Disney World???

I guess we'll find out soon enough.

[Tygger7]

I tell you what....if I hit the lottery, I will be burning up the road to buy one of these houses! It sounds like heaven on earth for a Disney-fanatic...

[SallyP]

The development has it's own Disney website ...
Golden Oak at Disney

[Ian]

Good timing Disney. Right at the worst time for new home sales in recent history...

Is there REALLY a market for multi million dollar homes in the middle of Disney World???

I guess we'll find out soon enough.

Absolutely, because by and large folks in the income bracket to purchase homes like these haven't been affected by the down economy to the extent that the rest of us have.

I've heard names of some of the folks buying in this area and trust me ... they all can and will afford it!

[ILoveLegos]

Quick questions - wasn't this tried before in the less than successful disney dream community of Celebration? I'm just wondering out of curiosity. Or is this just special because these are all upper-end homes instead of the apartment, condo, starter house, Mac-mansion, hotel mix like in Celebration?

Oh well, I'm definitely not in the market for another home, so my questions are merely for my inquiring mind.

[Ed]

I may be losing it, but wasn't the Eagle Pines golf course on the Northeast corner?

But one thing confuses me about the article. I thought that the new resort is going to be in the northeast corner of WDW, not northwest.

Somewhat typical of the Sentinel. Never let the facts get in the way of a good story.

Yes, it is in the northEAST corner of the property.

[diz_girl]

Or is this just special because these are all upper-end homes instead of the apartment, condo, starter house, Mac-mansion, hotel mix like in Celebration?

You hit the nail on the head.

I went on the Golden Oaks Website and it mentions in-park benefits and a concierge to make dining reservations. I wouldn't be surprised if the Golden Oak buyers will not have to stand in line like hoi polloi. And I also wouldn't be surprised if the owners won't have to worry about CRT being booked either. Nothing against the future owners, it's just that I know that special privileges come with a price and they are fortunate enough to be able to pay it. I'd probaly do the same if I had their resources.

[Ian]

Quick questions - wasn't this tried before in the less than successful disney dream community of Celebration?

I'm not really sure why you call Celebration "less-than-successful"?

The homes in Celebration are gorgeous and highly desirable. Just check the prices! DW and I looked into moving there way back in like 2001 and could have bought a typical single family home there for like $280. That same home today is probably worth at least double that, even in this down cycle for housing.

I think Celebration has been an unqualified success.

[ILoveLegos]

I'm not really sure why you call Celebration "less-than-successful"?

Mainly because Disney bailed on it. There are forums that go into more details of why it's not the utopia it was meant to be though. Oh well, I still like visiting there from time to time.

[Ian]

Mainly because Disney bailed on it. There are forums that go into more details of why it's not the utopia it was meant to be though. Oh well, I still like visiting there from time to time.

Well, but I mean a lot of people sort of interpreted that it would be a utopia and bought homes there, but really they were just buying into a planned community like any other. Maybe Disney stretched the pixie dust factor to make sales (shocking, I know! ), but at the end of the day it's just another place with a homeowner's association and a lot of rules.

That "misunderstanding" generated some bitterness which is why those sites exist. I don't think, by any stretch of the imagination though that Celebration was a failure. It went very, very well for Disney.

[Joannelet]

I need to start buying lottery tickets

[MinnieMommie]

I agree with Ian in that the people who can afford to buy into this community (and the ones likely being marketed to) have not been hurt by the current economic crisis.

and...i like Celebration. I never can figure out the vehemence with which many respond to the mention of the town. I've talked to many college students who speak similarly about it. I'm wondering if there is a course or something where they are learning a perspective so negative.

anyway...I'm curious about the development of this new community and look forward to learning more. Thanks for the post ED.

[Dixie Springs]

I bought one!!!

Just kidding. I can't even afford DVC, with kids in college and all. Strictly for well-heeled plastic surgeons, Saudi-royalty and Orlando Magic players in this phase.

I do agree with ILoveLegos on the Celebration Deja Vu. And though Celebration wasn't specifically promised to be a forever Disney utopia, that's why most people lined up to buy in. Now Disney is gone, leaving a generic, expensive HOA in their place. Yuck!

[crltkcagle]

Ditto That!!!

I tell you what....if I hit the lottery, I will be burning up the road to buy one of these houses! It sounds like heaven on earth for a Disney-fanatic...

[VolMickey]

If I had the scratch, I'd definitely do it. Not sure I could ever get tired of living in the middle of WDW.

[Imagineer1981]

i would so buy one...without blinking an eye if I had the money to do so.

[PopPhan]

My question is: What are the yearly taxes on a $1.5M home on WDW property? Property taxes; School taxes; Per Capita taxes?

Gotta start planning and saving!!