CELEBRATION, Fla. (WSVN) — Disney has purchased almost 1,000 acres of land in the Orlando area.
According to GrowthSpotter, the Walt Disney Company spent $23 million for 965 acres of Osceola County ranch land just west of Kissimmee. The land has been zoned for development.
Jerry McGratty, a court-ordered receiver for the property, said Disney was primarily interested in buying the land for “water management needs” and conservation.
The deal also follows a similar model of Disney’s 2014 purchase of Mira Lago, a 3,000-acre failed residential development. The Orlando Sentinel reports that land buy had been made to “mitigate wetland impacts” resulting from Disney’s construction at its theme parks and resorts.
Disney has not yet confirmed what the land will be used for.
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