The Walt Disney Company is expanding its recent purchase of land in Osceola County, FL. The company has now acquired another 1,500 acres of property for $11 million.
The land borders the previously purchased BK Ranch, located on Old Tampa Highway west of the Poinciana SunRail station. According to the GrowthSpotter, Disney paid $23 million in mid-December for the 965 acres of land southeast of Celebration back in mid December.
Jerry McGratty, owner of Westhampton Realty and the court-appointed receiver for the property, said Disney was primarily interested in using the land for water management needs and conservation.
Although the previous purchase of the BK Ranch had been envisioned as a community with homes and commercial space similar to Celebration, McGratty told GrowthSpottter, “I do not believe they will ever develop it.”
The land was purchased just after the start of the new year from the family of cattle rancher Oren Brown, who refused to sell land to Disney for the original theme park. GrowthSpotter reports that Disney has been trying to purchase the land for more than 50 years.