Ever thought about moving closer to the Mouse? It might be even easier now since the Wall Street Journal is reporting that next month Meritage Homes Corp. expect to complete a $18 million deal to buy close to 900 lots near Walt Disney World Resort in Orlando . The property is owned by two Walt Disney Co. subsidiaries.
This is exciting news for someone with plans in the somewhat near future to move to Orlando to live out my golden years like Blanche, Dorothy, Rose, and Sophia.
Meritage Homes Corp. is one of the nation’s largest home builders by annual closings. The current plans of the builder are to construct single-family homes from 1,800 to 4,800 square feet between $225,000 and $450,000. If everything goes as planned, construction should start in October with homes ready for sale in early 2014,
Meritage thinks the location near Disney is the perfect location for those with jobs in the theme park arena. That is sort of where I differ with the thoughts of Meritage. While some people in the service and retail industries may make a good living most are making very little to be able to afford a $225,000 house. This will however be perfect for middle or upper management types and people who move from other areas who sold a house in a more expensive area.
The Orlando housing market was hard hit by the downturn. But it has been rebounding, pushing land prices higher. Meritage paid about $20,000 a lot, double what the lots probably would have commanded last year, says Robbie McEwan, a land broker with CBRE Group Inc. “There’s so much money and pent-up demand from builders,” he says. “It’s crazy.”
I do find it interesting that the Walt Disney Co. is selling off more land. It seems to be a trend. First, with the Western Way project and then with the new upscale hotels in the midst of Disney property (Hilton, Waldorf Astoria, Four Seasons). Will this continue to be a trend? Did Walt Disney buy too much land when he initially purchased the Florida Project? Or do they need the cash to fund new projects? Maybe this is how the company’s bottom line is increased with fancy accounting in order to make up for The Lone Ranger and John Carter. Inquiring minds want to know!!!!
Meritage Homes Corp. already has several developments in the Central Florida area. Check them out to see if this might be right up your alley. http://www.meritagehomes.com/search/orlando-fl/