Disney Buys 965 Acre Florida Ranch for $23 Million

For $23,834 per acre, the Walt Disney World Co. bought a ranch in Florida that might never be developed for the nearby theme park. ( Multimedia Graphic Network, Inc. )

A Florida ranch near a Disney resort community has been purchased for $23 million.

Media outlets in Florida are reporting that Walt Disney World Co. bought the BK Ranch near the master-planned community of Celebration that was founded by Disney in 1994.

The Osceola County ranch is located approximately 10 miles south of Walt Disney World and is zoned for development. A master plan for the ranch slates the property for 3,000 homes and 378,000 square feet of commercial and office space.

At the price tag Disney would have paid $23,834 per acre for the BK Ranch.

Despite the prospects of another resort community, Disney may opt to keep the land as it is says Jerry McGratty, broker and owner of Westhampton Realty. Instead the land would be used as a conservation area to aid in water management for the park.

“I do not believe they will ever develop it,” McGratty adds.

In 2014, Disney made a similar purchase of a 3,000 acre failed resort community called Mira Lago. The land south of Poinciana was bought to mitigate wetlands from construction on Disney’s resort and park developments in the area.

For more on other ranches that are for sale read the following stories: