Disney goes luxe: Company plans pricey new vacation homes

Taking a hint from other luxury hotels and condo complexes, Walt Disney Co. plans to unveil a pricey vacation-home development in Florida’s Walt Disney World.

The Wall Street Journal is reporting Disney will offer homes ranging in price from $1.5 million to $8 million. According to the report, the proposed 980-acre Golden Oak development in Orlando is expected to hold 450 homes and a 445-room Four Seasons hotel. The development will include two renovated golf courses, a clubhouse, parks and pedestrian walkways, with wetlands and other conservation areas. Lots will be offered in various sizes, up to three-quarters of an acre. The first homes are expected to be finished in 2011.

The WSJ says Disney estimates Golden Oak could take eight to 10 years to complete, but interested buyers can get in on the action now. Lots can be reserved with a deposit of $25,000.

Readers: What do you think? Is this a good move for Disney, or will a luxury development have an adverse effect on the theme park?