ORLANDO, Fla. — Editor’s note: This story is available as a result of a content partnership between WFTV and the Orlando Business Journal.
Lake Nona’s master developer not only has a say in what happens next with the 60 acres it sold to The Walt Disney Co. (NYSE: DIS) for the theme park titan’s abandoned corporate campus project, but it also has a timetable for when it might get the land back.
A review of legal documents related to the September 2021 land sale between Burbank, California-based Disney and Tavistock Development Co. LLC shed some light on when Disney may have to resell all or part of its Lake Nona property in southeast Orlando to Tavistock as a result of it nixing plans to build a 1.8 million-square-foot office campus there.
Disney (parent company of Walt Disney World in Orlando) had been moving forward with plans for the estimated $1 billion project as recently as March 9, when it went before the city of Orlando Development Review Committee seeking approval for a specific parcel master plan. But on May 18, Disney employees received a letter from Disney Parks, Experiences and Products Chairman Josh D’Amaro saying the project was canceled, citing “new leadership and changing business conditions” among the reasons for the pivot.
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