Last Updated Jul 7, 2010 7:53 AM EDT
The Wall Street Journal's Juliet Chung reports that the venture, known as Golden Oak, will be announced Wednesday and might eventually include 450 homes priced between $1.5 million and $8 million. The offerings will start as parcels, though, of up to three-quarters of an acre, with buyers then picking a builder from a list of Disney-approved firms willing to adhere to Disney-approved architectural styles.
Golden Oak is meant as a vacation home development, in contrast with nearby Celebration, Florida, a 1990s "new urbanism" development of several thousand primary residences. New urbanism (another example: Battery Park City in Manhattan) is generally considered to be a style of planned community attempting to offer suburb-style green space in a pedestrian-friendly environment.
New Urbanism developments also tend to include a broad range of real estate price points. Single-family homes in Celebration are on the market at just of north of $500,000, but the development also contains seven-figure homes with triple garages on large lots.
New home sales have been slumping in the U.S. recently, with May numbers down 18.3 percent from a year earlier. However, with the oldest baby boomers set to retire next next year, it's possible that a niche vacation play such as this one might well find its market.