$3.3 Billion Vacation Village Coming Near Disney

As Disney spruces up its Animal Kingdom in Orlando, Magic Development LLC in July will begin building an 87-acre luxury vacation village nearby.

Called Magic Place, it will feature five large towers with 1,850 units for residential, condo, and nightly hotel stays, as well as shops and restaurants.

Catering to the luxury market, the project is estimated to take 20-25 years. The first phase will begin this summer with a 25-story tower containing 251 units designed by Pininfarina, designer of the Ferrari.

Magic Place will be the third property by Magic Development  on Black Lake Road, south of Disney’s Animal Kingdom. The other two are a townhome development it says will be sold out by the end of the year and a combination of townhomes and condos called The Reserve. The combined total buildout value of the properties is about $3.3 billion.