About 20 miles (32 km) southwest of Orlando, Florida, in the United States, sits the entertainment complex known as The Walt Disney World Resort. The resort was run by Disney Experiences, a branch of the Walt Disney Company, and opened on October 1, 1971. Of the almost 25,000 acres (39 sq mi; 101 km2) that make up the land, half have been developed.
Four theme parks, two water parks, four golf courses, conference centers, a competitive sports complex, and a shopping, dining, and entertainment complex are just a few of the recreational amenities found at Walt Disney World that are intended to draw guests for an extended stay. In addition, there are other non-Disney-run resorts on and around the property, as well as 19 resort hotels owned by Disney and one campground.
What Was the Cost of Constructing Walt Disney World?
With all the improvements and repairs over the past 50 years or more, the projected cost of the park has already surpassed a staggering $3.5 billion. The original park was built for about $400 million over six years.
In order to provide an East Coast alternative to its wildly successful sister park in California, Walt Disney is said to have been covertly and secretly purchasing land in the middle of the 1960s. In the end, he paid about $5 million for 43 square miles of prime Florida real estate.
How Much Did Walt Disney Pay per Acre for Disney World?
By 1965, Disney had paid $5 million, or $183 per acre, for 43 square miles of property, which was twice the size of Manhattan or the size of San Francisco. Smaller nearby properties still needed to be purchased, though.
The land was purchased using five sham corporations. Compass East Corp. owned the shell firms.
It wasn’t until May 4, 1965, that the land purchases were covered by local newspapers. According to early rumors, it was a manufacturing plant. On October 16, 1965, Orlando Sentinel reporter Emily Bavar became the first to link the land to Disney. On November 15, a month later, Disney announced its acquisition to the public. Land prices increased as a result of the early leak.
Conclusion
In this piece, you learned about the location and scale of Walt Disney World Resort, the cost of constructing Walt Disney World, how much Walt Disney paid per acre for the land, and the land acquisition process behind it all. For more informative guides, stay connected to Buildersviller.