By Georgiana Mihaila, Associate Editor
A $360 million Four Season Resort Orlando is in the works for Walt Disney World, with construction start set for the end of the year. The long-awaited project will rise on the northeast portion of Disney World—land purchased by Toronto-based Four Seasons Hotels and Resorts from Disney in August 2008 for approximately $51 million.
Four Seasons has been working closely with New York-based Silverstein Properties, one of the nation’s most respected real estate development, ownership and management organizations, since July 2009. Silverstein advanced the design and master plan for the new resort in consultation with Four Seasons, including acquiring necessary approvals, assembling and directing architectural and engineering teams, and negotiating the construction contract with Turner Construction. New York-based Dune Real Estate Partners is the majority investor, whereas Grupo Financiero Inbursa, a Mexico City-based bank, has agreed to provide the $190 million debt financing.
The new development will include a 444-room Four Seasons hotel, but also as many as 40 Four Seasons Residence Club units and up to 90 four Seasons Private Residences; the dining venues also include a rooftop restaurant with great views of Disney World, while a 14,000-square-foot spa will accommodate 18 treatment rooms. The resort will have sports facilities such as tennis courts, a basketball court and a climbing wall, as well as three pools, a fitness center and a recreational center for children, teens and families. 37,750 square feet of meeting and event space have also been projected, along with a business center. The development will encompass the existing Tom Fazio-designed Osprey Ridge 18-hole championship golf course, which will undergo renovation.
According to an official press release, the Four Seasons at Walt Disney World Resort will be the largest Four Seasons resort in the world. The target opening date is scheduled for 2014.