Tagrel
01-24-2004, 09:41 PM
I know that they have planned on doing this, but I don't have to LIKE it. Its not a DISNEY town, if DISNEY doesn't own the heart!
Disney sells town center of Celebration, city it created
MIKE SCHNEIDER
Associated Press
CELEBRATION, Fla. - The Walt Disney Co. on Wednesday sold the town center of the city it created, ending the entertainment giant's most visible connection to an experiment with urban planning.
Disney sold the town center of Celebration to Lexin Capital, a private real estate investment firm for an undisclosed amount.
Lexin Capital's purchase encompasses 18 acres containing 16 retail shops, six restaurants, more than 94,000 square feet of commercial office space, 105 private apartments and three land parcels. A spokesman for Lexin Capital didn't return a call seeking comment.
Disney will keep a presence in the town of 8,000 people over the next several years while focusing on selling its remaining commercial land, said Andrea Finger, a spokeswoman for Celebration Company, a real estate development division of Disney.
Residents and retailers said they were reassured by Lexin Capital officials that there would be little change.
"Everybody thinks this is going to be a big deal, but it's not. It's just a different name on the rent check," said Heather Clayton, a Celebration resident who owns the Lollipop Carriage children's clothes store in downtown.
Disney's name attracted a flow of residents who had high hopes that the company's affiliation would recreate the idyllic small-town ambiance found in Disney films such as "Pollyanna." While the town has had some problems, such as early criticism of its public school and its rigid covenants, most residents call Celebration a success. Property values are among the highest in the Orlando market.
"It's a modern-day Mayberry," Clayton said. "It's a wonderful place to raise a family."
When Disney founded Celebration in 1994, it based its designs on the concepts of new urbanism, a school of urban planning that emphasized parks, sidewalks and the mixing of residential and commercial space.
The city now has two public schools, an 18-hole golf course and a hotel, along with the retail area.
At a meeting of residents and retailers on Wednesday, Lexin officials said they planned to add more stores to the downtown, said Barbara Sandling, a Celebration resident who owns the Bloom Trading Co. gift shop in downtown.
Lexin Capital officials also assured the merchants it would continue with street festivals for its Founders Day and the Fourth of July and would continue making fake snow around Christmas and depositing fake leaves in the fall. Disney started these traditions to nurture the businesses.
Over the past couple of years, Disney has scaled back its visibility in the town.
The Celebration Company sold the town's golf course in September, the same month residents took control of the board of the Celebration Residential Owners Association. The Celebration Company, which had controlled the board, will serve on the board for two more years.
"The Celebration Company is a developer and we knew it would come to this someday," said Vicki Puntonet, a resident who owns the Village Mercantile clothing store in downtown. "Here we are."
Original Article: Disney sells town center of Celebration (http://www.miami.com/mld/miamiherald/news/breaking_news/7764702.htm)
Disney sells town center of Celebration, city it created
MIKE SCHNEIDER
Associated Press
CELEBRATION, Fla. - The Walt Disney Co. on Wednesday sold the town center of the city it created, ending the entertainment giant's most visible connection to an experiment with urban planning.
Disney sold the town center of Celebration to Lexin Capital, a private real estate investment firm for an undisclosed amount.
Lexin Capital's purchase encompasses 18 acres containing 16 retail shops, six restaurants, more than 94,000 square feet of commercial office space, 105 private apartments and three land parcels. A spokesman for Lexin Capital didn't return a call seeking comment.
Disney will keep a presence in the town of 8,000 people over the next several years while focusing on selling its remaining commercial land, said Andrea Finger, a spokeswoman for Celebration Company, a real estate development division of Disney.
Residents and retailers said they were reassured by Lexin Capital officials that there would be little change.
"Everybody thinks this is going to be a big deal, but it's not. It's just a different name on the rent check," said Heather Clayton, a Celebration resident who owns the Lollipop Carriage children's clothes store in downtown.
Disney's name attracted a flow of residents who had high hopes that the company's affiliation would recreate the idyllic small-town ambiance found in Disney films such as "Pollyanna." While the town has had some problems, such as early criticism of its public school and its rigid covenants, most residents call Celebration a success. Property values are among the highest in the Orlando market.
"It's a modern-day Mayberry," Clayton said. "It's a wonderful place to raise a family."
When Disney founded Celebration in 1994, it based its designs on the concepts of new urbanism, a school of urban planning that emphasized parks, sidewalks and the mixing of residential and commercial space.
The city now has two public schools, an 18-hole golf course and a hotel, along with the retail area.
At a meeting of residents and retailers on Wednesday, Lexin officials said they planned to add more stores to the downtown, said Barbara Sandling, a Celebration resident who owns the Bloom Trading Co. gift shop in downtown.
Lexin Capital officials also assured the merchants it would continue with street festivals for its Founders Day and the Fourth of July and would continue making fake snow around Christmas and depositing fake leaves in the fall. Disney started these traditions to nurture the businesses.
Over the past couple of years, Disney has scaled back its visibility in the town.
The Celebration Company sold the town's golf course in September, the same month residents took control of the board of the Celebration Residential Owners Association. The Celebration Company, which had controlled the board, will serve on the board for two more years.
"The Celebration Company is a developer and we knew it would come to this someday," said Vicki Puntonet, a resident who owns the Village Mercantile clothing store in downtown. "Here we are."
Original Article: Disney sells town center of Celebration (http://www.miami.com/mld/miamiherald/news/breaking_news/7764702.htm)