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It may have taken 50 years, but Disney finally convinced one of Osceola County’s pioneer ranching families to sell some of their land holdings.
Descendents of legendary cattle rancher Oren Brown — notorious for refusing to sell his land to Disney for the original theme park — agreed to sell most of their remaining ranch property on Jan. 3 for $11 million.
‘What’s money?” Brown told Look magazine in a 1971 feature about the Disney boom in Kissimmee. ”It’s only paper, most of it. … I never could keep money. The land, it won’t run off. Lots of people like money, but I don’t care so much for it. I reckon I’m peculiar that way.”
The Brown estate sold 1,575 acres; the deal closed less than a month after Disney’s purchase of the neighboring 965-acre BK Ranch for $23 million. And just like the BK Ranch purchase, this acquisition is expected to be used for water conservation and wetland mitigation.
“Because of the nature of the property, it would be a prime candidate for a mitigation bank,” said John Adams, a partner with Central Florida Land Advisors, which was actively marketing the Brown property for that use.
The purchase price was less than half of the cost of the BK Ranch, which had been rezoned for a master-planned, mixed-use development and had active permits from the U.S. Army Corps of Engineers and South Florida Water Management District.
“The BK Ranch was entitled for 3,000 homes,” Adams said. “There were no entitlements on this property, and that was reflected in the sales price.”
The Brown estate owned nearly 2,000 acres west of Poinciana Boulevard. Adams said the nearly 1,600 acres purchased by Disney comprised forested wetland and wetland prairie, which is in high demand for mitigation banking.