The Four Seasons-anchored resort, located on the northeast border of Walt Disney World Resort, will be developed on land where the Eagle Pines and Osprey Ridge golf courses are located. The development will include a luxury hotel, 18-hole golf course, single and multifamily homes and fractional ownership vacation homes. Disney has entered into a letter of intent with Four Seasons to operate the hotel.

Once terms of the project are finalized, site work could begin later in the year, with a hotel opening projected for 2010.

The retail, lodging and dining district will be located on the western edge of the resort, just outside Disney's gateway entrance around the interchange where Western Way meets the Western Beltway. It will be comparable in size to Disney's Animal Kingdom. Early plans include 4,000 to 5,000 low- to mid-rise lodging units and 300,000 to 500,000 sf of commercial space.

The project is in the design phase. Site work is expected to begin later in the year. The project will be constructed in phases over the next eight to 10 years.

A Walt Disney World Resort spokeswoman tells GlobeSt.com that project costs have not yet been developed for either project. Marketing efforts for the residential and commercial space have not yet started.

"Disney offers multiple categories of resorts, from luxury to value-priced lodging. We feel these projects are an extension of those offerings," she says. "We feel there's room to penetrate both the luxury and value-priced markets."