ORLANDO-Showing confidence in the Orlando market, Four Seasons and Resorts is planning a $360 million development. The luxury hotel brand has partnered with Silverstein Properties and Dune Real Estate Partners in a joint venture to develop a 444-room project at the Walt Disney World Resort.

Construction is set to begin on what will be the largest Four Seasons resort in the world this December, with a target opening date in 2014.

"Four Seasons had the unique opportunity to purchase a fantastic site at the Walt Disney World Resort," Kathleen Taylor, president and CEO of Four Seasons Hotels and Resorts, said in a statement. "Then we partnered with Silverstein and Dune, some of the world’s most astute players in real estate, to develop the project, which enabled financial commitments to be secured and the project to move forward."

Toronto-based Four Seasons Hotels and Resorts acquired the land from Disney in August 2008. Four Seasons will retain a 30% ownership interest in the project in addition to operating the resort.

Four Seasons has been working closely with New York-based Silverstein Properties since July 2009. Silverstein advanced the design and master plan for the new resort in consultation with Four Seasons. This effort enabled the joint venture to secure financing.

New York-based Dune Real Estate Partners, a real estate private equity fund led by Daniel Neidich, is the majority investor. Grupo Financiero Inbursa, one of the 10 largest banks in Mexico, has agreed to provide $190 million in construction financing for the project.

"That’s a wow," James Soble, a commercial real estate development attorney at Ruden McCloskey in Tampa, tells GlobeSt.com. "Nothing surprises me about the continued expansion of Disney World. It is a very long, long-term project that is going to continue to expand and see increased attendance. Four Seasons going to Disney World shows the quality of the resort and the importance of having luxury hotels on the property."

In addition to the Four Seasons resort, the project also includes 40 Four Seasons Residence Club units and up to 90 Four Seasons Private Residences. Several dining options are also part of the development, including a rooftop restaurant with Magic Kingdom views. On the amenities side, plans call for a spa, three pools, a lazy river, sports facilities and about 37,750 square feet of meeting space. Four Seasons is also renovating a Tom Fazio-designed Osprey Ridge 18-hole championship golf course.