Disney Sells Celebration
The Walt Disney Co. ends its experiment in urban planning and sells 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 full-service restaurants, more than 94,000 square feet of commercial office space, 105 private apartments and three land parcels... When Disney founded Celebration in 1994, it based its designs on the concepts of new urbanism, a school of urban planning that emphasized sidewalks and the mixing of residential and commercial space."
Thanks to Chris Steins
Published on Wednesday, January 21, 2004 in
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