Four Seasons breaks ground on WDW resort

Four Seasons Hotels and Resorts earlier this month broke ground on a 444-room resort on land it acquired from Disney in 2008.

The new resort will incorporate the Osprey Ridge 18-hole golf course, to be renovated and managed by Four Seasons, and is located within the Golden Oak residential community, which Disney designed.

"Travelers around the world know and trust Four Seasons, and Walt Disney World is the world's premiere family vacation destination," Meg Crofton, president of Walt Disney Parks and Resorts Operations U.S. and France, said in a news release. "Together, our two companies offer a brand-new reason to visit and experience Central Florida."

The new resort is expected to open in 2014 and will include, among other amenities, a rooftop restaurant with a view of the Magic Kingdom.

"Each of us is dedicated to creating a product of the highest quality and standards, something that will become a landmark here in Orlando and a destination unto itself for travelers from all over the world," Kathleen Taylor, president and CEO of Four Seasons Hotels and Resorts, said in a news release. "It is truly a one-of-a-kind project and Central Florida will be a valuable addition to our family of resorts, particularly since this is a destination our guests already enjoy."

In June 2010, Disney announced plans to build 30 houses as part of the first phase of its Golden Oak community. The single family custom houses were expected to sell for between $1.8 million and $8 million.