(Reuters) - Walt Disney Co is banking on wealthy home buyers to plonk down some green on a luxury residential resort in Florida, defying the state's infamously high foreclosure rate.
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The company on Wednesday unveiled plans for its Golden Oak luxury homes at Walt Disney World Resort in Orlando, Florida.
Disney said it will offer fewer than 30 home sites for sale this year, at prices between $1.5 million and $8 million.
The gated community on a 980-acre development will eventually boast 450 homes and a Four Seasons hotel, where residents can enjoy a full-service spa and restaurants.
The Mouse House's blueprint calls for putting some of its wealthiest fans on the doorstep of its biggest theme park.
But it also comes as Florida muddles through a nationwide real estate crisis that, according to research firm RealtyTrac, has given the state a foreclosure rate that trails only Nevada and Arizona.
One in every 174 Florida properties received a foreclosure notice last month, RealtyTrac said.
Disney will allow home buyers at Golden Oak to hire their own architects, but they will be restricted to such styles as Venetian, Spanish Revival
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