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In a move that has been anticipated for years, the Bonnet Creek Resort is starting to take shape. A 480 acre piece of property that is surrounded by WDW on three sides, and Highway 4 on the other is finally under development. The first tenant will be Fairfield, a timeshare company. At the end of construction, it is estimated the the "resort" will have 3,000 hotel rooms, 1,600 timeshare units and a 250,000 Square Foot conference facility.

As a reminder, this is not Disney's property, but will be accessed through Buena Vista Drive just northeast of the Carribean Beach Resort. It will be interesting as this project progresses how well these resorts do, and how much business they take away from WDW.

Orlando Sentinel Article

Bonnet Creek to get Fairfield time shares
By Todd Pack

Orlando-based Fairfield Resorts Inc. said Wednesday it will be the first company to built at the 480-acre Bonnet Creek Resort, which is bordered on three sides by Walt Disney World.

Fairfield said it will buy 46 acres from Bonnet Creek Venture Ltd. for a 744-unit time-share resort.

The deal is expected to close on Oct. 1. Construction will start in 2003, and the Fairfield Orlando at Bonnet Creek should open in June 2004.

Fairfield's agreement with Bonnet Creek gives the company an option to buy a second 12-acre parcel that can accommodate another 350 units.Franz Hanning, Fairfield's president and chief executive, called Bonnet Creek "the area's premier location for resort development."

Bonnet Creek is between Interstate 4 and Disney's Caribbean Beach Resort. Fairfield's resort will be accessible from Buena Vista Drive, which runs across Disney property.

That location should give Fairfield an edge in Central Florida's competitive time-share market, Hanning said, but its toughest competition could come from Disney itself.

Disney has announced plans to replace a quarter of its Disney Institute resort with 192 time-share units. Disney's Beach Club Villas time-share complex is scheduled to open July 1.