January 21, 2004 – Disney Sells Celebration Town Center to Lexin Capital
“Celebration, Florida – The Community Disney Built.”
On January 21, 2004, The Walt Disney Company sold the downtown area of the city of Celebration to Lexin Capital for an undisclosed sum, though it was estimated that the cost was at least $42 million. The self-contained city was built in Walt Disney World’s property, and first opened on June 18, 1996, when the first residents moved in. It was Disney’s first experiment with urban planning, and the sale gave Lexin Capital 18 acres, featuring retail stores, restaurants, commercial office space, private apartments, and 6.8 acres that hadn’t been developed at the time of sale.