Homebuilder Minto Communities LLC has plans in the works for an “attraction unto itself” coming just five miles from the Walt Disney World Resort.

The builder — a builder in Lake Nona’s popular Laureate Park community in Medical City — is launching its second Central Florida community after buying a 200-acre site in Polk County near Disney. The new community, dubbed Festival, is slated to include 500 luxury vacation villas ranging from 1,605 to 2,232 square feet along with a downtown with a general store, ice cream parlor, arcade, bar and grill, fitness center, heated swimming pool with private cabanas, kids’ water park, putt-putt golf course, volleyball courts and a wellness center, said a news release.

Construction is slated to start by year’s end.

“Festival is minutes away from the top attractions in Orlando including Walt Disney World,Universal Studios and SeaWorld,” said Minto Senior Vice President William Bullock, in a prepared statement. “Our buyers from the U.S. and abroad will have the peace of mind of owning a vacation villa that is managed by a leading property management company and the option of placing their villa in an international vacation rental program.”

Minto, which has its Florida offices in Coconut Creek, bought the property just west of Interstate 4 and Ronald Reagan Parkway for an undisclosed price on Sept. 5 from Winter Park-based The Meadows LLC, though the transaction hasn’t yet hit Polk County records. Property records have the land valued at about $387,000.

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