The Peterson Cos., which sold Disney a National Harbor parcel of land three years ago, has bought back the plot for $11 million – the same price Disney paid when the company sold it.
Originally, The Walt Disney Company had plans to build a 500-room resort on the plot, which would be linked with its Adventures by Disney guided tours service. However, late last year Disney backed out of the project because of expansion plans that were already underway at their various properties.
Jon M. Peterson, senior vice president of the Peterson Cos., commended Disney for selling back the parcel of land without opening it for competitive bidding. As of this writing, there has been no word on what the National Harbor plot will be used for.
