At the Magic Kingdom, replacing 20,000 Leagues Under the Sea -- which closed three years ago is a major priority. "It's a very valuable piece of property," says Paul Osterhout, senior show producer and design director for the Magic Kingdom. But nothing will materialize immediately, Osterhout adds. That's because Disney plans a "major attraction" on that portion of the Magic Kingdom, and such attractions typically take five years to complete from design through buildout. Both Osterhout and Greg Emmer, vice president of the Magic Kingdom, are close mouthed about widespread speculation that a roller coaster dubbed Fire Mountain would be built on the location, only that there are lots of ideas floating around for new changes at the Magic Kingdom.