Both of these sources are always very reliable so I never worry about repeating some of what they have rumored to be happening. Here are what they have to say:
By Scott Joseph: Walt’s and Neverland Tunnels Planned for Disney Springs
I’ve learned of a couple of new venues that are planned for the (currently) very dusty Disney Springs project. One will be a restaurant called Walt’s — not sure where they came up with that name — and another will be a bar and lounge known as the Neverland Tunnels.
Details are still a little sketchy, but both will be located near the previously announce Edison, which will be set up as a speakeasy. Neverland Tunnels will make use of the space that once sat beneath the Adventurers Club at Pleasure Island. The name is likely a reference to the underground home that Peter Pan and company lived in. Seeing as how it will be mainly a bar, you can expect a lot of Lost Boys to suddenly want to grow up when they get carded. And this is interesting: To get to the Neverland Tunnels you’ll have to first go through Edison and then Walt’s.
From John at The Disney Blog: Disney Springs to add a “Walt’s” restaurant and more news
Disney has already officially announced the steampunk inspired restaurant “The Edison,” but what they haven’t told us is that a secret venue (like a speakeasy) called the Neverland Tunnels will make a home below the former Adventurers Club location. It will reportedly be accessible only through The Edison and another unannounced project “Walt’s.” As you might guess, the theme of the Neverland Tunnels is Peter Pan and the Lost Boys. But it will be an adults only location (at least after a certain time of the day).
The “Walt’s” restaurant has been rumored ever since its logo appeared on some leaked slides from the presentation Disney made to pitch companies to open shop in Disney Springs. There is a Walt’s in Disneyland Paris and it’s often been hoped that the experience would be cloned for Orlando. That just may be coming true. We’ll see if Walt’s favorite chili recipe is on the menu.
There doesn’t seem to be anything further or any concept art available yet but I’ll keep my ear to the ground and my eyes open for anything new information that appears!