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Disney fans will soon be able to learn more about the company’s theme park designers, as Disney announced plans on Wednesday to expand its new residential living concept even before its first community opens and amid the company’s recent high revenue stream. You may be able to live in a North Carolina residential community designed by . Explain the economic challenges.
important facts
In February 2022, Disney announced plans for a new “Story Living by Disney” community. It’s a master-planned development designed by Disney’s “imaginers” who dream up the company’s theme parks, and it also includes a community center run by Disney employees.
The only thing the company announced at that time was plans for a 618-acre community called Cotino in Rancho Mirage, California, which had not yet opened.
Disney’s second community, Story Living by Asteria, occupies 1,500 acres in Chatham County, North Carolina, near Raleigh, Durham, and Chapel Hill.
The area will include more than 4,000 homes, including homes for residents aged 55 and over, along with parks and cycling trails.
According to Disney, the community will include a wellness and recreation center, restaurant, sports court, swimming pool, community garden and a club with ample outdoor space.
The community center will also offer Disney-centric programming for residents, including dinners inspired by Disney movies, Disney art lessons, and family days with Disney-themed activities.
Points to note
Disney fans interested in the Asteria community can register their interest on Storyliving by Disney. WebsiteHowever, it is still unclear when this concept will become a reality, with the website only stating that the area will “start taking shape by 2027”. Disney’s Cotino community in Southern California is currently taking “pre-sale reservations” for interested homeowners, but the company has not yet announced a planned launch date for the community.
amazing facts
Disney fans who want to live in Disney’s master-planned community are likely to pay a hefty price, with the company saying on its website that starting prices for single-family homes in Cotino are expected to be “from the low $1 million range.” It has said. $2 million less. ” The real estate properties available in the company’s existing residential community, Golden Oak at Walt Disney World, are separate from the Story Living concept. listed Between $9 million and $13.8 million.
news peg
Disney’s planned expansion of its “Story Living” concept comes at a difficult time for the company. report The slump in stock prices and layoffs in recent months have come as the company has battled streaming losses, a Hollywood strike and a high-profile legal battle with Florida Gov. Ron DeSantis.The company’s theme park division has been a bright spot for the company financially, despite reports of declining attendance at Walt Disney World. report The division generated $24 billion in revenue in the first nine months of fiscal 2023.disney announced In September, the company said it plans to nearly double spending on its theme park division, which includes Story Living Communities, over the next 10 years, investing about $60 billion in the division.
Main background
Disney’s Story Living Plan is how Walt Disney planned Epcot, Florida, in the 1960s as an “experimental prototype community of tomorrow” where residents would live and work in a futuristic city at Walt Disney World in Florida. . This plan never materialized, and Epcot opened in 1982 as a theme park instead. But the company was in his 1980s and his 1990s at Celebration, Florida, a master-planned community just outside of Walt’s Disney World that he opened in 1996. The nostalgic little town designed by Disney was initially operated by Disney, but the company was later established. sold many In 2004, the town’s shares were transferred to a private investment company.Homeowner leveled up complaint of shoddy construction work But community property is in need of expensive repairs, and Disney also lack of diversity Among the town’s population. Disney also cooperated with the French government. development Val d’Europe is a residential and shopping area just outside Disneyland Paris.
References
Discover new things at Asteria, North Carolina, Story Living by the Disney Community (Disney Park Blog)
Disney launches new housing community for fans (Forbes)
Disney stock hits 9-year low: Here’s how the company’s performance compares to its peers (Forbes)
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